The NEM Foundation and TheVault Ltd. Partner to Raise the Trust of Crypto Currency Consumers
KUALA LUMPUR, 1 FEBRUARY 2019 – The NEM Foundation is pleased to announce that it has signed a strategic partnership with TheVault Ltd, an Artificial Intelligence (AI) powered blockchain solution for secure financial payments and trading.
TheVault Ltd is currently developing a consensus network and an AI fraud detection system that will protect crypto currency transactions from error and theft. Additionally, transactions monitored by the consensus network will be guaranteed.
TheVault Ltd’s solution is based on three key strategic pillars.
- An AI-powered, Hybrid-Fraud Detection Solution (HFDS) whose AI-machine learning is at the core of the platform
- Consumer based software security that provides trusted partners with security for their consumer applications.
- A Vault consensus protocol with a consortium of trusted partners collaborating to protect and secure the platform.
TheVault Ltd plans to provide its solution to crypto exchanges at no charge.
“Finally, consumers will have the kind or protection that they expect from traditional on-line banking,” says TheVault co-founder, Dannie Francis on what the company’s solution offers.
The partnership will see TheVault Ltd develop the consensus network at NEM’s Blockchain Center in Kuala Lumpur. It will also allow them to to leverage NEM’s global exchange partners and ecosystem, joining the more than 100 decentralized application (DApp) projects that have been developed based on the NEM Blockchain.
“The versatility, performance, and protection provided by NEM Mosaics is exactly what an application like ours requires,” says Jeff Middleton CTO at TheVault.
“We’re glad that TheVault Ltd has chosen to partner-up with the NEM Foundation and utilise the NEM Blockchain in the development of their solution. Their addition to our family of projects further highlights why the NEM Blockchain is one of the best platforms for projects to be developed on,” added NEM Malaysia’s Director of Investments and Strategy, Jasmine Ng.
About TheVault Ltd.
TheVault Ltd was established to protect Exchanges and Consumers with a solution that they can trust and drive the usage of cryptocurrencies with guaranteed security. Its solution is claimed to be the world’s first AI-powered blockchain solution for secure financial payments and trading.
About the NEM Blockchain Platform
NEM is an out-of-the-box enterprise-grade blockchain platform which launched in March 2015. NEM has industry leading blockchain features that include: multisignature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. Companies with legacy systems can “plug ‘n play” with NEM.
About the NEM.io Foundation Ltd
NEM.io Foundation is registered in Singapore and is operating globally. It was launched to promote NEM’s blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.