Compliance is increasingly becoming more important for projects and users to consider to usher in the next wave of users into #D
08 Dec 2022, 10:54
Compliance is increasingly becoming more important for projects and users to consider to usher in the next wave of users into #DeFi.
Governments are increasingly focused on regulation for blockchain and DeFi, especially in light of recent incidents. Protecting users is essential for industry adoption. But if we mimic existing regulations, it can potentially diminish DeFi's benefits.
Self Regulation could be the answer to balancing the benefits of decentralization with compliance.
Self-regulation includes building decentralized compliance solutions for decentralized finance, championing the benefits of privacy and low barrier of participation while being able to comply with existing regulatory frameworks.
Here are some technological solutions that can be used for self-regulation:
🔎 Know Your Transaction (KYT) and Zero Knowledge Proofs (ZKPs)
👥 AllianceBlock Trustless Identity Verification
🪪 Nexera ID and MetaNFTs
Adopting #SelfRegulation in our industry proves our ability to learn from early mistakes and become proactive in developing compliance solutions that don’t encroach on #DeFi’s core values.
#DeFi is known for great innovation — decentralized compliance is the next frontier.
To learn more about self-regulation and decentralized compliance solutions for decentralized finance, read more in our latest article here 👇
And remember to stay up to date with our developments by joining our official announcement Telegram group 👇
#NoMercy