Tech company, CheckDot has announced the first-ever decentralized trust protocol – CheckDot – that allows crypto enthusiasts and firms to ascertain the legitimacy, transparency, and trustworthiness of any crypto project or company on the blockchain, anonymously. The projects include smart contracts, NFTs, codes, and others on the blockchain.
With this innovation, CheckDot becomes the first company on the Binance Smart Chain to create an “opinions platform” that helps to unearth hidden information about companies and different digital projects through the collection of information from different people on the blockchain. Hence, the new technology will help increase the trusts their users/clients have in them.
The objective of the company is to address the growing trust deficit that presently exists in the blockchain world by helping companies and project owners maintain or regain the trust of their users through an anonymous validation system.
As the global demand for digital assets keeps rising each day, the digital asset space has continued to be filled with various forms of projects and firms springing up with unverifiable claims. Determining those that are genuine about their provisions of trusted, tech-based solutions to users on the blockchain, has increasingly become a herculean task given the manner in which they present their operations. Some of these so-called brands have operated fraudulently with misleading information and data. It has led to a reduction in the level of trust and confidence for blockchain activities, among digital asset users, across the board.
CheckDot has taken it upon itself to design the new protocol that eradicates the trust deficit on the blockchain by providing digital asset enthusiasts with technology to help ‘sanitize’ the value chain via anonymous verifications of various projects and brands, including smart contracts, codes, forms, firms, special blockchain services, Non-Fungible Tokens (NFTs), and others. It has lined up ten special services for the project and the first of them all – the Code Audit – will be accessible by users by the end of 2021. CheckDot users will be able to request for advice or carry out audits through the assistance of one or two layers of advisors in the community.
An interesting side of the project for every user is that they can earn simply by performing or engaging in any of these, on the platform: Smart Contract Audits, KYC Audits, NFT Trust Indexes, Rare Objects, Anonymous Forms, E-Commerce Pre-Verification Opinions, Businesses Verification, E-Document Verification, and Services Trust Analysis. To participate, a user is expected to have some specified amount of the platform’s unique digital coin – Check Dot Token. This token is used to gain access to and initiate the validation process, after which a user is rewarded with more CDTs. The presale of the CheckDot CDT starts November 6 at 19:00 (UTC).
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Company’s Plans
By the first quarter of 2022, the company will be moving to the second phase of its service rendering when community members would be able to validate special services and firms, then the results listed on its platform for reviews by users. Crypto projects that have been evaluated by the community using the CheckDot guidelines, will be listed on the platform by professionals who understand how to evaluate a business.
CheckDot also plans to extend its token offering to other exchanges other than Pancakeswap, by the last quarter of 2023. The company is going to be introducing its Decentralized Autonomous Organization (DAO) Governance which will ensure that all community members can contribute to discussions centered around the development and implementations of future projects, by 2022.
About CheckDot
CheckDot is a tech-based company that is focused on helping digital assets users build trust in crypto projects and companies that they have subscribed to, verify whether they are transparent, legit, and trustworthy.
The CheckDot team is made up of qualified and highly professional tech experts in crypto and digital assets, with Jeremy Guyet as the Chief Executive Officer.
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