Sentinel Protocol Secures Partnership with Bizkey, a Crypto Payment Solution Provider
Singapore, March 1, 2019 — Sentinel Protocol announces a new partnership with Bizkey, a crypto payment solution provider. This partnership continues the integration of Sentinel Protocol’s various security offerings that include the crowdsourced Threat Reputation Database (TRDB) and a crypto scam protection solution, the Interactive Cooperation Framework API (ICF API). These will help e-wallet users identify and report malicious wallet addresses and fraudulent activity. Sentinel Protocol’s blockchain-based Threat Reputation Database (TRDB) collects data from distributed sources including cryptocurrency exchanges, wallets, payment services, IT and security companies. The TRDB also crowdsources threat data procured from collective intelligence.
The agreement is in response to Singapore’s ‘Payment Services Bill’ that outlines regulations for payment accounts or any service dealing with payments.[1]
“Money laundering is attracting attention from regulators and law enforcement agencies in the crypto space. In our efforts to combat money laundering, we will support regulators and law enforcement using crowdsourced security intelligence stored in the TRDB. In addition to using the ICF API to detect potentially malicious transactions, our future goal is to integrate Sentinel Protocol’s crypto transaction tracking and wallet risk scoring tools.” Patrick Kim, CEO and Founder of Sentinel Protocol. “Recently, we launched the Uppsala Security Forum, a community for sharing educational information about blockchain security, and a technical forum to exchange knowledge on security-related insights.”
“We will set the best practices in meeting AML and CTF requirements, managing technology risk, and creating user protections,” Ken Huang, CEO of Bizkey, said.
Bizkey is a pioneer for real-world crypto transactions in Singapore. In January, Bizkey facilitated the first auto purchase in Singapore that was made in cryptocurrencies. Bizkey also partnered with SK Jewelry, a publicly listed company, for a crypto payment campaign.[2] Last November, Bizkey ran a campaign in Singapore’s Chinatown area allowing 30 local merchants to accept payments in ten different types of cryptocurrencies.
About Sentinel Protocol
Sentinel Protocol is the world’s first crowd-sourced threat intelligence platform utilizing the advantages of decentralization to protect cyberspace with blockchain security. It aims to equip individuals and organizations with cybersecurity solutions that help protect their valuable cryptocurrency assets from malicious threats, attacks, and fraudulent transactions. Sentinel Protocol is headquartered in Singapore and has offices in Seoul, South Korea and Tokyo, Japan. Follow Sentinel Protocol on Telegram, LinkedIn, Twitter, Facebook, and Medium.
About Bizkey
Bizkey is a smart blockchain-based payment platform that supports a variety of powerful applications to streamline retail and re-integrate merchants into the increasingly digital economy. Bizkey is also the organizer of Singapore’s ‘Token Day’ and the payment solution of choice for the first vehicle purchase using Ethereum in Singapore, a transaction reported widely across mainstream media. Follow Bizkey Network on Telegram, Linkedin, Twitter, Facebook, and Medium.
[1]http://www.mas.gov.sg/~/media/MAS/News%20and%20Publications/Press%20Releases/Annex%20Payment%20Services%20Bill%20Explanatory%20Brief.pdf
[2] https://www.businesstimes.com.sg/companies-markets/sk-jewellery-plans-to-accept-cryptocurrency-retail-payments
