AML/CTF risk and compliance platform Coinfirm, China-based blockchain giant NEO and blockchain venture platform QRC collaborate to address an industry-wide regulatory roadblock and to build a compliant blockchain economy.
LONDON, 13 December 2017 – Regtech leader Coinfirm announced today it has partnered with the blockchain platform NEO and the specialist venture platform QRC to nurture a compliant blockchain ‘smart economy’, with a particular focus in Asia.
The collaboration launched this week when Coinfirm CEO and Co-Founder Pawel Kuskowski and QRC CEO Adam Vaziri joined the NEO team at NEO’s blockchain competition kick-off event in Tokyo. The three entities, who share a common interest in fostering compliance, will join forces in a program that will help spur development on the NEO blockchain — a pillar in the Chinese blockchain community.
The sudden ICO ban by the Chinese government earlier this year had a big impact on the blockchain industry and threw the spotlight onto regulation. Now, Coinfirm, NEO, and QRC have teamed up to address the enduring insufficiency in blockchain regulation. Tackling this long-standing roadblock could open up the entire blockchain ecosystem to the mass market, and support the trend for ICO’s.
NEO is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate their management using smart contracts and to realize a “smart economy” with a distributed network.
QRC is a regtech specialist venture platform with a presence in the UK, Hong Kong, Japan, China, Vietnam, and Malaysia. The company provides a ‘one-stop-shop’ for blockchain projects with the capability to handle design, build and deploy regtech tokens, as well as oversee the legal aspects.
“The blockchain community is all about collaboration and it is a delight to join forces with two entities who share with us the vision and capacity to embed compliance in the industry,” Kuskowski said. “Launching this initiative in Asia has been particularly gratifying because of the vibrant engagement in a region that is crucial for the success of blockchain.”
Coinfirm has built its presence in the sphere through innovative solutions and partnerships with major players from both the crypto and traditional financial sectors for almost two years, including virtual currency leaders Dash and RSK (Rootstock), and international asset management funds such as SEI.
QRC and Coinfirm have had an ongoing relationship and recently QRC also became an exclusive partner for Coinfirm’s AMLT token in Japan. The token of compliance, AMLT is currently in the beginning of its Token Sale and is designed to bring new levels of transparency and democratization to the financial system by actively involving market participants in risk determination. AMLT Token will help fuel transactions on the Coinfirm platform, enabling risk management and creating a network for safe and transparent value exchange.
Through their respective commitments, the three groups help set the foundation for a new standard of safety and compliance that encourages the wider participation in global markets. This will both increase the efficiency of transactions and also improve trust for new and existing members in those markets.
Coinfirm is a recognized leader in their field, ranked among the most influential blockchain and regtech companies and serves as a foundation for the safe adoption and use of blockchain. The Coinfirm AML/CTF Platform uses proprietary algorithms and big data analysis to provide structured actionable data that increases efficiency, reduces costs and streamlines compliance to near automation. The blockchain agnostic platform benefits companies operating around blockchain as well as major financial institutions, asset management companies and BI companies. For more information about Coinfirm please visit coinfirm.io or amlt.coinfirm.io to learn about their AMLT.
NEO is a non-profit community-based blockchain project that utilizes blockchain technology and digital identity to digitize assets, to automate the management of digital assets using smart contracts, and to realize a “smart economy” with a distributed network. NEO was founded in 2014 and was real-time open source on GitHub in June 2015.
QRC is a regtech specialist venture platform with a presence in the UK, Hong Kong, Japan, China, Vietnam, and Malaysia. QRC has three areas to their business. The QRC Hub is a ‘one-stop-shop’ for blockchain projects with the capability to handle design, build and deploy regtech tokens, as well as oversee the legal aspects. QRC Institute works with universities to conduct blockchain research. QRC Ventures is the investment arm of the QRC Group that specializes in regtech projects and tools for the blockchain.
Images courtesy of Coinfirm
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