- Decentralized startup Instruxi has launched a new Mesh ID solution.
- The protocol is linked to Chainlink to strengthen the Mesh ID connection.
Instruxi, an innovative decentralized data management platform, has unveiled the Mesh ID as its latest Web3 solution. This breakthrough solution streamlines access to tokenized Real-World Assets (RWAs) for more than 22 million US residents, ushering in a new era of efficiency and privacy.
Instruxi collaborates with Chainlink, CLEAR and Space and Time
As shown in a press releaseInstruxi launched the new solution in collaboration with top industry leaders including Chainlink, CLEAR and Space and Time. The Instruxi Mesh ID serves as the inaugural module of Instruxi’s RWA platform.
This solution uses CLEAR’s API to equip users with a tier-one identity verification service that streamlines the know-your-customer (KYC) process. This is done without compromising the user’s privacy or security on the blockchain.
CLEAR is a well-known identity verification platform serving over 25 million users. Instruxi’s partnership with CLEAR enables rapid pre-approval, reduces KYC duration and improves user convenience and security. This makes it easier for US customers to access on-chain financial products in accordance with local regulations.
In addition, Chainlink, the industry-standard decentralized computing platform, will also play a crucial role. It will ensure that the Instruxi Mesh ID can be effortlessly integrated with enterprise systems. The integration with Chainlink helps ensure secure interactions, both onchain and offchain.
The Instruxi Mesh ID uses Chainlink features to access real-world data via APIs and Chainlink Automation for scalable, decentralized and cost-efficient operations. CNF reported that Chainlink is leading the $867 trillion market opportunity for asset tokenization. The platform has enabled more than $16 trillion in transaction value through a comprehensive suite of Oracle services.
In addition, Instruxi Mesh ID uses Space and Time’s zero-knowledge database, a decentralized data warehouse for blockchain applications. The collaboration allows users to prove aspects of their data and identity without revealing sensitive information up the chain.
“We are pleased to announce the closed beta of the Instruxi Mesh ID platform, a collaboration with Chainlink, CLEAR and Space and Time,” said Austin Przybysz, co-founder and Solutions Architect at Instruxi, adding: “This use of KYC and identity verification with Instruxi Data Mesh are key to our innovative universal policy enforcement capabilities.”
Unlocking the future of asset tokenization with its new solution
With the launch of the Mesh ID protocol, Instruxi aims to pioneer the next generation of asset tokenization. After launch, Instruxi will offer tokenized real estate to its limited beta users. As the platform progresses towards full release, Instruxi plans to expand into other asset classes.
RWAs are blockchain-based tokens that represent physical or traditional financial assets such as cash, securities, commodities and real estate. Tokenized assets offer blockchain users new capabilities such as fractionalization, programmability, better liquidity, transparency and risk management.
The sector is becoming increasingly relevant and that is happening projected to reach $10 trillion by 2030.
