The Proof of Trust & Assurance, the world’s first globally patented smart contract validation platform, has announced the launch of its new ASTRA product, which will provide a security layer on public blockchains to support the growth of decentralized finance (DeFi).
The ASTRA platform will utilize the company’s globally patented protocol to provide a decentralized legal assurance layer for traditional financial institutions and existing members of the DeFi ecosystem wishing to harness the power of decentralized systems more safely. By creating the infrastructure to protect all DeFi participants, ASTRA will allow the industry to meet its full potential, far exceeding the current limitations of centralised financial models and driving it towards its predicted trillion-dollar value.
The ASTRA platform has been designed to integrate with all public blockchains, enabling institutions to transact with trust and confidence on smart contract networks including Etherium, Polkadot, Cardano and more. The Astra platform will be powered by the $ASTR token, developed in association with IBM, which will launch on all major exchanges following a Token Generation Event in July 2021.
The announcement came after the appointment of former EU Trade Commissioner, Phil Hogan, to The Proof of Trust’s advisory board. Hogan brings with him a depth of experience, having been tasked with resolving the trade war with the USA and securing landmark trade deals with Japan and the Southern American Mercosur bloc. He will provide strategic guidance as the company rolls out the new product to governments and institutions globally.
“Decentralised finance is becoming increasingly prominent across the world, but the lack of robust, legal protection has hindered progress within major institutions,” Hogan said. “The Proof of Trust offers the first sustainable and scalable bridge to support the mass adoption of decentralised finance products in the real world. The new Astra platform will be instrumental in this endeavour as it provides a secure legal layer across public blockchains. Companies like The Proof of Trust are the future, and I’m very pleased to be a part of it.”
“Our goal is to stimulate the exponential growth we know the decentralized finance space is capable of by removing the barriers that stand in the way of traditional institutions participating in the ecosystem,” said Sakhib Waseem, Chief Innovation Officer at The Proof of Trust. “We believe that ASTRA is the key to unlocking this growth, and we’re delighted to have Phil’s support as we deploy this solution to the market.”
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