LTO partners with DREP to enable DEFi ecosystems between EU and Asia through decentralized identities

Announcement • Published on: Jan 29, 2021 • Last updated: Jan 29, 2021

LTO Network is to build a decentralized identities platform enhancing user privacy and integrating interoperable business identification related products with GDPR compliance

January 29, 2021— We are thrilled to announce our partnership with DREP, a blockchain connector and toolkit featuring gamification tools. The project supports one-click deployment of decentralized applications on multiple public chains.

Through the partnership, DREP will cooperate with LTO Network to build a GDPR compliant decentralized identities platform. The new platform will be connected with DREP ID and DREP Reputation Protocol to work together utilizing each other’s strength to expand the reach and possibilities not just in tech but also in the general business developments.

DREP, which recently announced a Partnership with Landream, a leading Australian property developer with a project pipeline of over $3 billion, will be using DREP’s DeFi application to support their real Estate Acquisition in Australia. LTO Network, one of the most used blockchain in the world, will create a dedicated decentralized identities platform that is GDPR compliant optimizing the KYC/AML and verification processes for various businesses and entities. The platform will leverage zero-knowledge proof functionality to verify that party A can learn something specific about party B without revealing all of party B’s underlying data, limiting what is exposed while maintaining the entirety of on-chain information.

Our partnership with DREP will add extra forces to our technical side as they are experienced with the decentralized identity products. As information is without doubt one of the most dear sources in our time perk, privateness of our consumer’s delicate information needs to be our high precedence. Nonetheless DREP has a broad connection and has already established its name in Asia, I believe by partnering up with DREP we can create more business opportunities and possibilities for each other by becoming the bridge between Europe and Asia.

Rick Schmitz - LTO Network CEO

I believe our partnership with LTO Network will bring out the maximum potential of decentralized identities. DREP has gained 3-year experience of developing DID commercial applications for enterprises in Asia and Australia. With LTO’s rich network and knowledge in aspects such as private data sharing and linked data, we will be able to achieve impressive breakthroughs. I am thrilled at the prospect of seeing our partnership bringing the benefits of DEFi to more people across the globe.

Xiaolong Xu - Drep CEO

About LTO Network

The LTO Network team is on a mission to create and maintain a fully decentralized and highly efficient blockchain infrastructure, directly applicable and aimed at creating value for organizations. The main focus of LTO Network in 2021 will lean towards decentralized Identity and Self-Sovereign Identity. This will be the foundation to create new products & services such as one-click KYC for businesses and Cross-chain associations e.g. while retaining the GDPR compliance aspect. For more information, visit www.ltonetwork.com

About DREP Foundation DREP is committed to building “connectors'' and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID and DREP SDK, DApp R&D teams are able to release multi-public-chain asset versions, built-in wallets and asset trading platforms with one-click. For more information, visit https://www.drep.org