Kenny
@clashy
𝐒𝐭𝐫𝐮𝐠𝐠𝐥𝐢𝐧𝐠 𝐭𝐨 𝐛𝐚𝐥𝐚𝐧𝐜𝐞 𝐮𝐬𝐞𝐫 𝐩𝐫𝐢𝐯𝐚𝐜𝐲 𝐚𝐧𝐝 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐖𝐞𝐛𝟑 𝐩𝐫𝐨𝐣𝐞𝐜𝐭? ⚖️ Want to build a product that’s both innovative and compliant? Look no further than @swisstronik- 🧵🪡🧵
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Kenny
@clashy
Swisstronik, a hybrid blockchain, simplifies the process of building compliant Web3 and traditional products by offering on-chain KYC, AML, and DPR solutions. This allows apps to maintain a balance between user privacy, regulatory compliance, and decentralization.
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Kenny
@clashy
Swisstronik, a layer-1 blockchain built on Cosmos SDK, is compatible with both EVM and non-EVM chains. It uses bridges for non-Cosmos chains and IBC for Cosmos chains to ensure compatibility with popular blockchains.
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Kenny
@clashy
𝐅𝐄𝐀𝐓𝐔𝐑𝐄𝐒 𝐎𝐅 𝐒𝐖𝐈𝐒𝐒𝐓𝐑𝐎𝐍𝐈𝐊 ➺Swisstronik Compliance Suite: The swisstronik Compliance Suite is a unique network that brings together international regulators, KYC issuers, and legal service providers. This network operates in a self-regulating manner, similar to a DAO. By continuously adapting the Swisstronik system to local regulations and providing expert consultation to builders, the Compliance Suite ensures that apps built on the platform remain inherently compliant even as regulations evolve. This eliminates the need for extensive legal expertise or manual compliance checks, making it easier for developers to build compliant #Web3 and traditional products. ➺Combination of software and hardware privacy tech: zk-SNARKs and Intel SGX Swisstronik employs a combination of zk-SNARKs and Intel SGX to ensure ultra-private and secure on-chain KYC, AML, and other user verifications.
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Kenny
@clashy
▫️zk-SNARKs: These cryptographic techniques allow for the verification of computations without revealing the underlying data. This ensures that user data remains private even during verification processes. ▫️Intel SGX: This hardware-based trusted execution environment provides a secure enclave within a processor, protecting sensitive data from unauthorized access By leveraging these technologies, Swisstronik enables Web3 companies to achieve KYC, AML, and DPR compliance while maintaining strong privacy guarantees for users.
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Kenny
@clashy
🔹 What problems are targeted by Swisstronik? ➺Complex and Ever-Changing Regulations: Web3 product builders face challenges in keeping up with the constantly evolving & fragmented regulatory landscape in the crypto industry. This can lead to compliance issues & increased costs. ➺Trade-off Between Privacy, Decentralization, and Compliance: Many Web3 projects are forced to choose between prioritizing user privacy and decentralization on one hand, and complying with regulations on the other. This can be a difficult balancing act. ➺User Privacy Concerns: App users often face a dilemma: either rely on centralized parties for identity verification, risking their personal data, or remain in the unregulated and risky gray area of the crypto industry. Swisstronik aims to address these issues by providing a set of decentralized and chain-agnostic tools that enable Web3 product builders to easily comply with regulations while maintaining user privacy and decentralization.
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