Two blockchain advocates say NFTs and Web3 are plagued by scams and money laundering, which blocks mainstream adoption. They argue the ecosystem needs better identity and compliance tools. Quarata's technology embeds trust layers into Web3 apps to make them safer.
Everyone really talks about, hey, you know what, NFTs, monkey pictures, JPEG, scandal, scams, money laundering, all these negative connotations and that it's not here to last. But what you guys are doing is something that is changing the world in the most impactful way that I could think of. I'm a strong believer myself in NFT. I'm a strong believer in the metaverse.
You know, how basically help this ecosystem is we're trying to make it safer. So what we do at Quarata is that we are creating a technology that essentially allows bringing some sort of identity compliance and reputations to Web3 applications. So we are strong believers in blockchain. We are strong believers in Web3, but we also understand that it's new. So it's at a stage where today it's proving to become something. But in order to reach really the next stage, you are going to need some sort of identity, some sort of reputation, some sort of trustable compliance check that every application can use.
