On January 27, Astra Protocol, a cutting-edge legal compliance layer for public blockchains, announced that it has built a Compliance Hub in the Sandbox metaverse world.
The new Compliance Hub will provide Sandbox metaverse users with a decentralized compliance layer including Anti-Money-Laundering (AML) and Know-Your-Customer (KYC) capabilities.
Resolving on-chain compliance issues
Astra Protocol aims at resolving on-chain compliance issues through its patented technology and partnership with trusted legal firms.
With the new Compliance Hub, Astra wants to make the emerging metaverse safer for every participant. Developers will be able to add compliance features on their metaverse projects developed on The Sandbox.
The Compliance Hub has a Decentralized Legal Network (DLN) that brings together all the major global legal and audit providers for the best KYC/AML services. The DLN spans over jurisdictions in over 195 countries, ensuring that regulations in most parts of the world are covered.
Astra Protocol chose to use The Sandbox to launch the Compliance Hub since a majority of metaverse users are flocking to the network.
The founder of Astra Protocol Jez Ali said:
“We are delighted to announce the Astra Protocol’s entry into the metaverse with our first plot in The Sandbox. The future of metaverse development will be a long-lasting and innovative mission which has already shown incredible growth and is an exciting area of Web3. By deploying the first Compliance Hub in the metaverse, we can support this growth by adding a layer of protection for users across the world.”
Whitelisting process on Compliance Hub
To get whitelisted, metaverse users on The Sandbox network should go to the Compliance Hub, gain accreditation, and then receive a non-transferable NFT that allows them access to otherwise inaccessible special events.
The users do not have to worry about their identity being compromised as they take part in the exciting metaverse world. The Astra solves identity issues thus protecting users from malicious accounts.