Recapitulation of Sekuritance PROJECT AMA event held at AMA LOVERS CLUB.
Date: Tuesday, 20th July, 2021
Time: 13:00 UTC
The Sekuritance PROJECT team was represented by @DGCTO who judiciously shared with us detailed knowledge and information about Sekuritance PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on SEKURITANCE?
ANS: with pleasure
i'm a software engineer by profession and built several companies in the past in various verticals including pubblic sector, oil&gas, gaming, etc - but always on the software side of things
been in the fintech space for 14 years now and blockchain for 5
my other enterprises all focus around banking facilities, credit card acquiring solutions, credit card issuing solutions, etc always on the fintech side of things -
to keep those companies always above board and in compliance, loads and loads of internal checks and balances have to be done consistently and in real time -
that is where the idea of Sekuritance came along - and the team working with my on Sekuritance are seasoned professionals with varying skillsets
my right hand man - Mr. Jan Gatt is our CTO and we have worked together for years on various solutions -
we have our own internal blockchain legal associate, MLRO for risk and compliance and a full development team amongst others
Q2: Can you introduce the SEKURITANCE, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Sekuritance started as a means to solve the internal compliance and regulatory framework in the other companies I manage – namely in banking, credit card processing and foreign exchange management. Each one needed several suppliers to do all sort of checks both on the individuals/companies themselves as well as all the transactional related bits – such as geo-IP checks, device checks, high risk checks, chargeback checking, blacklists, etc.
It was a nightmare to control them all so we wanted to create a go-to solution where a startup or a multinational conglomerate can integrate to and join the dots for all their RegTech and risk tech needs. Nowadays, fancy words like FinTech, RegTech, RiskTech and others are appearing on the market and they are definitely the way forward – we are fortunate enough to exist in all. Putting it simply – if any piece of software or service solves a regulatory issue (like a compliance check or a politically exposed person check, etc. they form part of a RegTech solution – which is a very vast term and has loads of uses)
Anything offering a solution to understand, minimise and report on a risk factor in the business is encapsulated in a risktech suite – and similar for transaction – an online bank app for example would be part of a fintech suite.
There is no other solution bridging both financial realsm (fiat and crypto) - bringing all these tools under one roof - and working hard for individuality inclusion - we have tens of thousands of users already and we are just getting warmed up.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: I am super proud of all the achievements so far to be quite honest. The team has worked hard for this and continues to deliver and thanks to our recent public introduction, we were able to increase the team with a lot of new talent which will help us deliver more.
To name a few:
1) We are one of the very few projects who have launched into this space who not only actually has a NON-ANONYMOUS Team but also a working solution that does exactly what it says it does.
2) We have been revenue generating from day 1 of our launch - unlike other projects who do not even have a product or a prototype and we are super proud of that.
3) We have since onboarded thousands of members on our platform and our official UI is not even launched yet.
4) We have signed up consistently new merchants every week and a ton of new ones in discussion.
5) We have two new departments in our team which is focussing on selling to our customers specialised legal/jurisdictional crypto consultancy as well as a "startup token kit" such as circulating supply APIs, vaults, API integrations to beef up their offering and much more.
6) We have our first official exhibition (participation) confirmed for October in Dubai.
7) we have engaged in excess of 20 marketing influencers and partners to help us reach more audiences
😍 we have been listed on Ellipal Cold Wallet Coin list, TrustWallet, CoinGecko, CoinMarketCap and working on other partnerships.
Q4: Can you briefly describe your PARTNERSHIPS so far?
ANS: In short they can be summarised as:
1) Launchpads (including TrustSwap - one of the biggest names in Crypto) and 3 more being negotiated
3) OTCs - several
4) Risk Strategy Consultancy Companies
5) Corporate Services Companies
The above are the ones helping us generate most of our revenue right now and build our user base.
On the partner/supplier point of view, we have several solution providers who plug into our regtech offering.
Q5: Finally on this segment, Can you give an overview of your Tokenomics, and the UTILITY of the $SKRT Token?
ANS: Our total supply is a fixed 818,202,997. The token enables the sekuritance identity management solution, the speedy token launch onboarding and the individual KYC/KYB personalised certificates.
Over and above it is the only way to earn introductory and referral fees on our affiliate and partner network. We have several new fields where the token would be used and also how it is re-circled into the liquidity pools and also burnt under certain circumstances - it is an evolving process.
Also - partners and merchants also because token governors based on the individuals they accept as verified, etc - always bumping up the reputational scoring of the individuals or businesses or transactions being screened.
Important to note that there is only a limited supply in circulation right now - through our partners and initial participants, and moreover all participants were asked to vest their part for at least 6 months whilst the team for much longer.
