Quadrata Brings Web3 Identity Support to Cerchia’s Direct Risk Transfer™ platform.
Quadrata is pleased to announce a partnership with Cerchia AG to deliver its privacy-preserving digital identity solution to the DRT™ platform. Cerchia’s DRT™ application is designed to provide direct risk transfer between capital markets and protection seekers such as reinsurers, multinational organizations, and enterprises. Cerchia leverages Quadrata’s Web3 Passport to create a compliance-aware environment for the interactions of these platform participants.
“It was important to us that the DRT™ users have a seamless onboarding experience while also being able to provide verifications about their identity for atomic transactions on blockchain”, said Michael Rey, CEO and co-founder of Cerchia. “Quadrata’s solution streamlines the user experience and makes identity attributes available on-chain while protecting sensitive information”.
DRT™ allows participants to select parameters aligned with their risk tolerance and investment goals. Event triggers are based on observable data points such as storm strength or earthquake intensity. Smart contracts algorithmically match the predetermined parameters to payouts on the platform. Identity verifications are also queried natively by smart contracts, enabling automation of the process.
“We are thrilled to support Cerchia’s innovative use case of enabling direct risk transfer between the platform participants. As the users are evaluating which investment risks are worth taking in the context of their portfolios, we are taking the risk of commingling with ‘bad actors’ off the table”, said Lisa Fridman, President of Quadrata.
Through its partnership with Cerchia, Quadrata continues to grow the ecosystem of DApps accessible to Quadrata Passport holders. For more details on the destinations Quadrata Passport unlocks, please visit quadrata.com.
About Cerchia AG:
Founded by two Swiss capital markets veterans with the vision to create a more resilient world by making risks investable. A world where underinsured people and companies have access to insurance protection against climate change risks like floods, storms, or draughts to overcome the USD 2 Trillion protection gap. By providing direct access to the capital markets via the proprietary DRT™ platform, we help to solve the protection gap issue and actively contribute to the UN’s sustainable development goals. www.cerchia.io
About Quadrata:
Quadrata is a passport network bringing the identity and compliance layer to DeFi applications on existing public blockchains such as Ethereum. Smart contract applications are able to leverage Quadrata’s proprietary technology to natively access KYC/AML status, country of residence as well as credit reputation and accredited investor status of Quadrata passport holders. Quadrata is a spin-out from Spring Labs, incubated as part of Spring Labs’ fundamental commitment to developing and promoting blockchain-based technologies.
