Web3 protocol Wakweli has announced a new partnership with the Blockchain Lawyers Group (BLG) to enhance its web3 legal expertise and strengthen its proof-of-democracy consensus algorithm.
Wakweli partners with BLG
The Blockchain Lawyers Group is a global network of legal professionals with significant experience in blockchain and crypto-related matters. While Wakweli is a layer-1 protocol based on a new and decentralized consensus algorithm that issues certificates of authenticity for non-fungible tokens (NFTs) and RWA to secure the web3 ecosystem.
Wakweli’s proof-of-democracy consensus algorithm aims to certify the authenticity of any tokenized asset, and all members involved in the protocol will receive strong incentives for acting fairly and developing a standard of trust in the tokenized asset ecosystem. Once the certificate is issued, the newly certified asset will display a tick mark (Wakweli Tick) which will be a symbol of trust and value among the community.
The partnership between Wakweli and BLG will enable deeper protocol refinements and provide easy access to qualified legal advice for businesses operating in the decentralized ecosystem. As part of the collaboration, group members will take part in the validation of the first certificates and strengthen the whole process to uphold the market integrity of tokenized assets.
Wakweli raised over $1.1m from investors during its first funding round in 2023 and debuted its website, whitepaper, and Alpha. The initiative encourages enterprises to build on its layers and apply for token grants from its on-chain treasury. A special foundation will be established later this year to manage the initiative.
The collaboration with the Blockchain Lawyers Group will provide even more value to the project and assist in securing the exponential and passionate web3 ecosystem. This is a significant step towards providing competent legal advice in blockchain, qualified in crypto-related matters, and bringing a new level of innovation, compliance and user-friendliness to the market.
Enhancing web3 legal expertise
The collaboration between Wakweli and the Blockchain Lawyers Group highlights the importance of legal expertise in the growing blockchain ecosystem. The partnership will enable businesses to operate within a legal framework and ensure that tokenized assets are certified and secure.
BLG founder and member, Miguel Dinis Lucas, said:
We are excited to partner with such an innovative company as Wakweli, which is trying to solve a preeminent issue in the NFT space. We are confident that our collaboration will bring new levels of innovation and user-friendliness to the market.
With more regulatory action on the horizon, the Blockchain Lawyers Group will provide enhanced Web3 legal expertise, enable deeper protocol refinements, and ensure easy access to legal advice for decentralized projects.
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