• 21 July 2021
  • 11.5 mins
  • 879 views

Last Thursday, July 15,  we held an AMA on our WeChat channel with Jonathan Camilleri Bowman – Project Visionary of Sekuritance for our Chinese community to ask questions regarding Sekuritance’s product suite and plans. 

We would like to thank everyone who joined us and for sending out some questions. If you’d like to know more about what we’ve talked about, read on below to see the things we covered during the AMA. 


AMA Questions

Q1: Would you be able to explain how Sekuritance came to be? 

Sekuritance started to solve the internal compliance and regulatory framework in the other companies I manage – namely in banking, credit card processing, and foreign exchange management. Each one needed several suppliers to do all sorts of checks on the individuals/companies themselves and all the transactional related bits – such as geo-IP checks, device checks, high-risk checks, chargeback checking, blacklists, etc.

It was a nightmare to control them all, so we wanted to create a go-to solution where a startup or a multinational conglomerate can integrate and join the dots for all their RegTech and risk tech needs. Nowadays, fancy words like FinTech, RegTech, RiskTech, and others appear on the market, and they are definitely the way forward – we are fortunate enough to exist in all. Putting it simply – if any piece of software or service solves a regulatory issue (like a compliance check or a politically exposed person check, etc., they form part of a RegTech solution – which is a very vast term and has loads of uses)

Anything offering a solution to understand, minimize, and report on a risk factor in the business is encapsulated in a risk tech suite – and similar for transactions – an online bank app would be part of a fintech suite.

Q2: Where do you see the RegTech sphere evolving?

In rapid technological innovation, financial institutions are compelled to adhere to regulatory compliance for the financial institution, growing faster. In this case, institutions rely on technological firms that are reciprocating solutions at a higher pace. In addition, Sekurtance recognizes that emerging technologies like artificial intelligence and machine learning are witnessing practical application. 

Furthermore, multiple specialized and boutique firms offer domain-specific solutions to deploy use cases against different players who deploy artificial intelligence and machine learning as a platform. However, financial institutions are faced with the threat of making losses due to financial crimes. This trend is growing at a very rapid rate. Notably, fraudsters are being innovative by employing new and sophisticated technologies to improvise their hacks. With their innovative nature, Sekuritance understands that there is a need for a solution where technological advancements have to be used to fight fraud in the financial sector by enabling early identification of fraudsters beats modus operandi.

Sekuritance offers a one-stop solution through KYC, KYB, KYT, AML, Sanction Screening, and rule engine applications. Sekuritance RegTech helps get transaction and IP risk scores data for analysis and workflows, and subscores that form the components of a transaction risk score. The solution helps in understanding the reasons motivating the risk of a transaction to assess fraud better.

Q3: What are the future plans for the platform and products?

If we compare with a lot of tokens on the top 10-50 on CMC and other listings, the reality is that most have little or no use as a token at all – and some don’t even have a product launched in the space at all – they have an idea – a vision – a maybe-prototype – and that is the sad reality – they are selling dreams/speculation. Sekuritance is different and anyone that has been with us from day one or interfaced with our solutions already sees it clearly. We have a roadmap – we have a plan – we have products/services people need, and they are usable today! Ironically in the market, one of our most used products in this space is our KYC and onboarding module but that represents 15% of our product offering, with several others being more intense and technically consuming – we have PCI data vaults for storing secure data, Business onboarding automation – transaction monitoring and new products analyzing various blockchains being able to determine high risk or fraudulent addresses – and so much more.

That is only a snapshot – over and above – our new User Interface, which will also be Wallet-integrated has balance and utilization of our tokens on the network, allowing partners to integrate their solutions and, most importantly – allowing small to medium businesses to utilize our services on a need basis at their own will without complicated setups, etc. Last but not least – we are trying to confirm a partnership with a leading FinTech operator to utilize all our solutions for managing their business.

Questions from the audience

Q1: Does Sekuritance have any plans for the Chinese market in the future?

We are following the rules and regulations per country rigorously. We ensure that Sekuritance as a platform, via its product suite and token, follows everything necessary to keep up to its name and position in the market as a RegTech and RiskTech provider to the blockchain industry and other sectors as well. We have plans for the region, and we will continue to see how we can reach those goals as per the rules and regulations in that specific market. 

Q2: What happens to the tokens in the gate.io pool after it ends?

With regard to GATE.IO pools and token releases, it is best to contact GATE.IO directly. 

Q3: What are some of the existing problems Sekuritance sees in the industry, and are there any solutions?

There are a lot of issues to be solved in the industry; we needed to build and use so many different solutions each time to fight fraud, check for money laundering concerns, checks whitelists, blacklists, pep, sanctions, screening, 3D secure, check ETH address for mixing and privacy, etc. and so many rules on the transaction itself — it was crazy. 

Crazy but super important to keep a business afloat, regulated, and compliant with the guidelines issued by the various authorities. So Sekuritance was born out of a need to streamline these solutions and help businesses and projects worldwide who will face these issues now and in the near future for sure – especially with the way things are going in this space.

Q4: Does Sekuritance have plans on launching on any other platforms in the future?

