Fighting fraud and unlocking new Web3 horizons with Concordium — AMA recap

cointelegraph.com:

"To achieve true mass adoption, you need to reconcile TradFi and DeFi, which I find increasingly difficult, and also be ready for compliance. There were a lot of blockchains around 2017-2018, but I didn't feel that any of them seriously addressed the regulatory challenges. To fill this gap, we're building Concordium," said Lars Seier Christensen in Cointelegraph's recent AMA live session.

Discovering the Power of Concordium: AMA with Lars Seier Christensen https://t.co/JJ22uAUXhB

Concordium is a public, scientifically backed, layer-1 proof-of-stake blockchain with a unique protocol-level ID layer. While early generations of blockchain technologies allowed for user anonymity, which is considered unacceptable by many established businesses and financial firms, Concordium takes a unique approach to user identification.

"We let people choose the identity provider they're comfortable with, next they go through standard ID processes, and finally they can have more privacy than on other blockchains," Lars said. "Pointers can track transactions and activities, but it's always in your control to share that information with other users."

With increasing threats from AI, deepfakes, and fraud in virtual environments, KYC protocols have become even more necessary. "ID is always going to be at the center of regulatory requirements," Lars noted. "So we're building the infrastructure around that core regulatory requirement. We're developing a suite of KYC tools so that people can add KYC to their needs and issue digital certificates that can be used as access control or verifiable credentials. A person can prove where they work or that they have a degree from a particular university."

On the technical front, Concordium's consensus mechanism,