Brexit Britain’s Brave Stand Against Bitcoin 2842

Crypto needs a leash, but it’s laughable to think that the City of London can hold it on its own. It’s good to see politicians belatedly waking up to the risk of crypto-currencies. British lawmakers are banging the drum for the regulation of Bitcoin, Ethereum and their brethren in order to protect consumers. It may be too late for all those unfortunates who got burned this year, but it’s still a better look than George Osborne eagerly using a Bitcoin ATM back in 2014.

Yet there’s little to suggest Brexit Britain will have the financial muscle or diplomatic clout to do much beyond grab at low-hanging fruit when it comes to digital cash. The fight against money-laundering and financial crime needs serious funding and regional co-operation, both of which will be hampered by an exit from the EU.

Indeed, any international push to properly regulate the crypto-cowboys would be laudable. The possibility of fraud and market manipulation is absurdly high. There has been $2.3 billion in exchange hacks and scams over the past seven years, according to research firm Crypto Aware. There’s also the billions channeled through money-laundering and white-collar crime. Unsophisticated retail investors are a prized target. Plus there’s the problem of the size of digital currency markets. While it is tiny relative to traditional currencies today, crypto has the potential to destabilize the financial system tomorrow.

The dream for governments is a clear regulatory framework that would somehow keep all the good stuff that blockchain technology is promising to generate – jobs, taxes, output – while safely shunning all the nefarious activity that we know Bitcoin and its ilk allows for.

The U.K. Treasury Select Committee calls for the country’s Financial Conduct Authority to be given legal powers to protect consumers and maintain market integrity with regards to Initial Coin Offerings and crypto-currency exchanges. It calls for anti-money laundering regulation. The committee’s rosy view is that this would let the City of London become a global digital currency center.

But how is the FCA meant to achieve this without more money? This is a watchdog that has one employee for every 15 firms it polices. Brexit threatens to take up even more of its bandwidth. FCA chairman Charles Randell said recently that spending an estimated 30 million pounds ($40 million) on preparing for an EU departure had meant “difficult decisions” on his budget elsewhere. Presumably he hasn’t factored in the regulation of thousands of crypto-currencies and exchanges.

Plus a Brexit Britain that goes it alone on regulation might miss out on broader efforts such as the EU’s anti-money-laundering directive that now covers crypto-exchanges. Other jurisdictions that have pitched their own tough rules – like New York – have found exchange activity to be harder to get a grip on than expected. There’s always a country that’s willing to offer crypto-folk an easier life in exchange for their business.

A simpler, though less headline-grabbing, way for Britain to get to grips with its financial crime problem would be cleaning up some of the firms registered with Companies House. That has been a conduit for shell companies and scams worldwide. U.K. corporate entities made up a large part of the customer base of Danske Bank’s Estonian branch, which is at the center of a vast money-laundering scandal.

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Lenfi reinforces trust with a second audit prior to mainnet launch 6228

In a move that underscores its commitment to unmatched security and transparency, Lenfi, a trailblazer in Cardano’s DeFi landscape, has announced the commencement of its second audit, paving the way for its much-anticipated mainnet debut. The upcoming six-week audit, conducted by industry experts TxPipe, marks a significant milestone in ensuring top-notch security for Lenfi’s innovative lending and borrowing protocol.

Simplifying DeFi: Lenfi’s user-centric approach

Lenfi stands out in the complex world of decentralized finance (DeFi) by making its lending and borrowing platform not only secure but also user-friendly. “Our goal is to demystify DeFi, making it accessible and safe for everyone,” says Mantas Andriuska, Co-founder of Lenfi. “This audit is more than a security check; it’s about building trust and delivering a seamless experience to our users.”

Building on a foundation of success

The decision to conduct a second audit follows the successful completion of an initial audit by AnastasiaLabs, which involved an in-depth review and optimization of Lenfi’s code. This rigorous process helped fortify Lenfi’s platform against potential vulnerabilities, setting a high standard in the DeFi sector.

