The crypto industry's users know that the digital currency sector is still far from being properly regulated, but it would be incorrect to say that there is absolutely no input or guidance on how projects can and should act, what should they be like, and what kinds of things they can offer. But, being in compliance with thorough regulations can be difficult, let alone vague ones, such as the ones that are currently only available for the crypto sector.
So, the easiest way to deal with them would be to hire experts that would help with navigating the regulatory compliance waters, and that is exactly where Sekuritance enters the picture.
What is Sekuritance?
Simply put, Sekuritance is a CeFi & DeFi-oriented RegTech ecosystem. It delivers compliance, regulatory, transaction monitoring and identity management for individuals and merchants alike. Its platform is a full-service RegTech ecosystem and toolkit that can offer the mentioned services for institutions of all sizes, and even for individuals.
The project has its own native cryptocurrency, known as the SKRT Token. The token's main purpose and primary function is to power the platform, meaning that it is used for processing and logging of compliance and regulatory security and payment-related verification tasks. The token further acts as the underlying payments platform for various Sekuritance products, software apps, and more.
One thing that should be particularly pointed out is that Sekuritance offers services for everyone. That includes governments, exchanges, banks, users, partners, and others.
According to its site, the company can help the governments use its services to enforce regulations, investigate financial crimes, audit compliance, and more. Of course, the government already has services that can do all of this, but Sekuritance itself could do it much faster, much cheaper, and provide just as reliable results, if not better.
As for exchanges, Sekuritance can offer KYT, otherwise known as Know Your Transaction, and it can ensure automate AML compliance. The banks can get an expanded version of its services, which includes not only AML, but also KYC, KAY, and KYT. The benefit is that all of these services can be used from a single source, so the banks do not have to partner with multiple companies to make use of these types of services.
For its users, Sekuritance aims to become the currency and platform that will act as a decision-making engine for their transactional needs, while for its partners, it offers to create and share revenue generated by the platform in a fair, secure way.
What Services does Sekuritance Offer
It is also worth mentioning that the project offers the so-called Sekuritance RegTech Suite, which consists of a number of services including:
Sekur.Vault, which is a unique Omni-vault, fully audited and configured to act as storage that adds value to the output.
Sekur.MFA, which is meant for payment gateways and card acquirers
Sekur.Transact, which is for institutions facing losses due to financial crimes
Sekur.Trace, which was created for banks, financial institutions, cyber-crime authorities, and Government agencies, in general
Sekur.Alert, meant to be used by merchants
Sekur.Certify, which is the last of the services, and is meant for claiming controlling power certification on a particular wallet
Sekuritance was created by a team of more than 20 FinTech professionals, with exposure in multiple verticals. All members of the staff are industry accredited, certified, and dedicated to operations, quality assurance, development, marketing, research, and support.
It should also be mentioned that the SKRT smart contract is blockchain agnostic, meaning that it can be exported and moved to other public and private protocols. In other words, it can be used on almost any blockchain, including the likes of Bitcoin, but also Hyperledger.
The project also has plenty of plans for the future, including the introduction of SKRT into the ecosystem, developer app integration, the introduction of new 3rd party data sets for further enhancement of the results set, and more.
The bottom line is, Sekuritance is a young but advanced platform where institutions and businesses of all sizes can run compliance, regulatory, and monitoring queries and programs through the use of various services and solutions that the firm has to offer. It is all done in a transparent way through the use of SKRT token and smart contracts, and any kind of business or institution is welcome, from merchants to banks, large corporations, and more.