The post Legal Recourse Is Coming to Blockchain, Says Jurat CEO appeared first on Coinpedia Fintech News
Another day, another hack in Web3.
KyberSwap’s $50 million loss over the most recent Thanksgiving holiday is the latest installment in what seems like a never-ending string of hacks and frauds in the crypto space. Attacks are now so commonplace that industry onlookers have become desensitized while users’ losses mount into billions annually. Even government agencies look powerless, as almost all blockchain crimes go unaddressed.
An emerging Web3 project, Jurat, is poised to transform this landscape by releasing a base layer for legal recourse on blockchains. Similar to what TCP/IP did for computer networking to enable the internet to flourish, the Jurat protocol bridges blockchain networks to official legal systems so that on-chain activity can comply with the law.
Mike Kanovitz, CEO and one of Jurat’s founders, told Coinpedia that “adding the capacity to enforce officia
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