AllianceBlock (ALBT) Coin Review : It is Good Or Bad Review

About AllianceBlock (ALBT)

AllianceBlock (ALBT) is creating an ecosystem of stakeholders across the full spectrum of traditional and decentralised finance with a vision to create a fully decentralised and globally compliant capital market. Industry stakeholders and service providers can become a ‘node’ in the Ecosystem and propose their services while being compliant with multi-jurisdictional regulations and also seamlessly plugging into legacy Traffic systems.

AllianceBlock (ALBT) Ecosystem is designed as a multi-faceted platform that enables its members to issue, transfer and own tokenized and/or digitized assets. It is an ‘open’ ecosystem that allows any entity to create assets and applications without the need for approvals from centralized “trust” authorities. It uses human and machine intelligence to harness the ‘wisdom’ of groups in decision-making and governance.

AllianceBlock (ALBT) is creating a harmonious integration with existing legal and regulatory structures. The Protocol ensures complete regulatory oversight, legal recourse via relevant authorities, and dynamic revision of smart contract logic to constantly comply with an evolving regulatory landscape. The Prometheus Protocol is a comprehensive and layered architecture to facilitate cross-border transactions in capital markets in a completely regulated and compliant manner. It provides the framework to digitize all forms of assets in seamless compliance with the regulations in effect

AllianceBlock (ALBT) ensure that in-architecture data management complies with data privacy laws and the quality of data does not deteriorate over time or over distance. To ensure automated validation of transactions and their compliance with applicable regulations. Trusted Legal Entities add/amend transaction governing logic after consensus to ensure consonance with regulation

AllianceBlock (ALBT) Prometheus Protocol leverages the best of ‘code is law’ and ‘Law is by the People’ philosophies. It provides templatized smart contract driven logic to automate transaction validation and to ensure their adherence to regulation. It also provides for upgradeability of this logic to stay aligned to their real-world regulatory counterparts that are amended by legislatures from time to time.

AllianceBlock (ALBT) Storage Key Points

The Future of Investment Banking

Compliant derivative products can quickly and easily be created out of almost any utility token, security token, cryptocurrency, synthetic, crypto portfolio, or DeFi solution. Structured crypto products, including Credit Linked Notes (CLNs), trackers / synthetics, derivatives, discretionary portfolios, static investments, and structured loans can now be created in a compliant manner. All digital assets will be investable, bankable, fungible, and accessible to the entire regulated finance industry.

AllianceBlock Protocol

AllianceBlock Protocol will be comprised of three key layers of communication to facilitate multidirectional data flow in a traceable, accountable, and regulated manner compliant with global, national, and local jurisdictions. ecosystem streamlines issuance, validation and clearance while integrating a progressive regulatory and adaptive compliance framework in order to reduce costs and increase efficiency in global markets.

Cross-Border Regulatory Compliance Layer

Multiple international jurisdictions’ regulations are dynamically written into machine logic within the smart contract. All actions within the network will be pre-authorized and automatically compliant at all times. Regulatory amendments are validated by oracles acting as Proof of Authority nodes.

Data Governance & Privacy Layer

Multiple international jurisdictions’ regulations are dynamically written into machine logic within the smart contract. All actions within the network will be pre-authorized and automatically compliant at all times. Regulatory amendments are validated by oracles acting as Proof of Authority nodes.

Business in the Age of Globalization: Parts, Problems, & Potential

Globalization led to the development of a common set of mutually agreeable rules between countries/jurisdictions looking to leverage faster integration of businesses across geographies and jurisdictions while ensuring traceability and auditability to prevent criminal activities such as terror financing and money laundering.

Regulatory Compliance for Integrity and Trust

Take the case of the metric units of measurement (such as kilogram, metre, and seconds etc) as a parallel. A majority of the countries agreed on a common definition of measurement units so that one metre in Australia would be the same as one metre in Canada

Where Does Current Data Governance Falter?

Today, businesses have administrative offices in one jurisdiction and branches in several others (example: Banks), data localization laws came up short and transnational regulations such as GDPR gained traction. However, such a system still fails (See Figure 3) to provide full autonomy to the users with respect to their data. The Open Banking initiatives seen in the European and certain Southeast Asian jurisdictions which enable users’ financial and other data to be shared with third party developers or other financial institutions, in order to be used to the benefit of these users is a step in the right direction. However, they are limited in scope.

Decentralizing Data Governance

Recent breaches, combined with a growing number of real and alleged misdeeds by several large technology and data companies—including tax evasion, manipulating users, monopolistic behavior and market abuse, cooperation with legally questionable government surveillance, fostering abusive work cultures, and facilitating crimes such as election tampering and human trafficking—have raised high levels of concern.5

Empowering Assets with Tokenization

Securities’ ownership, since its origin, has been pieces of paper that were legally enforceable. The standardized security documents were easy to understand for the courts of law. With regulations in place, it was easy to resolve disputes. Technological advances, and mainly the exponential increase in securities volume, drove the dematerialization of these documents. These now “paperless” book-entry securities are not only exchanged, held but also issued electronically through an accounting entry in the issue account held by the Central Security Depository.

Pain Points Not Yet Addressed

Following the Great Financial Crisis of 2008 which wiped off tens of trillions of dollars from the market within months, the interest in decentralization assumed greater acceptance. However, the notion that globally trusted institutions (such as banks) could be replaced by truly trustless systems, is inherently flawed in its assumption.

Regulatory Authorities Local Jurisdiction in a Global Market

Turf wars aside, the regulatory bodies are finding it increasingly difficult to implement their mandate as the world grows smaller. Take the example of the Bitcoin for example. If I send you a Bitcoin today, it is completely off the records of the regulators. So, what happens in the event of a monetary dispute regarding this bitcoin? The regulatory authorities will be unable to enforce their mandate and judgements simply because bitcoin infrastructure does not fall under the explicit mandate of these regulatory authorities. Similarly, there is no KYC performed on either you or me before we transacted that bitcoin. Even on most centralized exchanges (outside the US), KYC is as rudimentary as asking people to take a selfie while holding a government document. This is not really KYC. That is in direct contravention to FATF7 guidelines on preventing money laundering and terror financing. Also, the island-isation of data makes it near impossible for regulatory authorities to access/source data from other jurisdictions.