BNB

Altme Launches the 1st Decentralized On-Chain Compliance Solution for BNB Chain dApps and DeFi Platforms

by BSC News

June 19, 2023

chain

The solution aims to provide privacy-focused compliance within the rapidly evolving DeFi ecosystem.

[Paris, France] - Altme, a frontrunner in the Decentralized Identity landscape, announces the launch of the first decentralized on-chain compliance solution for BNB Chain dApps. 

Breaking new ground with a privacy-focused compliance solution for Web3

This new product introduces a new era in seamless, privacy-preserving compliance in the rapidly evolving web3 ecosystem, particularly within the Decentralized Finance (DeFi) ecosystem.

Altme's on-chain compliance solution ingeniously combines decentralized identity and NFTs to help BNB Chain dApps remain regulation compliant while protecting their users' privacy. 

Bringing seamless onchain compliance to the BNB Chain ecosystem

With Altme's solution, BNB Chain dApps can verify user compliance directly onchain. Here is how it works: 

1. Download the Altme wallet: Altme is a non-custodial self-sovereign identity wallet that gives users complete ownership and control over their personal data. 

2. Follow a one-time KYC: In the Altme wallet, users undergo a robust built-in KYC process and obtain several verifiable credentials such as proof of identity, proof of age, and proof of compliance. These credentials are self-sovereign, reusable, and easy to share.

3. Mint a compliance NFT: After obtaining their verifiable credentials, users can mint compliance NFTs directly on the BNB Chain. These non-transferable NFTs symbolize a unique compliance status, ensuring regulatory compliance while preserving user privacy.

Once users have minted their compliance NFTs, dApps can instantly monitor user’s compliance onchain, ensuring adherence to various regulations, such as KYC and Anti-Money Laundering (AML), without accessing user’s personal data.

Key advantages of Altme’s decentralized ID solution

The Altme wallet offers unparalleled benefits for web3 users and dApps: 

  • First of all, Altme is open-source and 100% free-to-use. This means all BNB Chain users can follow a free KYC process and mint their compliance NFTs at no cost.
  • Secondly, by building their Decentralized Identity with Altme, users obtain tamper-proof, reusable, and instantly verifiable credentials to prove their identity, age, or compliance 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 introduce one of the first on-chain compliance solutions built on decentralized identity standards," said Hugo MIR, CMO of Altme. "This new generation of crypto wallet will help Web3 users take full control of their personal data and protect their privacy, while also enabling dApps to remain fully compliant with regulations."

How to get started:

Altme invites all BNB Chain users, dApps, and protocols to explore its decentralized identity wallet and experience its benefits. 

About Altme:

Altme is a leading provider of decentralized identity solutions for the web3 ecosystem. With a focus on self-sovereign identity and privacy, Altme enables compliant interactions between users and decentralized applications. Built on open standards and driven by a commitment to decentralization, Altme is shaping the future of decentralized web3 compliance: https://altme.io  

Press Contact: Hugo MIR - Chief Marketing Officer at Altme

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