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This innovation has the potential to expand learning opportunities while also addressing the independent investigation and legal expenses of medical claims in England and Wales. In a market where the NHS alone spends over £2billion GBP settling claims of which approximately £500 million GBP annually is paid out in Legal costs (NHS Resolution, Annual Accounts 2019/20).
The LIT.Fund Incubator was launched while the project was in stealth to test the reaction from key players in the sectors we are targeting.
Discussions and collaborations are ongoing. Some of these partnerships and schemes will be announced in the future.
Following 51 weeks of working with an investment bank that carried out due diligence covering everything, the bank made an offer for a multi-million-pound facility with caveats for traditional funding rather than a DeFi powered blockchain and smart contract-powered digital asset-backed model.
On the 25th November 2021, the Law Commission (a statutory body set up by the UK Government) declared that ‘…the current legal framework in England and Wales is clearly able to facilitate and support the use of smart legal contracts, without the need for statutory law reform’.
Frontier Legal LTD has already developed court-compliant, smart legal contract capabilities, as well as a strategy for the execution and adoption into the UK legal market. The Law Commission’s findings remove barriers, and empower LIT.Fund model to rapidly deliver on that strategy, and grow the adoption across multiple legal processes, and in any industry where contracts are exchanged.
Being involved in innovation in the legal sector can be a very painstaking process for innovators. But the statement on the 25th November 2021 gave us the green light to go live with what we had been planning to do since 2017.
Every lawyer will need to know about blockchain, smart legal contracts and cryptoassets, the master of the rolls stated today. 'Major developments are imminent. They will mean that every lawyer will require familiarity with the blockchain, smart legal contracts and cryptoassets,' Sir Geoffrey Vos told an event to launch a new edition of authoritative guidance on the legal and regulatory aspects of the technologies underpinning digital currencies and the booming market in 'non fungible tokens' (11 Jan 2022, Law Gazzette).
Website soft launch and social media accounts are unveiled for community building and professional partnerships to begin.
First exchange listing of LITFUND Tokens expected to be early as 21st Oct 2022 on CoinTiger Exchange*. Follow our telegram for updates.
LIT.FUND appoints Geoff Simpson-Scott as Head of Healthcare & Legal Innovation.
Geoff brings 20 years’ experience of clinical negligence to LIT.FUND. He will be applying his extensive knowledge of litigation resolution strategy to provide innovative and successful healthcare claims solutions.
Geoff has developed his expertise at several leading law firms; most recently as Head of Clinical Negligence at a national consumer law firm. He is an experienced leader, communicator, data analyst, auditor and trainer.
Geoff has been recognised in The Legal 500 as being “always helpful & understanding” and is the currently writing the 3rd Edition of his popular practitioner text ‘A Practical Guide to Clinical Negligence’.
Geoff will use the LIT.FUND Launchpad to engineer blockchain-powered smart legal contract protocols to improve outcomes for all stakeholders. One such use case is building a smarter informed patient consent process to reduce case durations in litigation & improve the delivery of efficient healthcare.
LIT.FUND is proud to announce it has launched its protocol-driven and smart contract-powered NFT Launchpad for innovators to drive ESG-focused transformation and change in different industries.
The launchpad provides companies, brands, and innovators who are on a mission to drive innovation through launching smart protocols for their industry. These protocols can execute immutable smart contracts and issue NFTs for processes/procedures/audits that may have traditionally slowed down transactions, payments or delayed offers for funding and services. Protocols being developed by participants are helping to eliminate the lack of data transparency, trust between parties and governance which can currently give rise to disputes or forgery.
The platform is already being used by the LIT.FUND professional community from the legal, healthcare and crypto sectors to build safer and more informed ways for doctors to obtain patient consent for medical procedures. For building smarter and immutable independent audits and reporting protocols for litigation funders and insurers. In addition to building a better way to launch a crypto token presale that can help avoid a 'pump and dump' or 'rug pull' scenario.
Geoff Simpson-Scott who is head of healthcare and legal innovation at LIT.FUND explains how his division is using the NFT Launchpad. "LIT.FUND's launch of it’s NFT platform starts the journey towards using smart contracts to improve access to justice, fair compensation and reducing legal costs.
The immutability of recording transactional events on the blockchain increases the transparency of what is occurring both during a clinical negligence case itself and to the events giving rise to compensation claims before the harm arises. This greater degree of transparency will lead to clearer accountability, improved trust on both sides and reduces the scope for disputes in the way Sir Geoffrey Vos MR envisages."
The LIT.FUND launchpad is already working with innovators who are seeking to transform small to multi-billion GBP industries by participating in the LIT.FUND Launchpad and collaborating with the development team. If you are an innovator and want some support with launching the first and best-in-class Web3 solution for your industry, then visit the LIT.FUND website to read about how you can join the launchpad or contact Sajid Hussain.
If you are a crypto or NFT investor, then this is a great time to learn about how LIT.FUND NFTs and LIT.FUND Tokens (LFND) are transforming the way a token presale is carried out. Please visit https://lit.fund for more information.
LIT.FUND THE UTILITY-POWERED CRYPTO & NFT PROJECT LAUNCHES 'EARN LITFUND'.. #WeAreLIT
Watch the first announcement about 'Earn LITFUND by Tony Brown a LIT.FUND Co-Founder. It’s going to be a Super Saturday!
As promised: YOU CAN NOW EARN LIT.FUND
For all those interested in earning tokens watch this short video and follow this link: www.lit.fund/signup
YOU SPOKE & WE LISTENED ❤️🚀🚀❤️
(Kindly note we heave built this due to the high demand of interest in supporting/working with us and the impossible number of DMs we are receiving! Going forward all DMs will be directed to our signup page ☝️)
LITFUND/USDT will be available on #CoinTiger Exchange on the 25TH OCTOBER @ 10.00 UTC
What is LITFUND?
LIT.FUND is a DeFi-powered utility token & NFT project with a Web3 launchpad for innovators & pioneering companies. Projects using our launchpad aim to drive ESG-focused transformation in small to multi-billion-dollar markets. These projects are part of our mission to bring revenues from traditional markets on chain through LITFUND Token buybacks.
Official website: https://t.co/mcJB116XVS
TG group link: https://t.co/tL2AOOtOuf
#Crypto #DeFi #SOL
We are excited to announce that some of our projects as of the 16 Jan 2023 are at minimum viable product (MVP) and early revenue stages. We are updating our VC deck and roadmap. Having projects at early revenue and MVP has opened up access to over 64 targeted VCs in Jan 2023. Roadmap will be updated with milestones & achievements later this month.
There's a lot of progress happening. Stay Tuned!
LIT.FUND website and roadmap updated. Also information about the FreeClaimCheck.co.uk project is unveiled. Please visit https//lit.fund for more information.
LIT.FUND is currently engaging with with VCs to raise funding for a number of exciting Web3 projects launching out of the LIT.FUND Launchpad. We will be providing an update at our next LITFUND FC AMA.
Deal agreed in principle with A-rated insurer for the first LIT.FUND ATE Insurance deal. This use LIT.FUND smart contracts and AI to transparently and fairly make justice accessible for more victims of medical negligence. More information will follow in Q1 2024.
LIT.FUND is in talks with several investments funds to close a multibillion-pound investment deal. The target is to close the round in early Q1 2024, launch our medical negligence claims solution in the UK and then announce new exchange listings for LITFUND tokens. Updates will follow in 2024.