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Announcements Astra

Astra Protocol Announces Legal Compliance Layer for the Sandbox Metaverse

In a recently released report, Astra Protocol said that it plans to roll out a legal compliance layer for the Sandbox Metaverse. The compliance layer will increase the security measures to protect the Sandbox Metaverse users.

Astra Protocol and the Sandbox Metaverse

Astra Protocol has announced that it will add a new compliance and security tool to the sandbox metaverse. The tool will help introduce Astra’s technology to the Metaverse and protect all users.

According to the announcement, the safety brought by the new compliance layer will significantly benefit the Sandbox Metaverse. It will make the metaverse users feel more secure, thus enhancing their Sandbox Metaverse experience.

Per Jez Ali, the founder of Astra Protocol, the new compliance layer features Know-Your-Customer (KYC) and Anti-Money-Laundering(AML) features, these features are critical to any crypto project that wants to keep its users safe from bad players. Ali also noted that the Metaverse sector had seen an incredible growth rate, improving it.

He also added that the Sandbox innovation is “an exciting area of Web3” that his team was glad to support through the compliance layer.

A Viable Partnership

Astra Protocol is a blockchain-powered platform that integrates decentralized dispute and compliance layers to other blockchains and crypto ecosystems. It operates in 195 countries to provide its clients with KYC/AML services.

In the new joint effort with Sandbox Metaverse, users will benefit from it by connecting to Astra’s DLN through the compliance layer. They will also benefit from being protected from malicious accounts and bad players.

The Sandbox is among the most popular and fastest developing metaverse project. It is an Ethereum based project with a market capitalization of $3.6 billion. This market cap puts it in second place after Decentraland in the category of Metaverse crypto projects.

Is Metaverse The Future?

The Metaverse is a fantasy-based innovation that institutions can use to communicate and diversify the reality of their services. The innovation is virtual and currently touches more on video games, even though several other institutions have joined it. Facebook was the first company to join the Metaverse. It began by rebranding and announcing building a metaverse.

The CEO of Meta, Mark Zuckerberg, claims that the Metaverse will be a revolutionary development that will carry radical change to the current internet. According to him, this technology will help to unite people from different locations virtually while giving them a chance to witness the turns of events.

It is expected that the Metaverse will not be uniform since almost every interested institution is making its iteration. Recently, CNBC announced that Walmart, a US-based multinational retail company, was also planning to join the Metaverse via NFTs. Apple CEO Tim Cook also said that his company sees potential in the Metaverse.

Microsoft CEO also said that his company sees potential in the Metaverse and may build one. He detailed that if they succeed in building one, it will serve as the venue for most company meetings. Even though these developments are enticing, it is good to keep an eye on further developments since the Metaverse is still young. Therefore, subject to significant changes.

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Announcements Astra

Astra Protocol Secures a $9 Million Investment Round To Set Forth Decentralized Compliance in The DeFi Space

·3 min read

ZURICH, SWITZERLAND / ACCESSWIRE / December 22, 2021 / Astra Protocol is pleased to announce it has secured $9 million through its token raise. In addition, top-tier investment groups and individuals have backed the project, confirming the need for decentralized compliance in the decentralized finance industry.

Things are progressing rapidly for Astra and its globally patented protocol. The initiative focuses on equipping DeFi smart contracts with a fully decentralized compliance layer. That layer offers both Know-Your-Customer and Anti-Money-Laundering capabilities. Moreover, the compliance layer can act as a tool to resolve any real-world compliance issues with the help of various renowned legal firms.

The ongoing growth of decentralized finance has shown a need to adhere to strict rules determined by society. The majority of protocols on the market today do not provide this functionality, yet the change will be inevitable. Without a compliance layer, developers and users may lose control of the ecosystem.

Moreover, the current technology landscape allows for overcoming and resolving any disputes that may arise. Therefore, an on-chain dispute resolution system is crucial, particularly for decentralized finance and the high risks it can present. Astra Protocol offers legal assurance, framework, dispute resolution, and regulatory compliance for lending and borrowing, derivatives, stablecoins, asset management, decentralized insurance, and decentralized exchanges.

The Astra Protocol token raise concluded recently, raising $9 million for the team to keep building and evolving its compliance layer. Notable investors in the project include Republic, DAOMaker, Fundamental Labs, Faculty, Richard Dai, and Wave GP Cardano.

Jonathan Han, Partner at Republic comments:

“We believe Astra’s solution is a key part of the critical movement for DeFi to become mainstream. We are excited to back the Astra team who works diligently to bring the benefits of DeFi to more people and organizations”.

Astra Protocol co-founder Arthur Ali comments:

“We are extremely pleased to announce the closure of our token raise and proud to announce strong backing from the top tier investment groups and individuals such as; Republic, DAOMaker, Richard Dai, Fundamental Labs, and institutional backing. We firmly believe that ASTRA is key to the future of DeFi. It will allow us to unlock the next path of growth in the industry, allowing more compliant practices across multiple countries and ensuring further participation from major traditional institutions. Our globally patented technology will seamlessly allow DeFi to continue its growth whilst promoting greater confidence from regulators without compromising decentralization.”

