Regulatory Compliance in a Decentralised Ecosystem

DeFi protocols and decentralised organisations are fast approaching a pivotal moment. The time will come when governments and authorities will demand some form of regulatory compliance. The immense possibilities DeFi provides are currently limited by the associated risks. We are already seeing some jurisdictions clamp down on particular protocols in New Jersey, London and many others. For the meteoric rise to continue, authorities need to be on board.

There is, of course, a significant challenge. How do we achieve regulatory compliance in a decentralised ecosystem? To have security, we need accountability. But, to have accountability, we must have details of network participants. In some ways, this appears to go against the very nature of decentralised platforms. As soon as a DeFi protocol begins to request KYC information or perform due diligence, they stop being a decentralised platform. Uniswap, AAVE or Compound, cannot start performing their own KYC compliance and storing the details because they would effectively become traditional, centralised financial services. Precisely what they want to avoid.

When governments insist that DeFi protocols must comply with regulatory requirements, there are three options,

  1. Fold,
  2. Become centralised (not an option),
  3. Use the unparalleled Astra platform.

As a decentralised legal layer, Astra allows DeFi protocols to comply with regulation, without compromise. Astra has been designed and built to verify information in different settings. We have developed a patented technology layer that selects the most suitable experts (Delegates) to examine the evidence, data or contractual information and return a fair decision based on their findings. Astra technology can verify the credentials of would-be DeFi users, so decentralised protocols don’t have to. Upon receiving a request from a new user, the decentralised organisation would use Astra as the decentralised compliance layer without having to request and store KYC information themselves. Without this, compliance cannot be achieved in a decentralised world.

The decentralized world needs a decentralized legal layer. The decentralized world needs ASTRA.

The beauty of Astra’s technology is that it selects Delegates from a pool of highly trusted and accountable individuals. Many have worked for globally renowned institutions such as KPMG, PwC, EY and Deloitte and bring unrivalled experience and expertise. The platform allows Delegates to work remotely from anywhere is the world, meaning Astra can select the most appropriate individuals to review each case regardless of location.

Whether someone is looking for compliance in Ireland or Vanuatu, Astra has experts with the right experience and knowledge.

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Astra Protocol

Astra Protocol

Our mission is to equip the DeFi world with a fully decentralised compliance layer. Unlocking the future growth of the industry. www.astraprotocol.com