Blockchain
VerifyVASP Launches Travel Rule Working Group with 14 Korean Virtual Asset Service Providers
VerifyVASP launches the Travel Rule Working Group (TRWG – Korea) in association with 14 operators who have completed the virtual asset service provider registration process in Korea. The Travel Rule Working Group will utilize VerifyVASP’s end-to-end encrypted messaging protocol to satisfy the Travel Rule requirement by the end of March, which is the deadline to comply with Travel Rule in Korea under the “Act on Reporting and Using Specified Financial Transaction Information”.
APROBIT, Beeblock, Cashierest, COIN & COIN, COREDAX, Flata, FLYBIT, FOBLGATE, GOPAX, Hanbitco, Huobi Korea, OkBit, TENNTEN, and PROBIT are among those who are participating in the Travel Rule Working Group. The VerifyVASP team anticipates additional participation from other businesses who have completed the virtual asset service provider reporting process. The Travel Rule Working Group plans to complete all the necessary integration and testing by mid-February before conducting a month long pilot, expecting stable operations in full compliance with the regulatory requirements before the end of March.
In December 2021, VerifyVASP attracted strategic investment from Chainalysis, the blockchain data platform. The company provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. VerifyVASP also adopted InterVASP Messaging Standard (IVMS101), the international messaging standard for transmitting Travel Rule Information, which is essential for the solution to link licensed VASPs not only in Korea, but also with other VASPs, globally. VerifyVASP’s end-to-end encryption technology seeks to protect personal information according to the requirements of various jurisdictions including the European Union’s GDPR.
“In accordance with FATF’s recommendations, compliance with the Travel Rules is a global trend, and over the past few years we have put our resources into develop a stable solution which fully complies with regulatory requirements,” said Jae-Hyeon Park, CEO of Lambda256, the technology partner of VerifyVASP. Ulisse Dell‘Orto, director of VerifyVASP and Managing Director Asia Pacific & Japan (APJ) at Chainalysis expressed his ambitions for the partnership with VerifyVASP: “We have been pioneering Travel Rule adoption in South Korea and plan to expand both regionally and globally to provide more transparency to the global virtual asset industry and help it grow safely and responsibly.”
Blockchain
Bybit Invites Traders to Embark on a Token Treasure Hunt
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Blockchain
India Electronic Contract Services Market to Worth Over US$ 624.33 Million By 2033 | eSignature Demand Among Financial Institutes to Remain High Says Astute Analytica
Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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