Effect Network is set to integrate LTO’s decentralized identities solution to their Effect Force ecosystem when the official version is live, enhancing the privacy of their users and integrating interoperable business identification-related products with GDPR compliance.
April 1st, 2021 - We are thrilled to announce our partnership with Effect Network, the first blockchain-based platform for the Future-of-Work. The Effect Network is a smart contract framework that empowers the development of automation with their enterprise solutions while enabling anyone to earn crypto from anywhere, at any time. Being the first blockchain-based framework for the Future-of-Work, Effect Network is leveraging the two key components of the fourth industrial revolution, Blockchain and Artificial Intelligence, to make its vision of tomorrow a reality.
Through the partnership, LTO Network will cooperate with Effect Network to integrate a GDPR-compliant decentralized identities platform with a dedicated user interface for Effect Network’s WorkForce. The new integration will therefore be directly connected to the Effect Force platform.
What is Effect Force? Effect Force is a decentralized microtasking platform that allows anyone in the world to perform a wide range of tasks and receive fair payment for their work. It provides developers, both blockchain- and AI-focused, and businesses, access to a large workforce of human intelligence that can automate digital processes and help train algorithms to become better through human validation with each task. Currently there are over 10,000 people earning great pay through the platform. When a worker completes a task, they are paid with Effect Network’s tokens.
The integration will allow both users and workers on the Effect Force platform to verify themselves through the DID solution. All identities will be verified through LTO and become interoperable with various public chains and businesses.
Our partnership with Effect Network will add extra forces to our technical side and expand our reach as we add their expertise in blockchain and artificial intelligence to our vault. We believe in decentralization and the way the team behind the Effect Network builds their technology is far ahead of the current system. Over the next decade, blockchain will clearly shape the way we all work together and the Effect Network is clearly the ecosystem this will happen on. With our shared network and the recent announcement of Effect joining the Binance Smart Chain, I believe by partnering up with Effect Network we can create more business opportunities and possibilities for each other by leveraging our strengths.
Rick Schmitz - CEO LTO Network
“I believe our partnership with LTO Network will bring out the maximum potential of our proprietary technology and take our project to even higher highs. Effect Network has over 4 years of direct experience in the development of blockchain and artificial intelligence commercial applications for enterprises over the globe. We have serviced various large clients, where privacy is often one of the bottlenecks. LTO has a broad network and expertise in areas such as private data sharing and linked data and I am more than certain that we will be able to achieve impressive breakthroughs together by tapping into mutual synergies. I am thrilled at the prospect of seeing our partnership bring more adoption to more people across the globe and get us closer to our vision of a fairer world.”
Chris Dawe - CEO Effect Network
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 Effect Network
Effect.AI is The first Blockchain-based framework for the Future-of-Work giving enterprise access to a global, on-demand, 24x7 scalable WorkForce. Effect Network’s main objective is to build a platform that will stimulate automation within digital processes and create opportunities for fair paid work to humans all over the globe. The platform will be more democratic, accessible and easy to use than what is currently available. Combining Human Intelligence, Blockchain and Machine Learning will help lead the fourth industrial revolution and change forever the way we work together. For more information, visit https://effect.network.