ValidSoft’s SMART solution (Secure Mobile Architecture for Real-Time Transactions) is to underpin Ven’s social networking and virtual currency transactions. The company will debut platform extensions featuring scalable security solutions later this year with an expanded set of consumer offerings with corporate partners. Run by HubCulture, the venture is moving into digital financial markets – from P2P transaction and corporate holdings to trading markets for equities, commodities and other currencies. ValidSoft will use multi-layered authentication – incorporating voice biometrics - to provide the security it requires.
Stan Stalnaker, founding director of Hub Culture, comments: “As the scale of complexity in virtual currency economies explodes, we are determined to design and implement the most user friendly and secure capabilities to safeguard against inevitable attempts by fraudsters to take advantage of emerging financial exchange methods. The Central Ven Reserve System currently identifies transactions to mitigate issues around compliance, money laundering and theft, and customised SMARTvc architectures will be at the core of new exchanges linking Ven to other virtual assets.”
He adds: “Hub Culture is leading the world in the creation of green, clean and transparent financial ecosystems, and making sure these new capabilities employ a new world standard of safety, privacy and security for our members. Thanks to this partnership with ValidSoft, Ven will accelerate its evolution as a cutting edge global financial tool. As it moves from the relative confines of Hub Culture into digital financial markets, it will embed security as a core element in all levels of Ven – from P2P transactions and corporate holdings to trading markets for equities, commodities and other currencies. Our 100 per cent reserve backing, unique environmental DNA, diversified price stability and ease of use are enhanced by this serious approach to security standards. This will help cement us as the transparent, green, trusted choice for consumers, corporations and governments seeking to benefit from the opportunities presented by virtual currency.”
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