Litigation Funding Exchange

“Whether a man was dressed in a ragged coat and found himself seated between a belted earl and a gaitered bishop it made no difference; moreover he was able to engage them in conversation and know that he would be answered civilly”
— Markham Ellis[The Coffee-House: A Cultural History]

The Litigation Funding Exchange [LFE] is an exchange that enables the buying & selling of claims.
For clarity and ease of explanation only LNFTs will be considered in the example but there is no reason why it cannot be extend to any and all claims.

The following is a step by step explanation of how the system works from the perspective of:
[Due to IP concerns it does not touch on the technical specifics of the solution]

  • Being a victim of Malfeasance[fraud] is stressful. Therefore its only natural that one will panic. In that panic, one should:

    • Lock down all bank accounts

    • Check computers for viruses

    • Start gathering evidence and organising

  • Once the panic is over; its now time to be proactive: get hold of your passport and mint the SBT.[Note that nothing is stored or ever leaves the local system aside from the ZKP]

  • Using your SBT, mint your LNFT making sure to fill in all the values to the best of your ability as will be verified later.

  • If you have evidence [ ToS, emails etc.] add them to the vault so that they can be assessed by “first responders”.

  • If you need emergency liquidity: List the unverified claim for a crypto or Fiat loan.

    If you want to be “done” with it: list the unverified claim for sale

    If you want to increase the value/risk profile of your claim: List it for verification.

  • Wait and actively watch your NFT. Make the choice you want up and including it as a class action.

  • This technology approach is at the cutting edge of Crypto, thus the first part is getting ready[ understanding the technology and layers but also the legal implications for firms]. Multisig [of AT LEAST five humans]MPC wallets for RUs.

  • Each SBT in the CU/LU/RU context represents an individual who has the authority to buy and/or verify a claim. Thus each organisation could have mutiple SBTs

    [ Impersonation of another SBT will result in reaping]

  • There are number of options of how to verify the information:
    [Weak verification]:Verify the proof of the passport as valid.
    [For cases that require stronger verification]: Purchase the NFT and ask the client for another form of identification [ZKP it] and then check the ZKPs match.

  • Once the LNFT is in the verification step; you will have limited access to vault to look through materials. Depending on your setup you might have access to OSINT or other material that can be used to compare between what is placed in the vault and not.
    [We make no claim that the vault evidence is the ground truth of the situation]

  • Purchase an ULNFT: as a loan or a final purchase and verify the information and relist it as verified.

    Purchase a VNFT: Push the claim or as appropriate

  • The ULNFT and VLNFT can be used as the purchaser sees fit. Whether it is never used as a legal claim or resold multiple times it does not matter.