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Anti-Money Laundering (AML)

5 mins read
Anti-money laundering policy involves a number of measures used by a financial institutions to stop the reintroduction of the proceeds of illegal activities. The implementation of such rules is mandatory and overseen by regulatory authorities.

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Know Your Customer (KYC)

4 mins read
KYC (Know Your Customer) is a process of customer identity verification performed on a regular basis to eliminate bribery, corruption, and other illegal financial activities. It’s also a requirement of international AML (Anti-Money Laundering) regulations.

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Key Terms in Compliance

3 mins read
A virtual asset is a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes. Virtual assets do not include digital representations of fiat currencies, securities and other financial assets that are already covered elsewhere in the FATF Recommendations.

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Custody, Insurance and Audit

7 mins read
Crypto Custody
Unlike the custody of fiat currency, for the custody of virtual assets the custodian usually “holds” the private key of the cryptocurrency on behalf of the customer since digital currency only exists in the distributed ledger of the blockchain.

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Regulatory Compliance and Technology

9 mins read
A digital certificate, also known as public key certificate, is an electronic document issued by a trusted third-party Certificate Authority used to prove the ownership of a public key.
The digital certificate includes information about the key, the identity of its owner (called subject owner), and the digital signature of a CA (called the issuer) that verifies the certificate`s contents.

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Crypto Wallets

3 mins read
A crypto wallet is a tool that is used to interact with a blockchain network. They make it possible to send and receive cryptocurrencies for blockchain transactions. Each wallet has a unique alphanumeric identifier called the wallet address which is based on the public and private keys. The address can be publicly shared so that funds can be transferred to the specific ‘location’ on the blockchain that the address denotes.

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Blockchain in Finance

3 mins read
Decentralized finance, also known as DeFi, intends to offer a viable alternative to the traditional financial system in the form of a decentralized system. DeFi refers to a purely decentralized governing body. For example, Central Bank Digital Currencies (CBDC) is NOT a DeFi application, as it is minted and controlled by Central Bank.

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Blockchain in Gaming

2 mins read
In the traditional gaming industry, the majority of gaming data is fully controlled by the gaming companies, including account information and in-game assets collected by the players such as skin, collectibles and virtual money. As everything is owned by the gaming company, the players don’t really have the ownership of their accounts or in-game assets. Such centralized models may present vulnerabilities like server malfunction or hacking. The gaming economy is also controlled by the company and when a game is shut down, the players will lose everything with it.

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Blockchain for Trade Finance

20 mins read
The ocean bill of lading is abbreviated as ‘bill of lading’, and it is a written certificate issued by the ship or its agent to prove that the goods have been received and allowed to be shipped to the destination and delivered to the shipper. It is a proof of contract between the carrier and the shipper. It has the effect of a property certificate in law.

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