In 2022, under its former name Aada Finance, the team’s commitment to robust security protocols was evident with two comprehensive audits by Vacuumlabs. Since its launch on September 13, 2022, Lenfi’s V1 lending protocol has operated flawlessly, a testament to the team’s meticulous approach.

What sets Lenfi apart?

Lenfi distinguishes itself in the DeFi space with its unwavering commitment to safety and its open-source approach. Transitioning from a peer-to-peer model to a complex pooled lending system on Cardano, Lenfi underscores its dedication to security and transparency. This open-source philosophy not only ensures rigorous scrutiny but also fosters community trust and ongoing innovation in DeFi.

Enhancing user confidence through expert audits

Recognizing that a single audit is not the be-all and end-all of security, Lenfi adopts a multi-audit strategy. “Multiple audits mean diverse expert perspectives, leading to a more resilient platform,” Andriuska explains. TxPipe, as creators of the programming language used in Lenfi’s smart contracts, are uniquely positioned to provide comprehensive and insightful stress tests.

Looking ahead: A safer DeFi future

This second audit is more than a procedural step; it’s a reflection of Lenfi’s vision for a safer, more reliable DeFi ecosystem. As we move closer to the mainnet launch, Lenfi’s unwavering commitment to security, coupled with its innovative platform, positions it as a beacon of trust and efficiency in the dynamic world of DeFi.

Website: https://lenfi.io/
Twitter: https://twitter.com/LenfiOfficial
Testnet: https://testnet.lenfi.io/

Hex Trust Enables Custody For STASIS EURO (EURS) Stablecoin 5722

STASIS, the European fintech company behind the oldest EURO stablecoin EURS, announced the new integration with recognized digital asset custodian Hex Trust today. This integration enables Hex Trust to offer custodial services with EURS to its clients and reinforces Hex Trust’s ambition to diversify its digital assets offering.

Effective immediately, Hex Trust will allow its clients to safely store and manage EURS assets via their Hex Trust Custody solution. “We believe that this integration highlights the growing significance of EURS within the stablecoin realm. Major cryptocurrency players expect the demand for non-USD stablecoins to grow, and at STASIS, we strongly align with these predictions. This integration is a proof of that as our partnership with Hex Trust bolsters the expansion of the EURS Network, which brings together a diverse blend of crypto exchanges, DEXs, wallets, fiat on/off ramps, and various other services. We’re excited to team up with Hex Trust and enable top-tier EURS custody to Hex’s enterprise clients,” said Gregory Klumov, CEO at STASIS.

“The decision to onboard EURS aligns seamlessly with our vision and signifies another milestone for Hex Trust. By offering our 200+ institutional clients the ability to use EURS within our secure custody platform, Hex Safe, we reinforce our position as a trusted provider of comprehensive digital asset solutions. This partnership with STASIS highlights our commitment to meeting the evolving needs of our clients and addressing the growing demand for non-USD stablecoins. We are looking forward to providing top-tier EURS custody and contributing to the continued growth of the digital asset ecosystem,” said Giorgia Pellizzari, Head of Custody at Hex Trust.

EURS by STASIS is the oldest and the only fully compliant and regulated EURO stablecoin on the market with a 5-year track record, over 6B euros transferred on-chain across 5 major blockchains (more distributed ledgers planned), including Ethereum, Polygon, XRP, XDC and Algorand. With zero transaction failures and regular audits by BDO Malta, EURS stands out with its pristine regulatory and compliance status. All EURS assets are backed on a 1:1 basis, and collateral is stored at the Central Bank, mitigating commercial banking risks.

About Hex Trust

Established in 2018, Hex Trust is a fully licensed digital asset custodian dedicated to providing solutions for protocols, foundations, financial institutions, and the Web3 ecosystem. Get access to custody, DeFi, brokerage, and other services built on regulated infrastructure. Hex Trust has offices in Hong Kong, Singapore, Vietnam, Dubai, France and Italy.

