The convergence of Traditional Finance and Decentralized Finance with Astra Network
How Astra Network combines the best of TradFi and DeFi to amplify the adoption of digital currencies
Astra is preparing to deliver a compliant blockchain for Web3, Astra Network. The advanced iteration of DeFi combines the best attributes of traditional finance with Web3.
Designed to be a fully KYC-compliant decentralized blockchain ecosystem, Astra Network participants are vetted before they are let into the ecosystem. It enables the interoperability of regulators, financial institutions, and DeFi.
We are aware of the critical problems in TradFi, ranging from frauds, operational failures, and malicious actors that have also plagued the crypto and DeFi ecosystem. However, solutions employed in TradFi with features such as counterparty identification and verification (centralized) have made the industry a safer bet.
Similarly, for DeFi, we need regulatory approaches that limit the risks in DeFi while motivating the financial innovations that come along with it.
Astra Network focuses on improving security in DeFi by providing its decentralized compliance layer. It aims to safeguard DeFi protocols and their users by allowing only verified users on the blockchain platforms, thereby reducing the risk of scams and fraud and allowing the market to flourish.
Astra’s overall technology helps on-chain resolution of disputes optimally, along with the help of its legal jurisdiction and major accredited law firm. Astra Protocol contains a Decentralized Legal Network (DLN), a complete package for improved security of blockchain users. It uses processes such as KYC and AML to claim authenticity and avoid money laundering. The DLN also includes a reporting system for analytics and feedback.
Central Bank Digital Currencies
CBDCs are like cryptocurrencies but backed by government institutions tied to the value of fiat currencies of their respective countries, and the demand for them is rising.
Astra Network would be an ideal platform to facilitate government-issued tokens due to its maximum security and low risks transactions.
Astra added more to its credibility with its most recent hirings of the former Chief of Staff for the White House, Mick Mulvaney, and the former Secretary of Homeland, Kirstjen Nielsen, as advisors.
With this, Astra has seamlessly retained its focus on making Web3 a secure space. Astra Network will be a next-gen blockchain that will drive the growth of web3 and create an ecosystem for businesses, individuals, and governments to participate and enjoy the benefits of a decentralized system safely.
A Decentralized Compliance Layer for the Web3 Economy and Delivering the Compliant Blockchain for the future.