Business Standard

While Alchemy Chain's unique consensus mechanism substantially diminishes trust costs and fortifies security, ensuring a stable and dependable on-chain ecosystem requires further systematic regulation.

To achieve this, we must establish stringent protocols and implement ongoing oversight. By doing so, we can preemptively thwart malicious actors and fraudulent behaviors, thereby upholding the integrity and reliability of our blockchain operations.

Alchemy Chain introduces Know Your Business (KYB) and Know Your Customer (KYC) protocols as integral components of our strategy.

KYB

KYB protocols involve a thorough vetting process for businesses and entities that wish to participate in the Alchemy Chain ecosystem. This includes assessing their operational models, financial health, and compliance with existing regulations. By integrating KYB, we can ensure that only legitimate and trustworthy businesses are allowed to conduct transactions on our platform, further fortifying the security of our network.

KYC

KYC, on the other hand, is a critical tool for verifying the identity of individual users. It involves collecting and verifying personal information to prevent fraudulent activities and to comply with anti-money laundering regulations. Implementing KYC protocols helps to create a transparent and accountable user base, which is essential for maintaining the trustworthiness of our blockchain ecosystem.