Wednesday, April 17, 2024

    Trial Token: Crowd sourced litigation funding on the blockchain

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    Imagine a future where justice is accessible. Where fair treatment in the pursuit of legal action is not reliant on your income, job status, or the number of zeros in your bank account.

    Trial Token, of Trial Funds Society, describes the access to justice as the ability of any one person to use the legal system to advocate for themselves, regardless of their income. Yet thousands of low-income families face multiple barriers when it comes to navigating our legal system, a complicated institution that is already riddled with high fees, complex processes, confusing legal jargon, and inaccessible legal information.

    In theory, justice applies equally to all. In practice, it applies only to those who can afford it. That’s because lawsuits have emerged as a distinct asset class, like real estate, private equity, precious metals or stocks and bonds, in which justice is accessible to those who can afford it.

    So how do you go about restoring trust in an inaccessible, confusing system that was built to be accessible and designed to provide justice for all?

    The Premise of Trial Token

    That’s exactly what Trial Token envisions: access and inclusion to legal action. And they’re providing it one case at a time with their advanced, online platform for crowdsourced litigation funding that leverages blockchain and Ethereum’s smart contracts technology.

    Trial Token facilitates trust by connecting parties who are seeking funding for their claims with backers who may be interested in their case and in providing support in the way of litigation financing.

    How it Works

    It’s simple.

    Plaintiffs seeking legal services purchase Trial Tokens (TT) which is based on the ERC-20 standard. From there, they create a comprehensive case on Trial Funds for which backers to can access and view.

    Every case taken in by Trial Token is meticulously vetted and reviewed by a team of expert, legal advisors. Backers review a plaintiff’s case and select one they wish to support and fund. Plaintiffs receive the funding for their case and pursue justice, and backers can track the progress of the case,

    Once the case is settled or won, the backer will receive a portion of the settlement.

    Based on the Ethereum protocol and conforming to the ERC-20 standards, Trial Tokens will utilize the smart contract technology to maintain a public ledger that maps Ethereum addresses to Token balances.

    Only 1 billion of Trial Tokens will only ever be created with a structured mechanism of allocation and are intended to be sold during their initial Primary Token Sale at a price of USD $0.10 per Token Pre-sale conversion.

    How to Buy

    Trial Token recommends creating an Etherwallet, or use any digital wallet that sees you as the owner of the private key. To purchase, send to Trial Token’s sale smart contract, where you will receive your Trial Tokens once the primary sale is complete. You can also purchase your tokens via credit card or wire transfer — just email [email protected] for more information.

    A Revolution

    Litigation should not be a class asset that parties cannot afford.

    Trial Token is changing the litigation financial system. By marrying collaboration and the advancements in technology, they are making the pursuit of justice inclusive, empowering, and transparent.

    Interested in Trial Token’s pre-sale? There’s still time! Learn more here and be a part of the revolution.

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