Blockchain becomes mainstream technology with Open Rights Exchange (ORE)

The emergence of cryptocurrencies and DeFi has convinced companies from all sectors to rely on the blockchain. However, the transition from the traditional business model to one that directly implements the blockchain in its services can be complex. ORE (Open Rights Exchange) aims to simplify the process, thus making the technology accessible to the general public.

Problems related to the adoption of the blockchain and the use of its applications

DeFi has revolutionized the financial sector by creating alternatives peer to peer to existing financial services and institutions. Despite its potential, the technology is currently slow, fragmented and difficult to understand. However, ensuring speed of performance and a simple user experience is the key to gaining wide adoption of this blockchain application. Indeed, the transactions that take place within the DeFi operate on decentralized exchanges (DEX) operating in disjoint ecosystems. Their diversity makes the availability of goods difficult.

It is also unrealistic for a company to expect its customers to fully understand the complexities between standard crypto wallets and those with a private or public key. This is’another detail that slows down the mass adoption and accessibility of every DeFi protocol and tool. Furthermore, mastering a portfolio is not enough to access the entire ecosystem. Indeed, DeFi’s liquidity is fragmented, which requires the use of gateways to access multiple specific assets of their blockchain. Therefore, companies need to simplify user access to the entire ecosystem.

The solution for open rights trading

ORE (Open Rights Exchange) is a blockchain designed for enable users to manage cryptographic identities and secure resources across multiple networks. It has developed a single sign-in system that links users’ email addresses, Google logins and social media profiles within the ORE ID. This generates cryptographic key pairs that interact with multiple blockchains, even for cloud users. ORE ID is an essentially stateless, trustless solution that contains no personally identifiable information.

By focusing exactly on the information you need, identity management systems have the potential to add even more value to blockchain technology and make user identification more secure. The ORE ID wallet’s multi-chain strategy allows novice users to take their first steps in DeFi. So it is easier for them to navigate blockchains to find decentralized financial services that best meet their expectations. This solution is already compatible with Ethereum, Algorand, EOS and Binance Smart Chain.

Open Rights Exchange fully democratizes DeFi access with secure accounts and a multi-chain global identity registry. This interoperability solution where the user has control of their identity will accelerate the adoption of the blockchain by the general public.

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Luc José Adjinacou

Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.

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