Building With Logion To Protect All Digital Asset Holders
While being considered a trillion dollars opportunity, digital ownership-based transactions still raise a LOT of risks for authors, owners, and buyers.
IP infringement, identity theft, plagiarism, counterfeiting, loss of keys most of these incidents are due to the lack of digital ownership protection.
A major marketplace such as OpenSea recently admitted that over 80% of the items created with their minting tool were plagiarized works, fake collections, and spam. NFT value can thus be jeopardized even before a transaction.
The picture is no better after transaction. Just take Chainalysis’ estimate of more than 140B of bitcoins — just bitcoin alone — locked in lost wallets. Or think about your NFT underlying art which can suddenly disappear by being stored on centralized storage. This is a huge point of failure. Even though NFT’s existence is unquestionably secure as it’s created on a blockchain, would you want a certificate of property linked to no property at all?
That situation is not sustainable over the long term.
Without safe digital ownership, blockchain technology will struggle to deliver its full potential to people.
logion’s team works hard to solve that situation by providing the public blockchain that genuinely protects all digital assets and related transactions being operated by a decentralized network of legal officers.
All projects built with the logion infrastructure protect their digital asset holders by providing them:
- Token creation with underlying asset existence certification and escrow
- Zero-knowledge proof “Legal Officer Case”: A Legal Officer case is an innovative technology developed by the logion’s team. It’s a blockchain folder, a unified source, available on the logion blockchain, of digital asset existence, identities, rights, and ownership proofs. All underlying documents are encrypted and escrowed with strict confidentiality access rules.
- Multisig service (to avoid any unwanted asset transfer as a high-value asset transfer requires Legal Officer signature)
- Social recovery service (to answer to password loss situation)
We are delighted this legal officer-based asset protection has been awarded earlier this year an official grant from the Web3 foundation — the powerhouse of the decentralized web helping projects considered as providing the highest impact on the Web 3.0 ecosystem over the long term.
By all projects we mean,
- NFT marketplaces
- Metaverses
- Token based projects
- Wallet providers
- DeFi dApps
- Real Estate (physical or virtual)
- and so on so forth….
All the digital asset holders are protected because everything that is processed by the logion infrastructure is legally existing and secured over time by design.
And by everything, we mean everything:
- Token and underlying assets (digital, monetary, physical)
- NFT underlying assets (digital and physical)
- Data / metadata which are usually and unfortunately stored off-chain: those important pieces of information can now be also recorded on-chain on the logion blockchain infrastructure.
- Digital Files (document, video, music, art, photo, etc.)
- E-signed contracts
- Proof of existence
- Proof of identity (for instance automated through standard-compliant KYC/AML external services)
We decided to be part of the Polkadot Community because Polkadot innovative technology is built on two important foundations needed by the core of the logion mission: security and interoperability. To this end, the logion infrastructure aims to be a Parachain (EO22) of the Polkadot blockchain ecosystem.
- While public data and document HASH are stored on the logion blockchain node network, all confidential content and digital files are backed up on the logion private and encrypted IPFS based network under protective access rules.
- We also have secured Web APIs for projects outside of the polkadot ecosystem.
- And the logion token to finance logion network services and operations.
So everything that is processed by the logion infrastructure is protected by design?
Yes! That protection comes from an institutional but independent legal officers network that operates the logion infrastructure in a decentralized way. Eventually, all operations and processes executed on the logion blockchain infrastructure can be, especially if something goes wrong, certified by an identified Legal Officer committed to helping when it’s needed, you can speak with. Overtime.
Knowing that, do you really think, a fraud will use logion services? You have full traceability and a clear chain of responsibility that protects every party to a transaction.
This is why logion is the blockchain infrastructure of safe digital ownership, so that people can finally protect the value they create and exchange.
Want to learn more about logion? We’d love to hear from you.
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