Astra Protocol has secured further globally recognised partnerships with the world’s leading legal and auditing firms, with further announcements released imminently.

About Astra Protocol

Our mission is to equip all DeFi smart contracts with a fully decentralized compliance layer, including KYC & AML capabilities, to act as a tool to resolve real-world compliance issues using the expertise of trusted legal firms.

CONTACT:
Arthur Ali
[email protected]

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Announcements Astra

Astra Protocol raises $9M in private sale to bring decentralized compliance to the DeFi ecosystem

Astra Protocol is pleased to announce it has secured $9 million through its token raise. In addition, top-tier investment groups and individuals have backed the project, confirming the need for decentralized compliance in the decentralized finance industry.

Things are progressing rapidly for Astra and its globally patented protocol. The initiative focuses on equipping DeFi smart contracts with a fully decentralized compliance layer. That layer offers both Know-Your-Customer and Anti-Money-Laundering capabilities. Moreover, the compliance layer can act as a tool to resolve any real-world compliance issues with the help of various renowned legal firms.

The ongoing growth of decentralized finance has shown a need to adhere to strict rules determined by society. The majority of protocols on the market today do not provide this functionality, yet the change will be inevitable. Without a compliance layer, developers and users may lose control of the ecosystem.

Moreover, the current technology landscape allows for overcoming and resolving any disputes that may arise. Therefore, an on-chain dispute resolution system is crucial, particularly for decentralized finance and the high risks it can present. Astra Protocol offers legal assurance, framework, dispute resolution, and regulatory compliance for lending and borrowing, derivatives, stablecoins, asset management, decentralized insurance, and decentralized exchanges.

The Astra Protocol token raise concluded recently, raising $9 million for the team to keep building and evolving its compliance layer. Notable investors in the project include Republic, DAOMaker, Fundamental Labs, Faculty, Richard Dai, and Wave GP Cardano.

Jonathan Han, Partner at Republic comments:

“We believe Astra’s solution is a key part of the critical movement for DeFi to become mainstream. We are excited to back the Astra team who works diligently to bring the benefits of DeFi to more people and organizations”.

Astra Protocol co-founder Arthur Ali comments:

“We are extremely pleased to announce the closure of our token raise and proud to announce strong backing from the top tier investment groups and individuals such as; Republic, DAOMaker, Richard Dai, Fundamental Labs, and institutional backing. We firmly believe that ASTRA is key to the future of DeFi. It will allow us to unlock the next path of growth in the industry, allowing more compliant practices across multiple countries and ensuring further participation from major traditional institutions. Our globally patented technology will seamlessly allow DeFi to continue its growth whilst promoting greater confidence from regulators without compromising decentralization.”

Astra Protocol has secured further globally recognised partnerships with the world’s leading legal and auditing firms, with further announcements released imminently.

About Astra Protocol

Our mission is to equip all DeFi smart contracts with a fully decentralized compliance layer, including KYC & AML capabilities, to act as a tool to resolve real-world compliance issues using the expertise of trusted legal firms.

Contacts

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ASTRA Protocol and Squire Patton Boggs Partner on Crypto Compliance for Institutional Investors

Dublin, Ireland, 8th November 2021,

Squire Patton Boggs, one of the world’s leading full-service legal companies for ensuring cross-border compliance counselling as well as incident response, has announced a new partnership with internationally-patented ASTRA Protocol, in order to give assurance and compliance confidence to the decentralized finance (DeFi) ecosystem.

Squire Patton Boggs maintains business offices in 20 different countries on four continents. The firm’s international legal practice is in key markets where clients regularly carry out high volumes of business, focused on the digital assets sector.

Their ecosystem also includes strategic working relationships with independent companies operating in European and Latin American markets. Their extensive practice and industry expertise are shared through one of the most advanced tech platforms in the legal industry along with an ongoing rotation of legal professionals to their offices across the globe. In addition, the firm applies industry knowledge as well as project-management tools to implement regular business process enhancements and improve the overall value of their legal services.

Astra Protocol, a cutting-edge legal and compliance layer that brings unmatched assurance to public blockchains, is pleased to confirm that it is working cooperatively with Squire Patton Boggs, which will be accepting ASTRA as its first DeFi payment method.

Leveraging Decentralized Assurance Layer on Public Blockchains

Although current blockchain and crypto firms have created challenges for regulatory authorities throughout the world, Astra Protocol offers a decentralized assurance layer on public blockchains to support the exponential growth of DeFi.

Astra’s assurance layer is able to plug into an existing DeFi platform in order to ensure that the funds arrive at their intended destination, via its internationally patented technology. The protocol has been designed to prevent insecure or invalid smart contracts from executing. If a transaction turns out to be fraudulent or if the funds end up in the incorrect crypto wallet address, then Astra is able to resolve the dispute and restore the funds right away, while also following applicable regulatory guidelines.

