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ALTME launches a FREE on-chain compliance solution for Tezos users, dApps, and DeFi platforms

Today, ALTME has announced the launch of its decentralized on-chain compliance solution, now available for free to all users, dApps, and DeFi platforms in the Tezos ecosystem.

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Today, ALTME has announced the launch of its decentralized on-chain compliance solution, now available for free to all users, dApps, and DeFi platforms in the Tezos ecosystem.

Altme is offering this innovative, privacy-preserving compliance solution at no cost to everyone within the Tezos community: users, dApps, DeFi protocols, decentralized platforms.

Users can follow this link to mint a Tezos compliance NFT with the Altme wallet.

A privacy-preserving solution that respects user data

Altme’s on-chain compliance solution combines Decentralized Identity (DID) and NFTs. This provides Tezos dApps with an effective tool to maintain regulatory compliance while protecting user privacy. 

By leveraging Altme, Tezos dApps can verify user compliance directly onchain. 

Here’s how it works:

  1. Download the Altme wallet : This non-custodial, free-to-use, self-sovereign identity wallet provides users with full control over their personal data: https://altme.io 
  2.  Complete a one-time KYC verification : Users go through a built-in KYC procedure within the Altme wallet, obtaining verifiable credentials, including proof of identity, age, and compliance. These credentials are self-sovereign, reusable, and shareable at ease.
  3. Mint a Compliance NFT : After receiving verifiable credentials, users can mint compliance NFTs directly on the Tezos blockchain. These non-transferable NFTs display a binary compliance status, safeguarding regulatory compliance and user privacy.

Post NFT minting, dApps can instantly check users’ DeFi compliance on-chain, ensuring compliance with diverse regulations, such as KYC or Anti-Money Laundering laws (AML). Meanwhile, users’ personal data remains off-chain at all times.

Key advantages of Altme’s Decentralized ID solution

The Altme wallet offers the following benefits to Tezos users and dApps :

  • Open-source : In their commitment to transparency, anyone can review the code of the Altme wallet.
  • Free-to-use : The Altme wallet allows anyone in the Tezos ecosystem to undergo a free KYC process, claim their verifiable ID credential, and mint their compliance NFTs without incurring any cost.
  • Non-custodial : Being a self-sovereign wallet, Altme ensures that only you control your keys, coins, and data.
  • Decentralized identity standard : With Altme, users retain control of their data at all times. They own fraud-proof, reusable, and instantly verifiable credentials, allowing them to easily prove their identity, age, compliance, and more… in the web3 ecosystem.

By combining self-sovereign identity with NFT in a user-friendly wallet, Altme empowers users to navigate the growing web3 regulatory landscape while preserving their privacy and data security.

We are extremely happy to offer one of the first on-chain compliance solutions based on decentralized identity standards, for free.

The ALTME wallet enables dApps to remain compliant with regulations while granting Tezos users full control over their personal data and privacy. In doing so, we are pushing the boundaries of Decentralized Identity (DID).”

– Hugo MIR, CMO of Altme

The future of on-chain compliance

Altme invites all dApps, platforms, and protocols on the Tezos blockchain to build on top of the Altme wallet and help make decentralized on-chain compliance a reality.

The Altme wallet is free to download on iOS and Android. After verification, users can mint their compliance NFT here: https://issuer.talao.co/defi/nft/tezos 

Please don’t hesitate to contact them via their website if you have any questions.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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