Weksil was founded by someone who spent over two decades structuring, assigning, and enforcing the exact instrument this protocol digitizes.
Over two decades of repeatedly structuring, assigning, and enforcing payment obligations across multiple parties is what made the design of Weksil obvious. I've seen every failure mode in the paper-based system firsthand: broken assignment chains that make notes unenforceable, settlements that drag on for months, forged endorsements, deals that collapse because nobody can prove who holds the note.
The paper system worked when notes stayed with the originator. It breaks the moment a note starts trading — and in today's private lending market, notes trade constantly. The secondary market is booming ($33.2B in quarterly private lending origination, growing 10% year-over-year) but the settlement infrastructure hasn't changed since the 1930s.
Two things changed that make this possible today. First, UCC Article 12 was enacted in 25+ states including New York, creating "Controllable Electronic Records" — the legal framework for blockchain-native promissory notes that didn't exist two years ago. Second, New York's adoption means the institutional secondary market is now legally ready, because most note purchase agreements use New York choice-of-law clauses regardless of where the property sits.
The legal infrastructure exists. The technology exists. The market is $12 trillion in outstanding mortgage debt. Someone was going to build this. I decided it should be someone who actually understands promissory notes.
Poland's Ministry of Digital Affairs, through its DLT and Blockchain Working Group, published a comprehensive technical report on electronic promissory notes on the Ethereum blockchain in 2018–2019. The working group — including ING Bank, Jagiellonian University, and NASK (Poland's national research institute) — developed a working prototype, an XML schema for note content, and a full legal analysis mapping existing bill of exchange law onto blockchain records.
Their conclusion: the technology works; the missing piece is legal adoption. In the US, UCC Article 12 fills that role. My Polish-American background gives Weksil direct access to this research community and a credible EU expansion path as European nations adopt MLETR.
We're recruiting co-founders who want to modernize real estate settlement infrastructure.
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