Joe Crowley, Senior Policy Advisor at Squire Patton Boggs, is also an American politician who served as U.S. Representative from New York’s 14th congressional district from 1999 to 2019, said “We are pleased to partner with the ASTRA Protocol team and are looking forward to working with their colleagues around the globe”.

Crowley added “ASTRA is the preeminent compliance protocol business within the DeFi industry that is able to give assurance to regulatory agencies as well as individual clients, which in turn will help boost confidence in DeFi’s legitimacy as a global industry”.

Sakhib Waseem, Chief Innovation Officer at ASTRA Protocol said “We are extremely pleased with our partnership with Squire Patton Boggs and look forward to working with Congressman Crowley and his organisation. As we at the ASTRA Protocol define the next generation of decentralised global compliance structure across the DeFi industry, it is important to have key partners who understand the needs of both the crypto community and are in tune with the latest changes in the regulatory space”.

“Squire Patton Boggs have a great presence across the US and internationally, this partnership is another affirmation we have the latest understanding of regulatory enhancements around the world and can provide an industry leading standard to our customers and clients”, Sakhib adds.

About Astra

Astra Protocol’s mission is to equip the DeFi world with a full legal layer. Removing doubt, eliminating fraud and dealing with disputes making public blockchains safe for all users. Unlocking the future growth of the industry.

Decentralised Finance, or DeFi, has become one of the most attractive, exciting and lucrative blockchain markets. But the harsh reality is that if funds are sent to the wrong wallet address or the transaction is a scam — money is likely to be lost forever. With very few regulations in place to protect consumers, DeFi is too high-risk for big corporations. What is missing is an assurance layer that connects the crypto world and the real world to provide trust and peace of mind.

Our solution is ASTRA. This revolutionary legal layer plugs into any existing platform, ensuring all funds arrive safely at their correct destination. Even if something goes wrong, we can quickly and efficiently resolve the issue with ASTRA and restore your funds immediately.

About Squire Patton Boggs

Squire Patton Boggs is a full service global law firm providing insight at the point where law, business and government meet, giving you a voice, supporting your ambitions and achieving successful outcomes.

To view the company’s legal notices, please visit: https://www.squirepattonboggs.com/en/footer/legal-notices.

With a multidisciplinary team of over 1,500 lawyers in 45 offices across 20 countries, the firm is well-established geographically with strong local and regional positions in North America, Europe, Asia Pacific, the Middle East and Latin America, and our practice experience spans all key sectors.

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Advisory Board Appointment

RNS Number : 9338D

Proof of Trust & Assurance (The)

02 July 2021

 

The Proof of Trust and Assurance Ltd

(the “Company”)

 

Advisory Board Appointment: Johan van den Arend Schmidt

 

DUBLIN, Republic of Ireland, 2 July – The Proof of Trust & Assurance, the world’s first globally patented smart contract validation and automated dispute resolution platform, today announces the appointment of Johan van den Arend Schmidt as Chief Technical Architect and the sixth member of The Proof of Trust’s Advisory Board.

 

Van den Arend Schmidt joins The Proof of Trust from IBM where he created and led the European Blockchain Innovation Unit. He has extensive international technology and digital transformation experience including as CEO of CapGemini Consulting, as Partner at PwC, and from his 11 years at The Boston Consulting Group. He was also an executive committee member of a FTSE 100 company.

Van den Arend Schmidt will be integral in supporting The Proof of Trust as it continues to commercialise its ground-breaking, patented protocol, which is designed to change the way business is conducted and provide relief to dispute resolution centres around the world.

Johan van den Arend Schmidt, said: “The Proof of Trust is a company that I believe will truly change the world. It brings reality and trust to digital transactions. No company previously had the vision to think through where you go in a digital world when things go wrong, but The Proof of Trust did. I am keen to support a company that is going to change how businesses and governments operate. The Proof of Trust provides a solution that is the quantum leap we need to bring mature services into the digital age.”

Damien O’Brien, Executive Chairman and co-founder at The Proof of Trust, said: “Johan has extensive experience of building, managing and growing technology businesses as well as expertise in helping lead a successful listed business. This will be invaluable to us as we continue to develop commercial partnerships across the globe and deliver our innovative IBM backed protocol. We have worked with Johan for several years and are delighted to have him directly involved in our future success.”

 

The formation of the Advisory Board was announced in May 2021, which included the appointment of Lord Hill of Oareford, who led the UK Listings Review and the appointment of former European Commissioner for Trade, Phil Hogan. The Company continues to roll out its ground-breaking protocol through partnerships with governments and major corporate institutions across the globe.

-ENDS-

 

ENQUIRIES:

The Proof of Trust & Assurance             [email protected]

Hawthorn Advisors                          [email protected]  

THE ASTRA PROTOCOL PARTNERS

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