Altme introduces a game-changing on-chain compliance solution for Tezos decentralized applications (dApps), leveraging self-sovereign identity and privacy-preserving technology. Learn how Altme’s groundbreaking solution ensures compliance without compromising decentralization and user privacy in the web3 ecosystem.
Altme, a leading provider of decentralized identity solutions, has made a groundbreaking announcement with the launch of its latest product: the first decentralized on-chain compliance solution for Tezos decentralized applications (dApps). This innovative solution introduces a new era of seamless and privacy-preserving compliance for the web3 ecosystem, particularly within the realm of Decentralized Finance (DeFi).
Altme’s on-chain compliance solution combines self-sovereign identity (decentralized identity) verifiable credentials with non-transferable on-chain compliance NFTs, offering a unique approach that upholds the core principles of decentralization and user privacy.
By leveraging self-sovereign identity, Altme enables Tezos dApps to seamlessly verify user compliance without compromising sensitive personal data.
The key features of Altme’s solution include a self-sovereign identity wallet, off-chain verifiable credentials, compliance NFTs on the Tezos blockchain, and seamless compliance monitoring.
Altme provides users with a non-custodial wallet, ensuring complete ownership and control over their personal data and assets.
Through a built-in app KYC process, users receive off-chain verifiable credentials such as proof of identity, proof of age, and proof of DeFi compliance. These credentials remain within the Altme wallet, preserving user privacy while enabling compliant interactions with Tezos dApps. After verification, Altme allows users to mint compliant non-fungible tokens (NFTs) directly on the Tezos blockchain, representing a unique binary compliance status associated with each user’s blockchain address. These NFTs are non-transferable and exclude personal information, ensuring regulatory compliance while preserving user privacy.
Tezos dApps can effortlessly monitor user verification status by checking for compliance NFTs within user wallets, enabling compliance with regulations related to DeFi, anti-money laundering (AML), age restrictions, and more without accessing any personal data.
Altme’s decentralized identity solution offers unparalleled benefits to the decentralized web3 ecosystem. Verifiable credentials stored within the Altme wallet remain off-chain and can be utilized to mint non-transferable compliance NFTs on any blockchain, providing multi-chain capability and seamless compliance across multiple protocols.
Altme prioritizes user privacy by keeping personal data securely off-chain and inaccessible to dApps, ensuring full control over data and protection against data breaches and privacy concerns.
The solution adheres to the World Wide Web Consortium (W3C) decentralized identity standard, ensuring secure digital identity, interoperability, and compatibility across platforms. Altme’s commitment to open standards, transparency, and security establishes it as a reliable and trustworthy compliance solution.
Hugo MIR, CMO of Altme, said: “We are thrilled to introduce the first on-chain compliance solution built on decentralized identity. Our goal is to provide a seamless and privacy-centric compliance experience for web3 users and protocols. With Altme, decentralized applications can ensure compliance without compromising the principles of decentralization, ownership, and privacy.”
Altme’s on-chain compliance solution marks a significant milestone for Tezos dApps and the broader web3 community. By integrating self-sovereign identity, off-chain verifiable credentials, and compliance NFTs on the Tezos blockchain, Altme empowers users to navigate the regulatory landscape while preserving their privacy and data security.
Altme invites Tezos web3 dApps, platforms, and protocols to explore this groundbreaking on-chain compliance solution and experience its benefits.