QLC Chain to launch the Blockchain Based Antifraud Message Tracker Platform on the World Telecommunication Day
To help enterprises and telcos preventing telemarketing scams
On May 17th, the QLC Chain will launch its antifraud message tracker, and conduct a live demonstration of the platform at “Antifraud & Message Traceability Public Interest Platform Launching Event” . The event has invited leading enterprises, financial institutions and communication service providers in Greater China. The platform, which is fueled by Q-Gas, is available for commercial usage immediately after the live demonstration. QLC Chain is one of the earliest Blockchain projects that have tangible adoptions across telcos and enterprises. Most importantly, this public interest value-add service brings crucial value to society, providing the tool to fight against telemarketing scams.
The platform is launched for enterprises who have Application-to-Person (A2P) messaging requirement. For example, the banks who are sending transaction authentication number; exchanges sending verification message; 2FA confirmation from websites, games or other services; retailers sending promotional messages. The live demonstration will show how enterprises use this platform to record and track their messages, also show how customers examine if one message is indeed from the enterprise it claims.
Most of the times, they are bearing the risks that their customers may be scammed. The scammers use pseudo base stations and ask customers to transfer money to a “safe account”, click on a link to collect “awards”, pay for a “utility bill”.
Taking the UK as an example, according to UK Finance data, these kinds of scams in the UK are rising in both volume and value. Indicatively there was an increase of as much as 93% in volume when comparing data from 2017 and 2018, and resulted in 354.3 million pounds lost, which equals to the annual GDP of the Philippines in 2018.
The antifraud traceability platform can provide a trusted environment for communication services to prevent SMS fraud, telephone fraud, and website content fraud. Through the distributed consensus mechanism of blockchain, QLC Chain provides a trusted service, not tampering, and not relying on single-node.
The event is organized by Montnets, together with China Association of Communication Enterprises. Montnets is Shenzhen Stock Exchange listed company, with a market value of 10 billion RMB. It is the leading cloud communication provider in China with clients including Alibaba, Baidu, Tencent, Bank of China, Ping An Insurance Group, China Merchants Bank and more.