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LTONetwork Integrating Chainlink Oracles to Bring Accreditation Data to Ethereum dApps

LTONetwork Integrating Chainlink Oracles to Bring Accreditation Data to Ethereum dApps

All Cryptocurrencies

by COINS NEWS 13 Views

https://blog.ltonetwork.com/chainlink-oracles-b2b-accreditation-ethereum/

Still trying to wrap my own head around this and some people might think "Oh look another integration with Chainlink, big whoop", but this seems to tackle one of the hurdles that institutional investors are facing when trying to enter the crypto space.

LTO Network provides the structure for companies to prove and vet those employed in the company and what signing power they would have to make transactions/decisions. Combining SSL EV and associations (a particular transaction type on LTO Network) provides a verifiable record of ownership for any blockchain address. Not everyone would like to have their blockchain address KYC'ed of course but for businesses/enterprises looking to enter the blockchain space this would be essential so they actually can trust the other blockchain address that they are working with.

This combined technology of LTO, Chainlink and *insert any blockchain* Ethereum will give dApp developers the tools to ensure full compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations when dealing with financial transactions on a public blockchain.

This looks to be another step forward in the adoption process of blockchain throughout the world and I think that's pretty cool.

submitted by /u/CryptoNarf
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