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Fair and Square: What It Means to Be a Compliance-by-Design Platform

Satoshi Nakamoto gave to early adopters of Bitcoin ownership and control - Cros extends to organizations this same offering, empowering them to do better business.

In this heavily centralized economy, who has the time to chase after clients and partners to pay what they sign up for?! Not us. This truth especially resonates with unregulated crypto companies that often don’t have just one, but a whole web of partners. It’s easy to foresee scenarios in which these partners could increase in number, and this is especially evident when doing business on the Metaverse.

A system that has a built-in judiciary is what both crypto and traditional organizations need - and what Cros delivers. Cros’ decentralized cross-org network helps organizations to skip past a few nuances and complicated steps - from following up to filing lawsuits, all by arming them with smart contracts that act like watchdogs for your business process execution, making sure everything is processed correctly on the Cros blockchain.

Smart contracts check compliance before changing the state of the process, providing all participants with a single source of truth and full traceability. Cros works in a gamified way, in which it gives incentives for users who comply with the rules of engagement and each clause or provision in agreements between two or more parties. This incentive is a monetary reward, paid in $CROS, the network’s native currency. This also gives the complying user more privileges in the Cros governance.

Conversely, penalties are also a vital part of this built-in judicial system. The smart contracts can register if one user isn’t following the rules or is carrying out malicious activity - when identified, these users get a penalty. Depending on the extent of their behaviour, non-compliant users get penalized by either deducting $CROS, or even face getting banished from the network altogether.

The old school way of following up and making sure the business is done makes a lot of room for human errors, and inefficiency from the people you hire to do the following up. Meanwhile, smart contracts spare you this hassle - and money that would otherwise have been wasted in and on the process. Using Cros, participants can rest assured, knowing that their work will not be tampered with, and that their business is safeguarded.

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