Coinbase, Circle, Hedera Hashgraph, Ledger, Solana Foundation, and others, to encourage autonomy over sensitive information.
FTX and Alkemi Network have joined Centre, an open-source technology initiative built by Coinbase and Circle, as the latest partners to collaborate on Verite. Verite is a set of shared decentralized identity protocols created by Centre with the goal of empowering crypto-centric individuals and businesses by giving them complete control over their personal data.
FTX and Alkemi have joined a group of 14 crypto firms that include Coinbase, Circle, Hedera Hashgraph, Ledger, the Solana Foundation, and others in supporting Verite’s promise to collaborate on shared decentralised identification standards.
The future of the crypto ecosystem has arrived. Centre is proud to introduce #Verite, a set of open-source, decentralized identity protocols that will provide a standards-based framework to custody and share personal information.https://t.co/omF96bdo7I
— CENTRE (@centre_io) February 17, 2022
Verite protocols are intended to assist individuals and businesses in keeping track of their personal information while also giving them complete control over how enterprises use it in the crypto economy. “Verite is returning autonomy over sensitive information to individuals while continuing to enable enterprises to communicate with identity-verified participants,” according to the company.
Verite does this by allowing users to cryptographically validate claims about their identities and store those claims with their digital assets in the same crypto wallets. “We are thrilled that our partners share our confidence that Verite’s identification standards will provide a new level of clarity, privacy, and simplicity to everyone trading in the crypto economy,” said David Puth, CEO of the Centre.
Individuals will be able to use their credentials across the crypto ecosystem, making digital assets far more accessible to both crypto natives and novices, according to the announcement. Verite’s protocol integration into smart contracts, applications, and websites does not introduce single-vendor or anti-competitive dependencies, according to the announcement: “Individuals will be able to use their credentials across the crypto ecosystem, making digital assets far more accessible to both crypto natives and novices.”
FTX expands to Europe after receiving CySEC approval
After getting regulatory licence from the Cyprus Securities and Exchange Commission on Tuesday, FTX expanded its crypto services into Europe.
Want to know where FTX is licensed and regulated?
Check out https://t.co/50ELyIX1cd!
The list is growing every week.
— SBF (@SBF_FTX) March 8, 2022
FTX Europe, based in Switzerland, will service European crypto clients through a regulated investment firm across the European Economic Area.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.