Web3 protocol honest announced a new partnership with Blockchain Lawyers Group (BLG) to enhance its web3 legal expertise and strengthen its Proof of Democracy consensus algorithm.
Wakweli partners with BLG
the Blockchain Advocate Group It is a global network of legal professionals with significant experience in blockchain and crypto-related matters. Wakweli is a layer 1 protocol based on a new, decentralized consensus algorithm that issues Certificates of Trust for Non-Fungible Tokens (NFTs) and RWAs to secure the web3 ecosystem.
Wakweli’s Proof of Democracy Algorithm aims to certify the authenticity of any tokenized asset, and all members participating in the protocol will receive strong incentives to act fairly and develop a standard of trust in the tokenized asset ecosystem. Once the certificate is issued, the newly approved asset will display a hash (Wakweli Tick) which will be a symbol of trust and value among the community.
The partnership between Wakweli and BLG will enable deeper improvements to the protocol and provide easy access to qualified legal advice for companies operating in the decentralized ecosystem. As part of the collaboration, members of the group will participate in validating the first certificates and strengthening the entire process to support the integrity of the market for the tokenized asset.
Wakweli raised more than $1.1 million from investors during its first funding round in 2023 and debuted it on its website, white paper, and alpha. The initiative encourages companies to build on their layers and apply for token grants from the chain’s treasury. A private foundation will be set up later this year to manage the initiative.
Collaboration with Blockchain Lawyers Group will bring greater value to the project and help secure the exponential and emotional web3 ecosystem. This is an important step towards providing competent blockchain legal advice, qualified in crypto-related matters, and bringing to the market a new level of innovation, compliance and ease of use.
Enhancing the legal expertise of Web 3
The collaboration between Wakweli and Blockchain Lawyers Group highlights the importance of legal expertise in the growing blockchain ecosystem. The partnership will enable the companies to operate within a legal framework and ensure that the tokenized assets are validated and secure.
BLG founder and member Miguel Denis Lucas said:
We are excited to partner with an innovative company like Wakweli, which is trying to solve a salient problem in the NFT space. We are confident that our collaboration will bring new levels of innovation and ease of use to the market.
With more regulatory action on the horizon, Blockchain Lawyers Group will provide enhanced legal expertise for Web3, enable deeper protocol improvements, and ensure easy access to legal advice for decentralized projects.
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