About STASIS & EURS

STASIS is a European financial technology firm that develops customer-friendly instruments to enable institutional and retail customers to manage digital currencies and public blockchains for payments and settlements, e-commerce, and DeFi. The company issues, governs, and manages EURS, the only legal stablecoin in the EU, accessible in 175 countries and audited by BDO, one of the most renowned auditors in the world.

Alchemy Pay and zkMe – Transforming KYC With Zkme’s Innovative zkKYC Solution to Provide Privacy-Preserving and Compliant Onboarding 5594

Alchemy Pay and zkMe team up to bring groundbreaking privacy-preserving KYC solutions to onboard users in a compliant, safe and secure manner through the zkMe identity oracle.

Overview

  • zkMe is an end-to-end zk proof and decentralized identity oracle
  • Alchemy Pay will start accepting zkMe’s privacy-preserving KYC, AML, and compliance related onboarding services
  • Through this collaboration, the two companies prove it’s possible to merge the blockchain ethos of privacy and decentralization with incoming regulation

Despite the maturity of the internet and the awareness of privacy concerns, existing KYC solutions often impose archaic and risky procedures on users – a solution that often exposes the user’s information to employees and companies (such as easily accessible pictures of passports), while users have no control over how their data is shared with third-parties. The repetitive verification required across different platforms only exacerbates data exposure risks.

With zkMe providing an identity oracle, which treats each identity as a set of anonymized data points, all identity-based queries (from personal info such as KYC, to on and offline credentials such as medical licenses and social media prowess) can be packaged in a single oracle, privately.

Traditional KYC methods often create friction during onboarding, sacrifice user privacy, and impose security risks by storing personal data on centralized servers. As a leading payments gateway bridging fiat and crypto economies globally, Alchemy Pay is teaming up with zkMe to integrate cutting-edge zero-knowledge proof (ZKP) technology into its onboarding process. This collaboration will provide enhanced privacy, security and convenience for Alchemy Pay users worldwide.

How zkMe’s zkKYC innovates identity verification

zkMe’s zkKYC solution allows users to prove they meet verification criteria without exposing any personal information. Advanced cryptography converts identity data into anonymized proofs of the credential, which are then validated against predefined requirements. The KYC process then only reveals that the users meet the criteria, such as “is this user over 18,” and “which country is this user a citizen of,” without risking crucial information such as the picture of the passport, or the passport number, all while being compliant in most key jurisdictions.

The process ensures:

  • User privacy is safeguarded through end-to-end encryption and selective disclosure of information. No personal data is ever stored on centralized servers.
  • Security is bolstered by decentralizing computation and using threshold encryption across multiple parties. No single entity can access user data.
  • Regulatory compliance is maintained by enabling identity recovery if required by authorities.
  • Convenience is improved by enabling instant verifications that can be reused across services that deploy zkMe’s identity oracle. No more repetitive KYC processes.

By adopting zkKYC, Alchemy Pay reaffirms its commitment to user security and privacy. This integration paves the way for a more streamlined, trusted and regulatory-compliant onboarding experience.

Looking ahead, zkKYC opens up new possibilities for Alchemy Pay to expand its services while upholding privacy values. Potential use cases include permissioned DeFi, undercollateralized loans, loyalty programs, and more. By leveraging advanced cryptography, Alchemy Pay can cater to emerging Web3 markets while giving users control over their personal data. This collaboration with zkMe represents a monumental step towards the future of self-sovereign identity.

About zkMe

zkMe builds zk Identity Oracles for truly decentralized & anonymous cross-chain credential verifications.

No personal information is ever processed by anyone but the user themselves. Data leaks & misuse by the service provider are impossible; full interoperability & reusability result in a superior ID solution. zkMe’s is the only FATF compliant KYC provider to be fully decentralized, offering a full suite of products from anti-bit/anti-sybil, to KYC and more.

