SentryCom creates IBC Foundation and invites new partners to join

IBC Foundation will promote and administer Identity-Bound Cryptocurrency (IBCoin) on the Internet, enabling, Financial Crime - Free, Society and Economy.
IBCoin concept
IBCoin concept
HAIFA, Israel - June 25, 2019 - PRLog -- Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value. Any item or verifiable record that fulfills these functions can be considered as money.
Following these definitions existing crypto currencies are no different from fiat money (including cash) and they can be used by anyone in full anonymity. This, inevitably, includes thieves and criminals.
"Financial crime causes incalculable harm around the world. The proceeds of bribery, corruption, fraud, narcotics trafficking and other organized crime have all been implicated in the financing of terrorism, human rights abuses such as slavery and child labor, and environmental crime. This has serious economic and social costs in terms of the lost revenues to national exchequers that could be invested in social development, and in terms of the impact on individual lives.
Global estimate of lost turnover as a consequence of financial crime including bribery and corruption; money laundering; fraud; theft; cyber crime; and slave labor/human trafficking just over $1.45  trillion, while Global spending on fighting financial crime is  ~$ 1 trillion (source: Refinitiv).
The cyber security companies are failing to protect our Bank Accounts and our Banks are failing to protect our Society from Money Laundering.
Fiat Money uses Banking infrastructure to provide modern medium of exchange, store of value and unit of account. Bitcoin  uses Blockchain infrastructure as medium of exchange and unit account, but fails to provide store of value due to its excessive instability. Stablecoins, such as Libra, over Blockchain, add this store of value, by pegging Stablecoin price to another stable asset. IBCoin, also a Stabelcoin, will enable a societal change via Financial Crime Exclusion element, while keeping intact all other elements.
Fiat Money, BitCoin or Libra has no limitations on money transfer. Therefore they require expensive Anti-Crime infrastructure, with low efficiency in Theft and Crime Prevention.
In sharp contrast - IBCoin imposes programmable limitations on money transfer, resulting in real-time Theft and Crime Prevention.
IBCoin, to be minted in 2019, will offer a unique value proposition:
for consumers : full theft protection and online dispute resolution,
for regulators : real-time KYC and AML,
for businesses : enabling mutual Trust and removing middlemen-creating new business models.
SentryCom will license its patented technology stack, including:
1.      TRIAD (software-hardware-cloud) crypto-wallet,
2.      Identification-as-a-Service,
3.      Cryptocurrency Blockchain architecture.
This offers Best-of-breed security:
    1. prevents phishing,
    2. prevents malware attack,
    3. prevents private-key vulnerability,
    4. prevents private-key quantum computing attack,
    5. prevents double spending.
    6. resilience to Blockchain Nodes attack/collusion.
High throughput:~1000 TPS at 5sec latency.
We are looking fo partner with:Banks, Payment Service Providers, B2B and B2C marketplaces, VCs and Blockchain developers.
For more info please visit our website

Email:*** Email Verified
Tags:Cryptocurrency, Blockchain, Crime Prevention
Location:Haifa - Haifa - Israel
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse

Like PRLog?
Click to Share