TheVault Ltd. To build NEM Blockchain based AI-powered blockchain solution for secure financial payments and trading
NEM Malaysia and TheVault Ltd. Partner to Raise the Trust of Crypto Currency Consumers
KUALA LUMPUR, 1 FEBRUARY 2019 – NEM Malaysia is pleased to announce that it has signed a strategic partnership with TheVault Ltd, an Artificial Intelligence (AI) powered blockchain solution for secure financial payments and trading.
TheVault Ltd is currently developing a consensus network and an AI fraud detection system that will protect cryptocurrency transactions from error and theft. Additionally, transactions monitored by the consensus network will be guaranteed.
TheVault Ltd’s solution is based on three key strategic pillars.
- An AI-powered, Hybrid-Fraud Detection Solution (HFDS) whose AI-machine learning is at
the core of the platform. 2. Consumer-based software security that provides trusted partners with security for their
consumer applications. 3. A Vault consensus protocol with a consortium of trusted partners collaborating to
protect and secure the platform.
TheVault Ltd plans to provide its solution to crypto exchanges at no charge.
“Finally, consumers will have the kind or protection that they expect from traditional on-line banking,’ says TheVault co-founder, Dannie Francis on what the company’s solution offers.
The partnership will see TheVault Ltd develop the consensus network at NEM’s Blockchain Center in Kuala Lumpur. It will also allow them to leverage NEM’s global exchange partners and ecosystem, joining the more than 100 decentralized application (DApp) projects that have been developed based on the NEM Blockchain.
“The versatility, performance, and protection provided by NEM Mosaics is exactly what an application like ours requires,” says Jeff Middleton CTO at TheVault.
“We’re glad that TheVault Ltd has chosen to partner-up with NEM Malaysia and utilize the NEM Blockchain in the development of their solution. Their addition to our family projects further highlights why the NEM Blockchain is one of the best platforms for projects to be developed on,” added NEM Malaysia’s Director of Investments and Strategy, Jasmine Ng.
About NEM Malaysia
NEM Malaysia is a fully owned subsidiary of the NEM Foundation. The Foundation is a technology organization which exists to support and commercialization the NEM blockchain platform. NEM blockchain is one of the pioneers of open source & blockchain technology that is used by enterprises, universities, and governments utilizing advanced cryptography in executing transactions that spans across the internet. NEM Foundation is represented in multiple countries and in Malaysia, NEM Foundation represents a diverse and dynamic ecosystem which includes everything from startups working on the future of digital storage, to public universities setting up blockchain research groups, to public listed companies piloting blockchain transformations of their existing processes.
About TheVault Ltd.
TheVault Ltd was established to protect Exchanges and Consumers with a solution that they can trust and drive the usage of cryptocurrencies with guaranteed security. Its solution is claimed to be the world’s first AI-powered blockchain solution for secure financial payments and trading.
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