Our fundamental purpose involves thoroughly examining regulations to combat money laundering and financial fraud. As we identify the challenges banks and other institutions face, we address these issues by leveraging the capabilities of blockchain technology. Our comprehensive research aims to enhance financial transparency, minimize risks, and improve compliance.
Research Papers
KYCrypto
The regulatory team proposed a solution called KYCrypto to combat money laundering through blockchain. This solution provides a holistic concept that links regulatory processes to a cryptocurrency. Further, the paper introduces a smart contract corresponding to the Ethereum Request for Comment 20 (ERC-20) standard. The smart contract provides tokens for whitelisted customers and enables AML prosecution through its blocking function. The oracle is the bridge between off-chain and on-chain processes. Thus, KYCrypto combines the advantages of the traditional banking system with the potential of blockchain technology, leading to an approach to regulate the environment within the blockchain.