Apraemio: A Gold-Backed Cryptocurrency Project Gains Validation as HSBC Enters the Gold Tokenization Space 6514

Apraemio, a unique digital asset backed by gold, today announced that its exchange listing will be concluded by 2024, and the gold redemption programme will start by 2025.

“We are thrilled to see HSBC enter the gold tokenization space, as this further validates our belief that gold-backed cryptocurrencies are the future of asset-backed tokens,” said Dr. Zoltán Varga, CEO of Apraemio. “Our project is built on a strong foundation of trust and transparency, and we are proud to be at the forefront of this emerging industry.”

Apraemio is a gold-backed cryptocurrency project supported by its mother company, which owns 65 sq km of land in Mali, Africa. The conglomerate company, GGS, holds exclusive rights to mine one of the largest gold reserves in Mali, and it is committed to using blockchain technology to provide investors with a secure and transparent way to invest in gold.

“We are committed to providing investors with a reliable store of value in a world of volatile cryptocurrencies; that is pretty much what we have been doing in the last 15 years,” said Dr Varga, the CEO of one of the most renowned investment gold companies – called Arteus Capital – in the Central European region, which has been active in the market for over a decade.

The Apraemio project is currently in the pre-sale phase, and the company plans to list its tokens on major cryptocurrency exchanges in 2024. The project also includes launching a gold redemption programme and opening a small-scale mine on its roadmap for the following year.

“We are excited to share this news with the world and look forward to bringing Apraemio to market,” said Dr. Zoltan Varga. “We believe that our project has the potential to revolutionize both the gold and cryptocurrency market and provide everyone with a new and inclusive way to invest in this precious metal.”

About Apraemio

Apraemio is a gold-backed cryptocurrency project combining the best of both worlds – the heritage, stability and popularity of gold and blockchain technology’s innovation and financial freedom. The company holds exclusive rights to mine one of the largest gold reserves in Mali, Africa, and is committed to using blockchain technology to provide investors with a secure and transparent way to invest in gold.

Tipitek is expanding the capabilities for its clients 6492

Tipitek

Tipitek is a structural division of Cryptoves LLP with its own high-speed, reliable, and modern cryptocurrency platform. Since its launch, the entire Tipitek ecosystem has been continuously evolving, providing a reliable platform for working in the crypto industry. While there were previous announcements about expanding the range of tools, not all details were previously disclosed. As of today, Tipitek offers the opportunity to work not only with cryptocurrencies but also with tokenized stocks, indices, precious metals, commodities, and energy assets.

About Tipitek: Analyzing Tipitek’s operations, it can confidently be said that its creators have successfully combined the best elements: innovation, style, comfort, security, multifunctionality, stability, high speed, and more. Both beginners and experienced traders enjoy working here, as each sees benefits for themselves.

Tipitek offers several types of trading accounts, and the use of margin trading conditions allows for trading on growth.

Expansion of the Instrument List: This management decision now allows Tipitek clients to work with cryptocurrencies and other tokenized assets, stocks, indices, precious metals, commodities, and energy assets on a single platform. This significantly simplifies the life of an active trader and saves time. And we know that time plays a very important role in the lives of our clients.

So, Tipitek users can now trade:

  • Cryptocurrency pairs (crypto-USDT, crypto-crypto): Over 30 directions for trading bitcoins, stablecoins, altcoins. Flexible leverage.
  • Tokenized stocks: Over 150 positions of well-known global companies. Short-term and long-term strategies are available.
  • Tokenized indices: Availability of the most popular global trends. Compliance with underlying assets. Market turnover of over 1 trillion dollars per day.
  • Tokenized precious metals: Agreed, the inclusion of tokenized metals into operation is an excellent solution, as investments in precious metals are a classic for every investor.
  • Tokenized commodities: An impressive list of available tokenized goods (corn, wheat, beans, etc.). Compliance with all Chicago Mercantile Exchange quotations.
  • Tokenized energy assets: A rather bold decision, as tokenized energy assets are mainly dealt with by bold and experienced traders who know how to take risks. However, at the same time, it is an excellent way to earn effectively.

