Blockchain tech firms AllianceBlock and Flare integrate technologies to

AllianceBlock, a blockchain tech firm that seeks to bridge the gap between decentralized finance, or DeFi, and traditional finance, announced a partnership with fellow blockchain tech entity Flare. Flare claims its layer-one, or blockchain protocol improvement, technology can bring smart contracts to cryptocurrencies such as Ripple ( XRP ), Dogecoin ( DOGE ), Bitcoin ( BTC ), Algorand (ALGO) and Stellar Lumens ( XLM ). In addition, Flare is also a decentralized oracle network that seeks to enable blockchains to access real-world data in smart contract execution. Meanwhile, AllianceBlock brings to the table its cross-chain interoperability solution AllianceBridge, its native decentralized exchange, or DEX , known as AllianceBlock DEX, decentralized peer-to-peer funding protocol AllianceBlock Fundrs, and its compliance and regulatory solution. Together, the two parties seek to enhance their blockchains for DeFi capabilities with each other's technologies. Asked about its DeFi and regulatory compliance services, Rachid Ajaja, co-founder and CEO of AllianceBlock, told Cointelegraph:Ajaja further explained that the firm's regulatory and compliance products automatically check for non-compliant transactions before each trade. In addition, they can add such rules to smart contracts running on decentralized applications, or DApps , to ensure crypto exchanges and financial institutions stay up-to-date on the latest regulations. Hugo Philion, Flare’s co-founder and CEO, said the following in regards to the capabilities of the network:He further elaborated on the company's partnership with AllianceBlock:


All data is taken from the source: https://cointelegraph.com/
Article Link: https://cointelegraph.com/news/blockchain-tech-firms-allianceblock-and-flare-integrate-technologies-to-expand-their-defi-ecosystems


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