BainLink, a decentralized Oracle Blockchain network for communication in the transition, introduced compliance frames aimed at unlocking the capital of institutional investors with a value of over $ 100 trillion for cryptocurrency space.
Decentralized Oracle network announced Edition of an automated compatibility engine (ACE) on Monday. The system provides a modular and standardized frame for regulatory compliance management in both customary and decentralized financial systems (DEFs).
BainLink said that the novel standard would allow the creation of digital assets and services oriented in public and private networks of blockchain, including multiple digital identities, automatic policy enforcement, compliance with digital settlement of assets and regulated assets in the field of DEFs.
The announcement said that ACE currently has access to selected institutions and aims to unlock a novel capital worth $ 100 trillion.
The standard was built in the Baimllink environmental environment and begins cooperation with market participants, including Financial Solutions Provider Apex Group, Global Legal Ente Identifier Foundation (Gleif) and the ERC-3643 Association.
Existing compliance processes in customary finances are often crushed and steep, which causes billions of dollars of institution costs.
In accordance with research on compliance with financial crime for institutions in the USA and Canada, it costs over $ 60 billion in 2023. report Lexisnexis and Forrester Consulting.
Mainlink said that his compliance framework integrates existing digital identity solutions and support both the principles regarding onchain and offchain rules, enabling the implementation of institutional digital digital assets in a consistent way.
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AS to unlock the institutional capital worth 100 trillions
According to Sergey Nazarov, co -founder of BainLink, ACE aims aimed at faster, cheaper and more true compatibility of digital resources.
“If you do a digital resource and use the chain standard to comply with this digital resource, it will be better, cheaper and faster than its traditional alternative,” said Nazarov, adding:
“ACE LINK LINK is a standard of compliance and identity that the tokenized asset economy was waiting for, and today’s premiere is the final critical component for over $ 100 trillion in institutional capital to move on the subject.”
Previous solutions were often based on manual risk monitoring processes and identity verification, which often caused duplicate efforts between contractors due to lack of transparency.
On the other hand, BainLink architecture allows you to repeatedly apply the logic of compliance, update and feasible in any combination of tokens standards, which, he claims, will cause lower costs of implementation and operational complexity.
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According to Alexandre Kech, Gleif CEO, the Mainlink compatibility engine is “a powerful example of how verifiable organizational identity can increase compliance with blockchain ecosystems.”
“As the regulatory expectations evolve in both digital and traditional finances, we encourage all financial institutions to explore their solutions, how VLEI can strengthen the trust, interoperability and the ability to control compliance in their framework,” said Kech.
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