SmartDec Gets Approval to Join Blockchain Association by the Financial Commission Board
SmartDec is the latest firm to get approval for joining the Blockchain Association. The Tech consultancy oriented firm provides services such as cybersecurity and software development. This firm will now be part of the Digital currency firms following the go-ahead given by Financial Commission board.
The move to join the Blockchain Association is a big plus for the fundamental value of SmartDec within the crypto arena. One notable advantage is the ease of resolving disputes which will now be free from 3rd parties such as market intermediaries and authorities. Therefore, the costs needed for arbitrating is cut down by a huge percentage in the future.
Blockchain & crypto tech has become an area of interest for financial market participants, especially within the past 2 years. These innovations are presenting solutions for the financial services sector making it hard to ignore the possibilities the Decentralized Applications may bring along.
Given the diverse nature of crypto and blockchain services, a good number of firms have emerged with different roles to complement growth of digital assets. SmartDec, for example, focuses on cybersecurity hence its operations in private oriented tech developments. The company conducts research and audits on products such as Ethereum’s smart contracts to enhance the security of blockchain ecosystems.
Blockchain Association supported this move by SmartDec and said that it comes with a couple of benefits for the firm. SmartDec will be able to leverage information from other members to enable them to tackle internal development issues. Furthermore, regulatory and compliance issues are addressed by qualified experts within the Association giving members ample time to navigate International markets.
The New DisputeWatch Product For Curbing Crypto Fraud
Blockchain Association members can now halt transactions they suspect to be fraudulent within their ecosystems. This follows the introduction of ‘DisputeWatch tool’ as a product to facilitate the overview process. Digital asset brokers can easily access their customer’s transaction records for any irregularity that may have occurred before. Therefore, they will be empowered to report clients who seem to have ulterior motives to the member associates. SmartDec will now enjoy this protection by accessing information about potential fraudsters as well as sharing the ones they may have encountered.
At the moment, this tool has been integrated with a couple of brokerage service providers that include FX brokers, Amana Capital, CAPXM, INFINOX, ADS Securities and One Financial Markets. These exchanges can also use DisputeWatch for price comparison analysis to enter the best trades.