For investors
For funders
Loquitur is a project, not a company. The specification, the schemas and the two verifiers are maintained by one person; business development is carried out by a small group around the project. All four are published as an Alpha preview, version 0.1.0. The next step is a producer that writes receipts. Every count on this page, such as the reason codes, can be reproduced from the schemas, the catalog and the corpus; the conformance runs are counted by the comparison in docs/specification/conformance-testing.md, section 7, of loquitur-protocol.
- 7 canonical objects, 57 reason codes and 1093 declared conformance runs, all counted from the published files.
- The baseline records 0 disagreements; the comparison script, run with the Python verifier, reports 0 over 1121 runs.
- No independent cryptographic review has taken place and no hosted service exists.
Scope
Two asset types, defined in registered lists
Version 0.1.0 covers fund NAVs and property valuations. The receipt and the registry entry are the same for both. A further asset type is registered in a versioned vocabulary, without a change to the schemas.
Fund NAV
An initial NAV and each update could go from the administrator to the auditor and on to investors, each with a receipt of its own.
Property
A valuation before listing and under review, which lenders, servicers and venues could read without the documents.
Progress
Two verifiers and a schemas package implement the specification
Two verifiers, written by the same maintainer from the same specification, are compared case by case over one corpus. Where they disagree, either the specification or one of them is wrong. Their agreement is not independent evidence. Every count can be reproduced from the schemas, the catalog and the corpus; the conformance runs are counted by the comparison in docs/specification/conformance-testing.md, section 7, of loquitur-protocol.
Specification and schemas
loquitur-protocol holds the specification, the pinned corpus and a versioned catalog of 57 reason codes in 11 categories. loquitur-schemas holds the JSON Schemas for 7 canonical objects.
Verifiers and a corpus
One verifier is written in Python and one in TypeScript. Both run the structure, integrity, link and authorization checks, and the conformance corpus holds them to the same outcome on every check it declares.
Next steps
The producer comes before the transparency log
The order of the planned work, without dates: the producer, the dossier archive and the first two public asset profiles, for property valuations and fund NAVs, with release 0.2 of the specification in parallel; then the planned checks on the evidence (origin, co-signature by a second party, checks without disclosing the documents, timeliness); then the transparency log and anchoring; then applications; the packages on PyPI and npm later still, once they are mature and have been tried by others. None of it is implemented. No independent cryptographic review has taken place, and none of the planned checks becomes normative without one.
Why the producer comes first
A producer is useful to the first issuer that installs it. A transparency log is useful only once there are receipts to record.
Why review comes before new checks
Each planned check on the evidence is specified first and becomes normative only after an independent review of its cryptography.
Boundaries
What Loquitur does not do.
- It forms no opinion on value and does not say whether a NAV or a valuation is correct.
- It does not replace the valuer, the administrator or the auditor, or their professional judgment.
- A PASS means the evidence matches what the issuer's signed registry entry commits to. It does not mean the inputs were true.
- It does not check facts outside the bundle, and it cannot detect false data the issuer signed.
- It relies on the keys the trust registry authorizes and cannot detect a compromised issuer key or trust root.
Investors and grant providers
Funding questions
Write to the maintainer about a phase: the producer, the planned checks on the evidence or the transparency log.