Giving Back Control to the People Through Decentralized Dispute Resolution

Our solution addresses a persistent issue in the remote work landscape: disputes arising from direct work contracts between organizations and remote workers. Problems often surface as delayed payments or incomplete deliverables. This issue has significant implications. A survey by the Independent Economy Council shows that 74% of respondents experienced delayed payments, and 59% are owed $50,000 or more for completed work. On the other hand, 38% of hiring organizations said their biggest concern when hiring freelancers is accountability.

Currently, escrow services offer a buffer to these issues, securing payment and protecting both remote developers and hiring organizations. However, these centralized services tend to be expensive, with commission fees reaching up to 25%, and their decisions often favor the companies that pay the platforms’ bills. Our unique approach challenges this status quo by decentralizing escrow services, thereby reducing costs and ensuring a fair dispute settlement process.

Socious Contributors

At Socious the community is at the heart of our mission, so we champion the “Socious Contributors” as a way to have fair dispute resolutions. From the pool of the Socious Contributors, three anonymous jurors that have at least 10,000 impact points are randomly selected by our artificial intelligence to ensure that those chosen are people who have incentives to make fair decisions.

Decentralized Decision-Making

A common issue with conventional centralized platforms is that the decision-making solely relies on the platform owners which introduces the issue of censorship and bias. With Socious’ decentralized democratic decision-making the power in the decisions don’t rely solely on one organization’s decision, but the user community. Our impact point system ensures that people who are chosen to decide have incentives to make fair decisions.

Anonymous Jurors

One potential issue in a decentralized platform is the potential corruption of jurors, but Socious solves this issue by having the jurors be anonymous when chosen for dispute resolution.

Affordable Escrow Services

Since we give the power of dispute resolution to the community, Socious saves money on hiring internal specialists. We pass these savings back to offer the most affordable escrow services in the market.

In order to have meaningful impact there must be innovation to our methods and technology. At Socious we are at the forefront by providing innovative technology that connects you with impact jobs that are meaningful to you, and keeps agreements fair by having our decentralized decision-making where the community benefits and not just one corporation.