Hey there, Scintilla!

Today, let's explore one of the most crucial aspects we had to deal with when bringing RWA to our customers: ensuring compliance over Real World Assets (RWA).

On the Scintilla Network, we use a blend of technologies like Identity, Reputation, DNS, and NFTs to create a strong compliance framework.

This is all needed to answer the regulation requirements, which basically are around ensuring source of funds, ensuring activities, basically know your customer (KYC) and anti-money laundering (AML) requirements.

To achieve this and provide it at a protocol level, we have integrated the following technologies:

• Identity Verification: With Scintilla’s native identity module, users can establish self-sovereign identities registries. This allows a single entity to perform the KYC process once and use it across multiple services, reducing the need for repetitive checks.
• Royalty System: NFT in Scintilla can be set with a royalty fee, which allows to incentivize an ecosystem of entities that bring new assets to the network.
• Reputation System: Our reputation system links user identities with their transaction histories and behaviors. By building a positive reputation, users can enjoy smoother transactions and more trust within the network. It's like having a credit score, but for blockchain! Using Registries and Reputation, we can improve the transparency and trust in the network.
• NFTs and Smart Contracts: Non-Fungible Tokens (NFTs) represent ownership of both digital and physical assets. Smart contracts automate compliance processes by enforcing rules and regulations. This includes KYC checks and transaction approvals based on reputation scores, ensuring that all operations meet regulatory standards.