Difference between revisions of "Initial Litigation Offering"
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| − | '''Initial Litigation Offering''' | + | '''Initial Litigation Offering''' is an offering of blockchain tokens, allowing funding and gamification of the US court systems. The US legal system can now be seen as an asset class with the utilization of blockchain technology to crowdfund litigation in cases where a defendant may be liquidity constrained. Crowdfunding legal efforts directly in courts is a fairly new phenomenon, beginning with the passing of the Obama JOBS act in 2012, leading to increased decentralization in funding efforts. Blockchain has entered this niche due to its inherently decentralized nature and ability to be used for high security encrypted contracts. |
==Rise of Litigation Financing== | ==Rise of Litigation Financing== | ||
Revision as of 00:44, 29 January 2022
Initial Litigation Offering is an offering of blockchain tokens, allowing funding and gamification of the US court systems. The US legal system can now be seen as an asset class with the utilization of blockchain technology to crowdfund litigation in cases where a defendant may be liquidity constrained. Crowdfunding legal efforts directly in courts is a fairly new phenomenon, beginning with the passing of the Obama JOBS act in 2012, leading to increased decentralization in funding efforts. Blockchain has entered this niche due to its inherently decentralized nature and ability to be used for high security encrypted contracts.
Contents
Rise of Litigation Financing
Obama JOBS Act
At the start of his second term, President Barack Obama signed the JOBS act, which aimed to reduce barriers to investment and spur startup growth across all industries. Part of this act involved
LexShares was founded shortly after the JOBS act in 2014, creating a marketplace for defendants to receive funding from accredited investors. LexShares has funded millions of dollars in cases
Use of Blockchain for Contracts
Blockchain technology, which is immutable and encrypted, can be used to create unique tokens and coins for decentralized
