After tireless months of meticulous work and testing, we are thrilled to unveil our new product - the industry's first on-chain compliance solution built on decentralized identity. Designed to uphold the cardinal principles of decentralization and privacy, Altme is the new vanguard in compliance solutions for Web3 businesses and decentralized applications.
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1st decentralized and privacy-preserving onchain compliance solution for Web3
In an era where data privacy and security are paramount, we believe compliance solutions should be decentralized and user-centric. Our answer to this challenge is Altme, a self-sovereign identity wallet (SSI) equipped with a robust built-in Know Your Customer (KYC) process. This advanced process not only verifies users but also awards several reusable verifiable credentials, such as proof of identity, proof of age, and proof of Decentralized Finance (DeFi) compliance, amongst others.
One of the unique aspects of Altme is that these verifiable credentials remain off-chain in the user's wallet, creating an added layer of privacy and data security. After a successful verification process, users can then mint compliant Non-Fungible Tokens (NFTs) directly on-chain. These NFTs, which are non-transferable and void of any personal information, represent a binary compliance status tied to a specific user's blockchain address. By keeping personal data off-chain at all times, Altme ensures user privacy is uncompromised.
Effortless on-chain compliance monitoring with Altme
Altme presents a straightforward, secure way for Web3 dApps to monitor user verification status. By checking for compliance NFTs within user wallets before granting access to their protocols, businesses can effortlessly uphold compliance measures. This process doesn't expose any personal data as it remains securely off-chain, ensuring a secure, privacy-first compliance checking system.
The best of both worlds: Altme’s unique approach to Web3 regulation compliance
By synergistically combining off-chain verifiable credentials with on-chain NFTs, Altme’s SSI wallet provides a unique solution in the realm of Web3 compliance. This allows Web3 projects to maintain decentralized compliance verification while ensuring the privacy and security of their users' data.
Altme aligns with the core Web3 principles of decentralization, ownership, and privacy, providing users with complete control over their digital identity and data. With SSI/DID wallet, users are no longer passive participants but active managers of their digital identity.
In the world of decentralized finance (DeFi), compliance with regulations has been a challenge due to the decentralized and permissionless nature of blockchain platforms. However, by leveraging decentralized identity (DID) verifiable credentials and on-chain compliance NFTs, Altme empowers Web3 Decentralized Finance (DeFi) projects to ensure compliance with financial regulations while preserving the principles of decentralization and privacy.
Why Choose Altme’s decentralized identity wallet for compliance in web3 ?
- Self-Sovereign and Decentralized : Altme is a non-custodial wallet, offering users total ownership and control over their data and assets.
- Multi-chain compatibility : Verifiable credentials stored in Altme can be used to mint non-transferable compliance NFTs on any blockchain.
- Respects user privacy : Altme wallet keeps personal data off-chain and inaccessible to dApps, ensuring user privacy.
- Built on open standards : Altme utilizes the W3C decentralized identity standard, guaranteeing secure digital identity interoperability and compatibility across platforms.
- Open-Source : With a commitment to transparency, security, and trust, Altme follows an open-source approach, encouraging community review and auditing of our codebase.
Our dedication to creating a world where Web3 users, businesses, and protocols can achieve regulatory compliance without sacrificing decentralization is at the heart of Altme. As we shape the future of decentralized Web3 compliance, we invite you to join us on this revolutionary journey.
For more information about this pioneering solution and to better understand how it works, we invite you to visit this page or reach out to us directly.
Acknowledgments
We would like to express our sincere gratitude to our partner Meranti for their invaluable support and expertise in deploying this Web3 on-chain compliance solution. Their collaboration has been instrumental in realizing this product, and we are grateful for their contributions 🙏