Thus, the development of Tipitek’s trading division is moving in the right direction. And against the backdrop of similar projects that started their activities around the same time as Tipitek, competitive advantages are clearly visible. Expanding the list of instruments is an excellent solution for further advancement, which will help attract new users and increase the opportunities for each active client, offering 6 types of trading accounts.

Tipitek represents a revolutionary milestone in the cryptocurrency industry. The company seamlessly integrates all the essential elements required for convenient and profitable cryptocurrency trading.

Discover the unparalleled advantages, features, and account options that Tipitek offers. This is the first thing that catches the attention of prospective users of any platform. They are interested in the minimum investment amount, fees, availability of leverage, savings accounts, or other perks.

Cryptoves LLP has chosen not to limit Tipitek to one or two types of trading accounts and has provided its clients with a total of six unique account types, each offering new opportunities for users.

What do they offer you?

All six types of client accounts at Tipitek differ in the deposit amount and the set of useful services. The company explains the variety of account types by noting that platform users work not only with cryptocurrencies but also with other digital assets, making it an excellent decision.

MINI Account: A trading account with a minimum deposit of $500 and a minimum investment period of 180 days. Clients get the opportunity to use leverage up to 1:5, receive daily email newsletters, request consultations with the company analyst, and access educational materials.

EASY START Account: A trading account with a minimum deposit of $5,000 and a minimum investment period of 180 days. Clients can use leverage up to 1:5, receive weekly email newsletters, weekly consultations with an analyst, one trading signal per week, and, upon request, get a personal manager and educational materials.

START+ Account: A trading account with a minimum deposit of $25,000 and an investment period starting from 180 days. It offers leverage up to 1:5, daily email newsletters with transaction history analysis, weekly consultations with an analyst, two trading signals per week, two risk-free trades, one built-in robot, and 1.5% interest on savings accounts. A personal manager and educational materials are available upon request.

PRO Account: A trading account with a minimum deposit of $100,000 and a minimum investment period of 90 days. Clients can work with leverage up to 1:10, receive weekly email newsletters, have four consultations per month with the company analyst, full support from a personal manager, up to five trading signals per week, and two built-in trading robots. Educational materials are available upon request, and savings accounts earn 2% interest.

PRO+ Account: Another trading account with a minimum deposit of $500,000 and a minimum investment period of 90 days. It offers leverage up to 1:10, six consultations per month with the company analyst, full support from a personal manager, up to ten trading signals per week, four risk-free trades, and two built-in trading bots. Educational materials can be requested. This account type includes a 2% interest rate on savings accounts.

EXTRA Account: A trading account with a minimum deposit of $1,000,000 and a minimum investment period of 90 days. Clients have unlimited possibilities, including leverage up to 1:20, weekly email newsletters, full support from the company analyst and a personal manager, an unlimited number of trading signals, access to automated trading, and six risk-free trades. Individual educational materials are available upon request, and savings accounts earn 4% interest.

What do they have in common?

All six trading accounts share the absence of commissions from Tipitek’s side and are denominated in cryptocurrency (BTC, USDT). When your deposit reaches the level corresponding to another account type, the opportunity to enjoy the benefits of that higher level opens up.

Tipitek goes beyond simple cryptocurrency exchange; it is the perfect comprehensive solution for traders, investors, and partners. Cryptoves LLP openly declares the advantages of Tipitek, attracting an increasing number of active clients. The new division is already quite popular among traders due to its multifunctionality and modernity.

