CheckDot is a moonshot tech company that announced in a press release the creation of the very first anonymized decentralized validation project. The platform allows institutional investors and crypto-lovers to determine the legitimacy and trustworthiness of projects built using blockchain technology. These sub-projects include NFTs (non-financial transactions), smart contracts, codes and others.

Sauntering an untrodden route, CheckDot will become the first “opinions project” on the Binance Smart Chain [BSC]. CheckDot, according to the source, will exhume any buried information concerning emerging platforms or companies through the valuable opinions and recommendations of blockchain users.

The nascent initiative is pioneering a paradigm shift.

Numerous reports have been made about fraudulent crypto-enterprises using various strategies, such as rug pulling. The trust deficit is growing exponentially in the multitrillion dollar crypto market. Realizing the negative implication of this recent trust shortfall to the growing market, CheckDot’s key objective is to help project developers and company owners win back the trust of their clients through its anonymous validation system.

According to Google Trends reports, there are now thousands of projects in the digital asset space, many with unfounded and unreasonable claims. All of this contributes to the rapid growth in virtual currency. The problem is that it can be difficult to identify and filter through the legitimate and trustworthy platforms. Squid Games and OneCoin have been infamous for defrauding unsuspecting investors out of many millions of dollars. This has contributed significantly to the decrease in trust potential investors have and their confidence in these blockchain-based companies.

In an attempt to solve this issue indefinitely CheckDot has made the bold move to provide all crypto users with advanced technology to aid in thorough sanitization. This includes anonymous validation of companies, brands and blockchain services.

Ten special services have been gathered, the Code Audit being the first. This service, said the team of developers, will be available to all users before the year ends. Users can request assistance before they invest in projects and also perform audits.

Like most platforms in the crypto space, CheckDot will also offer users an opportunity to earn each time they engage in certain activities on the platform — KYC Audits, Contract Audits, Anonymous Forms, Business Verifications, E-commerce Pre-verification Opinions, and Service Trust Analysis However, users are required to own a stipulated number of the platform’s native token, Check Dot Token [CDT].

The utility token CDT will allow users to gain access and kickstart the verification process. After that, they’ll be rewarded for various actions on the platform with additional tokens.

Offering a ton of services, the development team, according to the press release, will, in the first quarter of 2022, move to the second phase where community members will have the privilege of verifying firms and special services, then have the results listed on the platform’s user review section.

Continue reading on BTC Peers