[PRESS RELEASE – Amsterdam, Netherlands, November 16th, 2023]
In the present day, Australian firm Blue Biometrics Pty Ltd (Blue) and Dutch Layer-1 Blockchain Community, LTO Community (LTO) introduced their collaboration to ship a cross-chain proof-of-humanity resolution. Collectively, they intention to weed out dangerous bots and meet the rising want for identification and fraud prevention for crypto property. Clients will quickly seamlessly use identiblue by Blue for biometric recognition of individuals and Proofi by LTO for recognizing wallets to show {that a} pockets is being operated by a singular actual particular person, generally known as ‘proof-of-humanity.’
Scalper bots can break an NFT drop or DeFi participation by making one-per-person guidelines ineffective and distorting the method. The EU’s MiCA (Markets in Crypto Belongings) laws requires efficient KYC measures supplied by crypto corporations and in addition imposes fraud prevention tasks.
LTO COO Shawn Naderi stated, “Proofi leverages Chainlink to ship the cross-chain identification resolution that DeFi has been crying out for. Including identiblue gives the hyperlink from a pockets to the actual particular person.”
Blue CEO Kenneth King stated, “Cybersecurity takes a community, and the mix of Proofi and Identiblue will give blockchain companies, DAOs, and crypto corporations a collection of choices to cease dangerous bots ruining the expertise for good people. It is going to make compliance simpler whereas defending privateness and safety.”
Whereas identiblue and Proofi are standalone identification options, combining each gives a lot better flexibility for the blockchain world to enhance the person expertise and safety. LTO and Blue stated a beta would start quickly, and they’re contemplating purposes to affix the beta. They emphasised that whereas no resolution was the definitive reply to bots and fraud, each corporations have been eager to assist blockchain communities so they may thrive.
About LTO Community
LTO Community is a Layer 1 blockchain with a Public and Personal layer to deliver real-world property on-chain and supply options for digital possession, decentralized identities, and privateness.
About Blue Biometrics Pty Ltd
Blue Biometrics (Blue) is among the international leaders in software program that permits smartphones to be contactless fingerprint scanners. Blue will quickly launch a multimodal digital identification service known as ‘identiblue,’ which makes use of a mix of contactless biometrics and cyber safety know-how for privateness, ultrasecurity, and handy use: https://www.identi.blue/
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