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- Decentralized startup Instruxi has launched a new Mesh ID solution.
- The protocol has linked up with Chainlink to boost the Mesh ID connection.
Instruxi, an innovative decentralized data management platform, has unveiled the Mesh ID as its latest Web3 solution. This pioneering solution streamlines access to tokenized Real-World Assets (RWAs) for over 22 million US residents, ushering in a new era of efficiency and privacy.
Instruxi Partners with Chainlink, CLEAR, and Space and Time
As revealed in a press release, Instruxi launched the new solution in partnership 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 leverages CLEAR’s API to equip users with a tier-one identity verification service that streamlines the know-your-customer (KYC) process. It does so without compromising user privacy or security on the blockchain.
CLEAR is a well-known identity verification platform serving over 25 million users. Instruxi’s collaboration with CLEAR will allow rapid pre-approval, reduce KYC durations, and enhance user convenience and security. This makes it easier for US customers to access onchain financial products in compliance with local regulations.
Additionally, Chainlink, the industry-standard decentralized computing platform will also play a crucial role. It will help enable the Instruxi Mesh ID to integrate effortlessly with enterprise systems. The integration with Chainlink helps to ensure secure interactions both onchain and offchain.
The Instruxi Mesh ID uses Chainlink Functions to access real-world data via APIs and Chainlink Automation for scalable, decentralized, and cost-efficient operations. CNF reported that Chainlink is at the forefront of asset tokenization’s $867 trillion market opportunity. The platform has enabled over $16 trillion in transaction value through a comprehensive suite of Oracle services.
Furthermore, Instruxi Mesh ID utilizes the zero-knowledge database from Space and Time, a decentralized data warehouse for blockchain applications. The collaboration allows users to prove aspects of their data and identity without revealing sensitive information onchain.
“We are thrilled to announce the closed beta release of the Instruxi Mesh ID platform, a collaborative effort with Chainlink, CLEAR, and Space and Time,” Austin Przybysz, Co-Founder and Solutions Architect at Instruxi said, adding that “This use of KYC and identity verification with Instruxi Data Mesh, is key to our innovative universal policy enforcement capability.”
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. Following the launch, Instruxi will provide tokenized real estate to its limited beta users. As the platform progresses toward full release, Instruxi plans to extend into other asset classes.
RWAs are blockchain-based tokens representing physical or traditional financial assets like cash, securities, commodities, and real estate. Tokenized assets offer blockchain users new opportunities such as fractionalization, programmability, better liquidity, transparency, and risk management.
The industry continues to gain increased relevance and is projected to reach $10 trillion by 2030.