Crypto Startup Lets You Fund Other People’s Lawsuits Against Each Other

This time, the bros are trying to help the rich make money from other people's lawsuits.

According to Vice, the startup is disrupting the world of litigation funding to gamify the US court system in a way that will benefit both litigants and investors.

There is a background on litigation funding. Half-gambling and half-fundraising, the process of litigation funding is a way for people with money to help those without fund their lawsuits, and in return, they get a share of whatever potential settlements the claims receive.

Over the past year, Initial Litigation Offerings (ILOs), which allow retail investors to find and fund cases on the blockchain, have had their own Disruptionors.

The first ILO was launched in late 2020 and allows investors to buy litigation token in the case of Apothio, a California cannabis grower that is suing its county for destroying 500 acres of crops. The case has been on hold since the beginning of the year, but investors have still put more than $300,000 into it.

According to Vice, the ILO concept was built off by the co-founded company, which allows individuals to invest in ILO court cases.

The startup's website sings a different tune than the one Roche told Vice that his goal was to make access to justice more affordable and that he wanted to make the federal court system more accessible for all.

The site claims that investors will be able to access a multi-billion dollar investment class previously unavailable to the public, but only accredited investors will be allowed to invest.

The co-founder of the platform hopes to have it up and running by the end of the first quarter. It appears that Apothio is the only publicly traded ILO, but Roche hopes to have between five and ten more by the time the platform gets built out.

The concept of ILOs is intriguing when you take away the financial speak and legalese. The idea of good Samaritans helping those without access to the amount of capital it takes to sue companies or governments is exciting, and the idea of aligning incentives between the needy and the rich is catnip to capitalists.

It's not clear whether the imitators of Ryval will do any good or just become another blip in the radar of the world ofCryptocurrencies.

Tech startup wants to make people unhappy with their use of cryptocurrencies.

RadioShack is making coin for old people.

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