Per a recent press release, moonshot tech company, CheckDot, has announced the launch of the very first decentralized anonymous validation project of the same name. This platform will allow institutional investors, crypto enthusiasts, and organizations to ferret out the trustworthiness and legitimacy of any project built on blockchain technology. In addition to this core facet, some of the sub-projects are NFTs, smart contracts, codes, etc.
Sauntering an untrodden route, CheckDot will become the first “opinions project” on the Binance Smart Chain [BSC]. According to the aforementioned source, CheckDot will help to exhume all of the buried information about emerging platforms and companies, albeit through the valuable opinions of people on the blockchain.
Pioneering a paradigm shift, this nascent project attempts to increase the trust users have in these incipient projects.
With countless reports of scam crypto ventures deploying a plethora of strategies like rug pulling, a trust deficit has been created and is growing at an exponential rate in the trillion-dollar crypto market. Realizing the negative implication of this recent trust shortfall to the growing market, CheckDot’s key objective is to help project developers and company owners win back the trust of their clients through its anonymous validation system.
As demand for these digital assets continues to accelerate, according to reports from Google Trends, the space has become filled with thousands of projects, most with unverifiable and unrealistic claims. While all of these contribute to the proliferation of these virtual currencies, the problem, however, is the difficulty in ascertaining and sifting through these platforms for the genuine and trusted ones. The infamous actions of projects like Squid Games, OneCoin, BitConnect, et al, most of which have defrauded unsuspecting investors of millions of dollars have contributed greatly to the reduction of trust and confidence prospective enthusiasts, investors, and firms have in these blockchain-based enterprises.
Seeking to resolve this problem indefinitely, CheckDot, in conformity with the prior mentioned press release, has taken the bold step to eradicate this sticking point by providing all in the crypto space an advanced technology that will aid the thorough sanitization of these blockchain projects through the anonymous validation of brands, blockchain services, firms, smart contracts, codes, non-fungible tokens, amongst others.
Lining up ten special services the first of which is the Code Audit which, according to the development team, will be made accessible to users by the end of this year. Through the guidance of a few layers of advisors in the CheckDot community, users on the network will not only request advice before investing in a project but can also carry out audits.
Like most platforms in the crypto space, CheckDot will also offer users an opportunity to earn each time they engage in certain activities on the platform — KYC Audits, Contract Audits, Anonymous Forms, Business Verifications, E-commerce Pre-verification Opinions, and Service Trust Analysis. However, users are required to own a stipulated number of the platform’s native token, Check Dot Token [CDT].
A utility token, CDT, will enable users to access and kick-start the verification process, after which they will be rewarded with more tokens for carrying out various activities on the platform.
Offering a ton of services, the development team, according to the press release, will, in the first quarter of 2022, move to the second phase where community members will have the privilege of verifying firms and special services, then have the results listed on the platform’s user review section.