NEAR Kenya collaborates with UTU Trust to incorporate UTU Trust infrastructure on the NEAR protocol to aid in web3 development.
NEAR Kenya partners with UTU Trust to deploy UTU’s infrastructure services on the NEAR protocol. The move intends to bring growth to the ecosystem and assist developers and project leads in web3.
Advancement in the NEAR protocol will ensure that dApp developers create their projects in a well-supported system. UTU seeks to bring its infrastructure to the NEAR protocol.
UTU’s web3 experience
UTU and NEAR’s partnership will aid in dApp integration and the creation of a seamless user experience. The UTU protocol uses blockchain to reward trustworthy actors.
The protocol also informs users of the trustworthiness of web3 and DeFi-based structures. Some of the DeFi-based structures include decentralized apps, wallets, assets and smart contracts.
UTU’s mission involves boosting the trustworthiness of its entire internet and replacing anonymous star ratings. The UTU protocol uses blockchain to reward trustworthy sites and players in web3.
The firm pays for endorsing and creating trustworthy reviews and ratings of dApps. The company also pays users for sharing their data with the protocol.
UTU’s protocol endorsements mechanism ensures that reviews are real and cannot be manipulated. With UTU, users gain full control over the data they share.
The platform exemplifies an integrated system of dApps and other related sites. The firm’s products help remove the burdens of lack of trust in the DeFi space. This mainly affects users, lenders, borrowers and builders in web3.
More features on the protocol
The DeFi-based portal allows users to endorse and view recommendations for trusted or untrusted services. Services in this category refer to dApps, exchanges and third-party oracles.
The portal allows users to decide which DeFi tools to use. Through its AI engine, UTU delivers trust signals where and when you need them the most.
The process, therefore, facilitates smooth crypto transactions among users of the protocol.
UTU API tools help developers increase their trust in web3 and DeFi products. API tools access on and off-chain data. The AI algorithms help in surface data-driven, trust and creditworthiness signals in the protocol.
NEAR expansion plans
On October 12th, the UTU protocol mainnet was officially launched. The mainnet housed the decentralized infrastructure for web3.
The move paved the way for a bigger product announcement. The move comes after NEAR Foundation launched a web3-based hub in South Korea. NEAR aimed at expanding its influence in the Asian continent.
In May 2022 the swiss non-profit firm teamed up with Sankore from Kenya to establish a blockchain hub in Kenya. The hub focuses on delivering education, innovations, and talent not only in Kenya but also in the rest of the continent of Africa.
Apparently, with such a partnership, NEAR seems to be targeting the web3 space in Africa as well. The move will benefit developers using the NEAR protocol through infrastructural updates.
Developers in web3 will now get feedback through UTU trust signals incorporated in the NEAR protocol.
