Proofi is LTO Network’s identity solution which solves KYC problems for DeFi.
Powered by ChainLink, Proofi was announced earlier this year and the first stage of the public unveiling of the technology and its development is finally here.
The Public Beta
The Proofi Public Beta Demo is available here: https://app.proofi.com/
This tech demo is designed to show how Proofi can be used in a project, by allowing a user to go through a KYC procedure in order to determine if they are eligible to be part of an NFT project.
Proofi is quite simple in how it works in DeFi applications, it reduces complex KYC permissions and processes down to a simple “yes” or “no” and in this public beta demo this is demonstrated in an imaginary NFT project.
Depending on their credentials and geographic location (which is verified through the KYC process), a user will be allowed to issue a specific variation of an NFT.
For this demo, only users located in the northern hemisphere can mint on Proofi North, and the opposite rules apply for Proofi South. Proofi Global can be minted by everyone regardless of their country.
The NFT project however doesn’t get told any of this information, it simply gets told ‘yes’ or ‘no’.
Proofi and beyond
Being such a new technology, this demo is intended for users and developers to get a feel for some of the basic ideas around Proofi. From here we will be making our own public NFT project to better develop Proofi around real-world projects as we work our way towards delivering Proofi 1.0 which will be ready for businesses, projects and exchanges to integrate.
About Proofi by LTO Network
Proofi by LTO Network is a new service built by the team that is behind award winning Dutch blockchain LTO Network and fellow Dutch legal team, Firm 24.
Using LTO Network’s experience with world leading enterprises such as United Nations, IBM and Dutch Government along with their proven capabilities in complex regulatory and privacy-aware blockchain applications, it aims to become an industry leading cross-chain solution to solve KYC problems and allow DeFi projects to operate in an increasingly regulatory heavy world.
Learn more about Proofi by LTO Network by visiting proofi.com.
About LTO Network
LTO Network is Europe’s most advanced blockchain project. It is fully decentralized and highly efficient. Currently it is used worldwide by businesses, governments and institutions like the UN, Dutch government and more.
The network has several technologies that can be used to provide solutions for decentralized data security, digital identities, privacy and the ownership of digital assets and digital collectibles.
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