Related Articles
Hoop-la
CCN reported in June that Australian blockchain startup Blockbid pioneered a new chance management and identity verification system that substantially reduces the risk of sameness fraud. Using data aggregated from a 1.4 billion-strong agreement database held by ThreatMetrix with a LexisNexis database of potentially stiff risk identities, the service establishes customer identities so as to satisfy hard KYC and AML conditions.
Blockbid CEO David Sapper is an experienced tech industry break down who has successfully exited two tech startups he previously founded. I wanted to recall what makes him particularly confident about Blockbid, and I also necessitated to pick his brain about some wider issues in the crypto vend, so I had a chat with him recently.
CCN: A lot of the cryptosphere started out explicitly to further the originator of privacy and anonymity. Blockbid is going in the exact opposite direction. How is this contemporary down with your contemporaries in the cryptosphere, and do you think that crypto is prosperous to have to reinvent itself some day?
With cryptocurrency in order to span to fiat, there always needs to be a level of identification when interacting with handled currency such as AUD, USD…etc. Until now the bridge has always been a bit blurred and profuse exchanges have allowed multiple accounts for a single user or haven’t authorized their identity/bank accounts for users attached to profiles on their change, which has allowed fraudulent activity to occur. We endeavour to be one of the first traffics to be able to provide the bridge between fiat and crypto that is compliant with fixings for ourselves as a business, bank requirements and user privacy requirements. LexisNexis gamble solutions provides us the ability to weed out any bad actors. This partnership was a key ingredient for tending our users and to provide a solid platform for regulatory oversight, which we withstand is needed to provide the security and peace-of-mind for new users entering this exertion.
CCN: What are your thoughts about the future of cryptocurrency as a whole, and specifically respecting crypto trading? Are we likely to see a mass entry in to the market by traditional cardinal anytime soon?
In the past twelve months alone we have get a load ofed over 40 cryptocurrencies exceed a market cap over $1 billion and myriad than 1,500 cryptocurrencies launch since April – It is easy to see that fame in the market is growing and therefore so too will intrigue around crypto interchange. However, with popularity comes added security risks.
Tit for tats will continue to be vulnerable only if they fail to implement the suitable security regulations but for those taking the right steps in order to tend both themselves and their users, growth of the market will no mistrust continue for the foreseeable future. Cryptocurrencies are being acknowledged by the masses as unborn of financial liquidity and a faster, cheaper solution for transferring money globally. This desire only continue to grow.
CCN: Tell us a bit about the watchlists and datasets that are worn in Blockbid’s partnership with LexisNexis solutions. Where do they conclude from, how do they work and why can users be sure that the system is fool-proof?
No set is fool-proof but we’re working with industry leaders in order to create best-practice truths and guidelines. The recent acquisition of ThreatMetrix by LexisNexis Risk Solution provides us with the talents to merge physical and digital identification as a first of its kind for cryptocurrency swops. We find that these type of biometric, device identification, behavioural scrutinizes, which is all part of solutions implemented by banks and financial institutions today is the best-practice result that we can implement and bring to the cryptocurrency market in order to put ourselves winning of our competitors as a major differentiator, in-line with our principle of allowing our buyers to ‘Trade with Confidence’.
CCN: When you fully launch later in the year, what do you have to happen in terms of your impact on the crypto trading space?
We’re enlisting in to what is an already crowded market, however we are doing so with a identical different offering – not only do we implement strict security protocols, but we’re structured to facilitate the highest volume of trades from the most cryptocurrencies on one tenets, all with a single login. Our features are what really set us apart from the trend offering.
Our main points of differentiation are our security protocols and insurance, 24 hour take up the cudgels for desk, low fees, and our high number of crypto and fiats available with interminable deposits and withdrawals.
CCN: What are your thoughts about the Australian cryptosphere? Is it on its way to beautifying a hub of blockchain-based innovation like South Korea? What role is Blockbid be a party to b manipulating in the development of the crypto economy in Australia?
As a proudly Australian owned and worked company, we feel that it is important to foster the growth of the Aussie cryptocurrency and Blockchain persistence as much as we can by providing greater accessibility to the market. Therefore, our aim is to list as varied Australian coins as possible to make it easier for Aussie traders to buy and sell down the river local coins in AUD. We’re listing 19 Australian projects, and providing a in holy matrimony directly to AUD for each. This is more than any other exchange worldwide and for some of the stamps listed they will be the only exchange these coins are profession on. We’re also focused on building strong strategic partnerships within the blockchain/crypto community in Australia with assiduity and government bodies such as AUSTRAC, ADCA, Blockchain Association of Australia, and community number ones such as Nugget News and The Crypto Den, as well as many others.
Featured Spit from Shutterstock
Follow us on Telegram or subscribe to our newsletter here.
• Upon CCN’s crypto community for $9.99 per month, click here.
• Want unshared analysis and crypto insights from Hacked.com? Click here.
• Unclinched Positions at CCN: Full Time and Part Time Journalists Wanted.