2nd Segment: LIVE Questions
Q1: Could you tell me more specific details regarding the launch of the application integration platform for developers and how developers will be able to access this platform and what will be the advantages and benefits they will be able to obtain?
ANS: Starting with this as it is very interesting - any developers who believe they have skills or products to controbute to our network and solution are to get in touch with firstname.lastname@example.org with their proposal - each time their system/service is used, they accumulate SKRT rewards to their account -
Q2: I came across RegTech on your platform. Can you briefly explain what the RegTech is all about and how is it linked to Securitance?
What are the various benefits that a user stand to gain by holding the SKRT and what opportunities are there for users with the SKRT?
ANS: Regtech is the management of regulatory processes within the financial industry through technology. The main functions of regtech include regulatory monitoring, reporting, and compliance.
Regtech, or RegTech, consists of a group of companies that use cloud computing technology through software-as-a-service (SaaS) to help businesses comply with regulations efficiently and less expensively. Regtech is also known as regulatory technology.
Financial institutions and regulators both use Regtech to deal with complicated compliance processes.
The rise in digital products has increased data breaches, cyber hacks, money laundering, and other fraudulent activities.
With the use of big data and machine-learning technology, regtech reduces the risk to a company’s compliance department by offering data on money laundering activities conducted online—activities that a traditional compliance team may not be privy to due to the increase of underground marketplaces online.
Regtech tools seek to monitor transactions that take place online in real-time to identify issues or irregularities in the digital payment sphere. Any outlier is relayed to the financial institution to analyze and determine if fraudulent activity is taking place. Institutions that identify potential threats to financial security early on are able to minimize the risks and costs associated with lost funds and data breaches.
Regtech companies collaborate with financial institutions and regulatory bodies, using cloud computing and big data to share information. Cloud computing is a low-cost technology wherein users can share data quickly and securely with other entities.
A bank that receives huge amounts of data may find it too complex, expensive, and time-consuming to comb through. A regtech firm can combine complex information from a bank with data from previous regulatory failures to predict potential risk areas that the bank should focus on. By creating the analytics tools needed for these banks to successfully comply with the regulatory body, the regtech firm saves the bank time and money. The bank also has an effective tool to comply with rules set out by financial authorities.
there is much much more on our whitepaper https://link.sekuritance.com/whitepaper but in the meantime, have a look at this.
Q3: Many of your products and services require an experienced and experienced team to be able to satisfy users and not disappoint users.
✔️ Does Securitance have an Experienced and Professional Team in their field?
✔️ You have a variety of products and services, does your Team also have Specialization and Expertise in each product so they can focus on each product?
ANS: This is one of our core assets - our people! We all come from a fintech and regulatory background and none of our team members are anonymous - public profiles - linkedin, etc - I invite you to read more about us here: https://www.sekuritance.com/team/
Q4: 🧨 It caught my attention that one of your products will be “Scam Hack Reporting”, can you tell us more about this? How will this system work and how accurate it is? What kind of information will you gathered in order to verify that a project is indeed scam?
ANS: Our UI which is being revamped and re-issued to the general public in the weeks to come has a unique feature whereby we invite the whole crypto community to inform us of any scams/rug pulls/frauds, etc they might have been subjected to - with as much information as possible so we can alert our partners of the compromised wallets and attackers to limit their movementts in the crypto world.
Q5: According to your road map, There are one or two targets per quarter.
Are there any plans outside of the road map?
What is the next major task of project ?
ANS: If we compare with a lot of tokens on the top 10-50 on CMC and other listings, the reality is that most have little or no use as a token at all – and some don’t even have a product launched in the space at all – they have an idea – a vision – a maybe-prototype – and that is the sad reality – they are selling dreams/speculation. Sekuritance is different and anyone that has been with us from day 1 or interfaced with our solutions already sees it clearly. We have a roadmap – we have a plan – we have products/services people need and they are usable today! Ironically in the market one of our most used products in this space is our KYC and onboarding module but that represents 15% of our product offering with several others being more intense and technically consuming – we have PCI data vaults for storing secure data, Business onboarding automation – transaction monitoring and new products doing analysis on various blockchains being able to determine high risk or fraudulent addresses – and so much more.
That is only a snapshot – over and above – our new User Interface which will also be Wallet-integrated has balance and utilization of our tokens on the network, allowing partners to integrate their solutions and most importantly – allowing small to medium business to utilise our services on a need basis at their own will without complicated setups, etc. Last but not least – we are trying to confirm a partnership with a leading FinTech operator to utilise all our solutions for managing their business.
Follow Us On Our Various Social Media Communities For More Update;
UniSwap Trading: https://app.uniswap.org/#/swap?inputCurrency=0x887168120cb89fb06f3e74dc4af20d67df0977f6&use=V2
And also check out our website and blog for all the updates on what's coming next with Sekuritance: www.sekuritance.com
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