Featured – The blockchain industry is currently going through dramatic changes associated with technological growth and legal regulations. Due to the fact that the industry is in its infancy, it undoubtedly possesses some risks in the form of different vulnerabilities. We have seen this recently with Bitcoin Core.
Those problems, however, are being eliminated by the implementation of new security standards in the form of a decentralized ecosystem, powered by a company called Optherium.
Optherium, a Blockchain-as-a-service provider for Fortune 500 companies, aims to help different financial institutions, banks, companies and corporations with their financial operations. This new platform will provide a way to send and receive money, using peer-to-peer technology to dramatically lower transaction costs and ensure speeds that up until now have been unheard of.
Currently, the project has successfully acquired Foreign Exchange Licenses, a Lichtenstein Bank License, and it is compliant with SEC Regulation D.
Optherium will also provide revolutionary security, in order to prevent the theft of cryptocurrencies and sensitive information. All of this is backed by Dynamic Biometrics and the MultiDecentralized Private Blockchains Network. So, how will these technologies improve the financial industry?
Delivering New Security Standards
In aiding the financial industry, Optherium has developed a MultiDecentralized Ecosystem, which provides a high level of security and scalability. Moreover, Optherium will work as an intermediary between clients and banks, providing seamless and high-speed crypto-to-fiat operations. The importance of this cannot be overstated, as there is currently no competitive crypto-to-fiat intermediary that can provide the needed security and flexibility in financial operations.
Optherium’s Ecosystems consist of Private Blockchains, which provide several important services inside the platform itself: a Decentralized Exchange, Key Recovery Service, Wallet Provider service, Know Your Customer Service, and B2B and B2C platforms.
Optherium already offers these features inside a reliable, fully-functioning multicurrency wallet called VivusPay, which is connected directly to the banking system and Optherium’s decentralized exchange, Bitcrox.io.
This will open doors for a variety of businesses and clients seeking a place to safely store and manage cryptocurrencies, with access to the assets and the platform itself protected with MultiSecure Technology™ and Dynamic Biometrics™.
Considering these technological improvements, many businesses will be able to avoid huge transaction fees and make payments almost instantly, ensuring a high level of sensitive data security. There won’t be a problem associated with credit card data theft or identity theft, which will save billions of dollars worldwide every year.
Dynamic Biometrics Changes the Game
Considering the fact that every year hackers steal billions of dollars in cryptocurrencies from exchanges and user’s wallets, the Blockchain field has to be modernized.
Optherium’s Ecosystem has a flawless defense mechanism against the theft of sensitive information, making it almost impossible to steal cryptocurrency. Moreover, if the client loses their private key, it can be easily restored via a special Key Recovery Service, which uses biometric data as a core component of the verification process.
The Dynamic Biometrics™ system uses specific biometric data (fingerprint, voice, dynamic facial movement, retina etc.) and stores it fragmentary across multiple private blockchains. Retrieval is invoked only via the special digital key assigned to the biometric data, which decrypts it in the process of verification.
Moreover, the system continuously distorts the biometric data, making it useless to steal even a fragment of it or the key itself which unlocks this data. All fragments of the Biometric Template™ will be different almost every time. On top of that, data fragments are scattered across different private blockchains. This makes Optherium very resistant to different types of hacking attacks. Every time the customer wants to access the products offered on the platform; they have to pass the KYC service, which involves the whole biometric verification process.
Optherium truly pushes new standards on the cryptocurrency market, providing financial institutions and businesses with working tools, allowing them to not only store crypto assets securely, but use a payment ecosystem that is capable of more than 100,000 transactions a second. The ITO has already been launched, with registration for the whitelist sale starting from October 5th.
Optherium has already successfully raised $3,000,000 on a seed round, most of which was put straight back into the development of the product. The project has already become a member of the Linux Foundation and Hyperledger.
Currently, the Optherium Ecosystem can be considered as one of the most secure and technologically advanced on the market. In the next couple of years, the Ecosystem will be implemented globally across different B2B companies, taking the financial industry to a whole new level.
Source: Crypto Potato