Belfrics - Securely Moving Crypto Assets with Futuristic KYC Based Blockchain

CIO Vendor Blockchain is a trending technology that is revolutionizing the business world. Entities are participating in blockchain transactions to ensure secure, transparent and decentralized deals. However, the technology is relatively new and is still evolving. Sustainability of these major blockchains to run smart contracts with impenetrable security features remains the topmost concern. Another principal challenge associated with this technology is the lack of awareness of the workings of this technology especially in sectors other than banking. It has been estimated that a blockchain is majorly about business process change than about the implementation of the technology. Cost, regulation, and governance are few of the other challenges encountered. Headquartered in Malaysia with offices in Bangalore, Singapore and Nairobi, Belfrics offers a suite of comprehensive blockchain technology solutions with their new novel initiative Belrium which is the 1st KYC based blockchain. “Our KYC based blockchain, will be a key instrumental aspect for regulators to design and effective regulatory framework for crypto exchange firms and blockchain based transactions,” reveals Praveen Kumar, Founder and CEO, Belfrics.

Belfrics DSO (distributed shared order) network extends a robust pool of liquidity between Belfrics users across a broad range of countries to trade with each other seamlessly. The company has established a strong presence in Asia, Asia Pacific, and Africa. The company leverages this positioning to move crypto money between the aforementioned regions seamlessly and effectively at a fraction of the current transaction cost. Furthermore, the company is involved in fintech and non-fintech blockchain development application in these regions as compared to other vendors in the market segment.
With deep knowledge in the trading industry, the company’s team of financial trading professionals developed a crypto-currency wallet that ensures top-notch security. The wallet is designed with an automatic deep freeze storage which is remote and secure. Praveen adds, “Customers will now have a complete audit trail of their transactions through our exchange, which will enhance the fight against money laundering through crypto currencies and we have deployed leading online security firms to safeguard our crypto wallets.”

In addition to this, the company intends to transition from a centralized exchange model to a hybrid exchange model wherein all wallets will be carrying multi-signature options.

Belfrics offers a suite of comprehensive blockchain technology solutions with their new novel initiative Belrium which is the 1st KYC based blockchain

With the ubiquity of smart phones, the company envisions launching the Belfrics Mobile debit card solution by mid of 2018. The solution will be enabled with an instant payment option through the Belrium blockchain for BEL coins. In conjunction with this, the solution will also be supporting other major cryptocurrencies like BTC and ETH in the near future.

Established in 2014, the company has made rapid progress in this domain and envisions the Belrium blockchain to be the key standard for KYC management for global users. Endeavouring to attain a leadership position in this technology space around the globe, Belfrics envisages moving millions worth of crypto assets at any given point in time.