Briefly about Tipitek: It is a structural division of Cryptoves LLP, whose activities began in 2017, initially specializing in cloud cryptocurrency mining. The company is legally registered in Singapore. The company’s leadership and team work closely together, resulting in rapid development and the creation of the Tipitek trading division with its own platform. Is Tipitek currently at the peak of its development? It’s challenging to say, as Cryptoves LLP has not stopped evolving since its inception.

What makes Tipitek notable? Tipitek offers advanced charts and several types of orders to active platform users. Cryptoves LLP’s management and team emphasize that Tipitek is characterized by:

High Speed and Stability: Users frequently note that transactions can be executed in microseconds, saving them time.

Security: Cryptoves LLP applies only verified and modern tools to ensure customer security, emphasizing that security and customer trust are always their top priorities.

Ability to Implement Trading Strategies: Developers have created a user-friendly interface, allowing both beginners and experienced traders and investors to implement trading strategies. Tipitek also provides a detailed order book overview and a choice of trading pairs.

Mobility: Cryptoves LLP acknowledges the need for traders to work from anywhere in the world at any time. Tipitek Trade is available for all mobile devices.

As we can see, Cryptoves LLP boldly emphasizes the advantages of its new product, as the company has taken into account the most critical aspects: price and time priority, simultaneous use of multiple order types, a dynamic maker-taker fee schedule based on trading volume.

Cryptocurrency platform Tipitek introduces an affiliate program as another way to earn

People interested in digital assets are likely familiar with the functionality, security, reliability, and modernity of Tipitek. It’s worth noting that Cryptoves LLP is rapidly progressing toward its goal, attracting more and more clients, including company founders and professional traders. The news of the affiliate program being introduced is already widely spreading on the Internet, so Tipitek can expect a new wave of interest in the platform.

What sparks interest in Tipitek? Primarily, clients can work not only with cryptocurrencies but also with other digital assets: tokenized stocks, indices, precious metals, commodities, and energy assets. This simplifies the work of traders, saving them time as there is no need to use multiple platforms simultaneously.

Despite the relatively recent emergence of the new division, it is safe to say that Tipitek is already a reliable, stable, and secure means of achieving the goals of traders and investors. Working with Tipitek is genuinely simple and comfortable.

Investors and traders can not only buy and trade digital assets but also store them. The Tipitek security system is at the highest level. Since the launch of Tipitek, Cryptoves LLP’s leadership has repeatedly stated in interviews that the company does not plan to stop here and will continue to develop and improve Tipitek. Based on the events happening in the company, it’s hard to argue with that. Tipitek is ahead in development compared to its peers and even many “veterans.”

How to earn with Tipitek? For Tipitek clients, there are classic ways to earn:

Profit from Trading: The trading platform’s uniqueness is characterized by highly favorable trading conditions, a wide variety of the most liquid financial instruments, the use of trading signals, and trading bots. Analytical and educational materials are also available to Tipitek clients.

Passive Income: This is a savings investment account service with an interest rate significantly exceeding that of banks. Interest payments can be made weekly. Depending on the chosen account type, Tipitek clients can earn up to 48% annually.

What does launching the Tipitek affiliate program give clients? It expands earning opportunities for Tipitek clients. The Tipitek affiliate program is a three-tier referral program that allows you to earn 3-7% of each deposit made by your referrals. To do this, you only need to register and obtain a referral link, which can be posted on social networks, thematic forums, etc.

The affiliate program can also be combined with passive income and trading, significantly increasing your earnings. Thus, joining the affiliate program on the platform is another additional opportunity to earn with Tipitek.

Jurat Launches Layer-1 Mined by Attorneys 6550

A group of attorneys and blockchain engineers are building a new Bitcoin fork blockchain using an emerging legal enforcement protocol that bridges the blockchain to state and federal courts. Called Jurat, the protocol enables capabilities like freezing disputed coins or recovering stolen coins after a hack, all under the auspices of the justice system. The native coin of the new fork is called $JTC.

