Abris.io Launches Licit, a Web3 Verifying Platform for Digital Assets on Algorand

ANDOVER, Mass. and DUBAI, UAE, Nov. 29, 2022 /CNW/ -- Abris.io today announced the launch of its new product Licit, a Web3 verifying platform on Algorand.

Licit is a platform to verify all types of digital assets with the power of blockchain and artificial intelligence. It can verify documents, barcodes, provenance, counterfeits and all things digital. Licit is very easy to use and requires no knowledge  of  blockchain technology, crypto, or web3. Any user can drag and drop, or take a picture of a digital asset, to verify its authenticity. 

Licit is cost-effective – the metahash is stored for life in blockchain without additional  cost. It is also super-fast – verification of any asset takes only a few seconds. And, it is environmentally-friendly, having launched on Algorand, the world's first major carbon-negative blockchain in existence.

Use cases for this new platform are not limited to a single industry but can be applied to virtually all verticals that generate digital data. For example, institutions can issue authenticated, tamper-proof education certifications; organisations can scan and validate identity documents; brands can seamlessly prove item authenticity via QR codes on packaging; and more. 

By leveraging next-generation technologies like blockchain and artificial intelligence, Licit counters existing issues with legacy systems, including redundancy, lack of privacy, and security risks. Legacy certification systems offer less security and privacy compared to Licit and are prone to tampering. Moreover, they are costly to maintain and not environmentally friendly. Blockchain addresses security risks and redundancy issues. Licit also features built-in Optical Character Recognition (OCR) AI, which can classify a document by reading solely its metadata, and preserving the privacy of all other information.

"As the world continues to move to wholly digital systems, data really has become the new oil, representing incredible value," said Priya Samant, CEO and Co-Founder of Abris.io. "This means it is more important than ever to have easy, secure ways to be able to verify the authenticity of digital assets and the data they contain.  We are excited to launch Licit to help bring verifiable credibility and authenticity to our digital future."

For more information on Licit, a product under the Abris umbrella, a Massachusetts headquartered company, visit licitdoc.com

About Abris.io
Abris is an ambitious, innovative and progressive Web3 company, which brings creators around the world to showcase their creativity as NFTs as an exclusive collection or listing them in an Omni store, and empower them to market their assets with no boundaries. Abris also offers NFTs-as-a-Service to help Artists, Celebrities, Galleries, Non Profits, Social impact initiatives and Enterprises to mint and sell their  NFT drops and white label solutions to create NFTs as utilities for industry verticals. Abris provides custom drops across multiple blockchain and supports payments via crypto, FIAT currencies via credit/debit cards. At Abris, we are democratizing the world of NFTs by empowering and building a creative economy. https://www.abris.io/.

About Algorand
Founded by Turing Award–winning cryptographer Silvio Micali, Algorand's high-performing Layer-1 blockchain is unparalleled for bringing fast, frictionless, and inclusive technologies to everyone. Algorand is reshaping every industry–from TradFi and DeFi to new creator economies and beyond. With an extraordinary commitment to interoperability and consistent delivery, its sustainable technology powers more participation, transparency, and efficiency for all. As the technology of choice for 2,000+ global organizations, the Algorand ecosystem is transforming the next generation of financial products, protocols and exchange of value. For more information, visit www.algorand.com.

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SOURCE Algorand