Home > Astra Protocol announces a new compliance and security tool for The Sandbox metaverse users

Astra Protocol announces a new compliance and security tool for The Sandbox metaverse users

Astra Protocol is a blockchain-based platform that provides a decentralised dispute resolution layer for public blockchains and the DeFi ecosystem has announced the launch of a compliance hub for metaverse network The Sandbox.

Astra said in a press release shared with Vantage Point that the Hub will add a legal and compliance layer to the rapidly expanding metaverse ecosystem.

The target, according to the announcement, is to avail Astra’s patented technology to the virtual world, allowing for better security to customers. This should see participants in the metaverse enjoy the virtual world experience knowing they are safe from potential safety issues.

Jez Ali, the founder of Astra Protocol, confirmed the deployment of the Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) feature in The Sandbox ecosystem and noted the incredible growth seen in the sector.

He added that the innovation is “an exciting area of Web3” which Astra Protocol was excited to support through the Hub. 

What does Astra Protocol do?

Astra Protocol target on-chain compliance and relies on a team of legal and audit experts, who form the Decentralized Legal Network (DLN). With a presence in 195 countries, the team of global experts is responsible for providing KYC/AML services.

In this case, metaverse participants can benefit from the services by connecting to the DLN via the Compliance Hub. Accreditation works through a whitelisting process, with verified users getting non-transferrable NFTs with which they are able to access various aspects of the metaverse.

More importantly, users are protected from malicious accounts and other bad actors.

The Sandbox (SAND)

The Sandbox is one of the most popular and fastest-growing metaverse-linked crypto projects, currently ranked second behind Decentraland (MANA) in terms of market capitalisation. The Ethereum-based platform has a market cap of $3.6 billion.

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