The primary objectives for the new blockchain are to ensure robust consumer protection for cryptocurrency users and provide on-chain enforcement for legal rights afforded in commercial transactions, property transfers, and the banking system.

The $JTC token is due to be listed on exchanges in the near future. At this time, $JTC mining is open for licensed attorneys in all jurisdictions and may be made available to legacy Bitcoin miners in the future.

Attorneys Line Up To Participate

To start the process for becoming a $JTC miner, attorneys should complete the mining information request form, available on Jurat’s website.

$JTC miners receive $JTC tokens as compensation for supporting the network and helping court rulings to execute on-chain. Mining with Jurat also offers attorneys the chance to become better acquainted with the technology underlying blockchain transactions and participate in a more legally compliant Web3.

Mining by Non-Attorneys

Mining applications for Jurat are currently open to licensed attorneys only. Jurat may expand to include legacy Bitcoin miners in the future.

How to obtain $JTC

$JTC forked at Bitcoin block height 717808, which occurred on January 8, 2022. All addresses that contained $BTC as of that block received $JTC at a 1:1 ratio to their $BTC and can claim the coins using the Jurat Wallet, which is available for Android (Play Store), IOS (App Store), Windows (Jurat.io), and Mac (Mac App Store).

Currently, $JTC cannot be bought on exchanges but will be listed soon. l

Why Does Blockchain Need Jurat?

Jurat was founded by Mike Kanovitz, a partner at Loevy & Loevy in Chicago, USA, who works in Web3 and traditional civil litigation. He conceived of Jurat as a means to provide consumer protection in the crypto space after seeing many clients victimized by fraud and theft.

“Witnessing people lose their hard-earned savings to hackers and phishing scams only to be left with no legal recourse inspired me to create Jurat. “said Mike Kanovitz, Jurat CEO and co-founder.

After creating the protocol and proving that legal rights could be enforced on-chain without sacrificing the benefits of decentralization, Kanovitz recognized that the technology could help make blockchains safer and more usable for mainstream commercial transactions.

“Blockchain technology has the potential to benefit consumers and businesses in countless ways, but the absence of an effective layer for enforcing legal rights prevents it from achieving mainstream adoption,” he said.

The $JTC Bitcoin fork uses Jurat to offer the unique ability to recover digital assets and freeze accounts associated with illicit activities. The protocol can provide legal recourse for users without involving intermediaries or asset custodians while maintaining the full decentralization of the network. There are four steps to the process:

  1. A $JTC user who needs legal recourse because of on-chain crime, a mistaken transaction, or lost private keys can create a Jurat request ID through the Jurat UI. The Jurat ID is a string of characters that specifies the transaction that the claimant wants the court to order. For example, a transaction to send coins from a scammer’s wallet back to the true owner. Armed with the ID, the user can bring the matter to court.
  2. After filing a case, the user provides the ID to the court. If the judge agrees with the lawsuit, they signify this to Jurat blockchain nodes by including the ID in their written opinion and placing it on the court’s public docket.
  3. Once on the public docket, specialized nodes can access the court’s opinion and recognize the Jurat ID. The code informs the nodes that the judge has ruled and what transaction the judge has ordered.
  4. Each miner then verifies the court order, like verifying a private key signature. The process is automatic and does not require any intermediaries.

$JTC has already been used live in court. Recently, a US federal judge considered the cryptocurrency accounts of several sanctioned individuals, including a wallet belonging to North Korean state-sponsored hackers called the Lazarus Group. The court ordered the hackers’ accounts frozen, and the Jurat nodes executed the court orders automatically and seamlessly, preventing the hackers from spending the $JTC in the sanctioned accounts.

Building Legal3 With Jurat

The success of Jurat technology in the case brought against the Lazarus group, and others is an early step in Jurat’s broader goal of introducing a legal base layer for every transaction in Web3.

Jurat will continue to add new attorneys to its mining operation as the $JTC launch date draws closer and encourages all attorneys who have a passion for justice on the blockchain to apply.