We have many plans, and have a hard-coded roadmap you can see on sekuritance.com. We have a solid roadmap devised quite a while ago. We are over-delivering, which we are super happy about – however we continuously work with our community to amend our deliverables to reflect what the business needs.

We have just finished our community Alpha Testing and launched our new Token Investor Onboarding solution. The results are remarkable – never have I seen a product delivering what we deliver to our merchants, and the feedback has been just great.

One thing to watch out for towards the end of August is our new User Interface which is bringing together all our products under one platform and consolidating with the Unique Identity Management Solution. I would recommend following our socials both in Chinese and English to keep up to date with all that’s coming for the rest of the year and more! 

Q7: What is Sekuritance? How will it revolutionize the blockchain industry?

Our solutions were built-in layer two traditional technology with REST-based APIs connecting to a plethora of different providers – each specialized in their niche – some KYC, some KYB, some geo-IP checking, some device-id checks, blacklists, etc.

We are focusing on our UI functionality and have a solid roadmap to bring to our users – mainly around not having to go through the same laborious KYC each and every time – sometimes 2-4 times a week and give more control back to the users in terms of where their data is going and how it is checked and by whom. 

The blockchain element is that the SKRT economy will power the network. All the Sekuritance services are tokenized, so you don’t only get access to the service. Still, you also get to participate in our b2b and affiliate programs by partnering up with us to either bring in additional users to the platform or even if you have a solution that you think compliments the platform and you would like to reach out to all our users and offer it through. We are a business enabler.

The market is full of individual solutions targeting mainly the FIAT market, but we have yet to find one like ours which not only bridges the two financial realms but also is more individually inclusive as a solution while bringing all partners under one roof to deliver a mhole solution –  true Regulatory and Compliance and Risk one-stop-shop.

Q8: What are your views on the current blockchain market?

The market is an unpredictable beast and in our, opinion many factors influence its direction – some depending on sentiment, analytical and charting, and we also have the added phenomena of an influential character in the world who seems to have a lot of weight in moving that sentiment in different directions – not to mention all the regulatory challenges and conflicting information coming out of varying countries – so on pricing, etc. – it is difficult to comment, and we see past it. 

So in addition to answer your question on how can we beat the bear – we see past market pricing and only look at our solutions, mass audience adoption, and more – we have been very fortunate to hit the ground running and are one of the few crypto projects that from Day 1 (actually earlier) of launching our token – we are in revenue earning state – we keep onboarding new launchpads, new tokens, new clients and new strategic partners – and we are confident that with the roadmap we have and what we are delivering to the market we have what it takes to weather this sentiment storm and everyone that backs us now will be reaping the benefits in the months and years to come – over and above.

We are not a one-hit-wonder company – our roadmap is solid – we are delivering new solutions to the market as we go along – have a lot of interested parties – and one thing we are looking at is how to onboard mass adoption quicker as opposed to single clients every week to gain more and more traction – we have several go-to-market avenues to explore, and that is exactly what we are doing – we believe heavily in community support and new leads introduction and compensate such activities heavily.

Q9: How do you make yourself stand out in the market?

Our solutions were built-in layer two traditional technology with REST-based APIs connecting to a plethora of different providers – each specialized in their niche – some KYC, some KYB, some geo-IP checking, some device-id checks, blacklists, etc.

We are focusing on our UI functionality and have a solid roadmap to bring to our users – mainly around not having to go through the same laborious KYC each and every time – sometimes 2-4 times a week and give more control back to the users in terms of where their data is going and how it is checked and by whom. 

The blockchain element of it is that the SKRT economy will power the network. All of the Sekuritance services are tokenized, so you don’t only get access services. Still, you also get to participate in our b2b and affiliate programs by partnering up with us to either bring in additional users to the platform or even if you have a solution that you think compliments the platform and you would like to reach out to all our users and offer it through. We are a business enabler.

The market is full of individual solutions targeting mainly the FIAT market,t we have yet to find one like our which not only bridges the two financial realms but also is more individually inclusive as a solution while bringing all partners under one roof to deliver a qualifying –  true Regulatory and Compliance and Risk one-stop-shop.

Q10: What is the usage of SKRT tokens?

We have been fortunate to have good participation in May and liquid to support our delivery and operations teams for the upcoming future, and we still have a lot up our sleeve. We have institutional fiat investors looking at our solution and interested in several investment opportunities, but we are keeping our options open for the right time.

It is never too late to get involved in SKRT and Sekuritance, that is for sure – and the only place to buy is on the open market. Holding SKRT is the only way to be eligible to utilize the product, services, and opportunities that Sekuritance is bringing to the table. Most importantly, it is the only way to be eligible for the partner program, affiliate network, and introductory bonuses. These are just to mention a few. We also have a few new updates you may see here on holding SKRT benefits: https://sekuritance.com/2021/07/19/update-new-utility-for-skrt/ 


We would like to thank Jonathan for giving his time to answer these questions about Sekuritance’s product suite and plans, and thank you to our WeChat community as well, for taking the time to know more about Sekuritance. Want to get updated with the latest announcements and events we have in store? Follow our socials!

About Sekuritance

The Sekuritance RegTech platform provides a single platform for every eGRC need, including end-to-end AML/CTF, CECL, FCPA, vendor management, beneficiary onboarding, investor check, card processing MFA checks, blockchain wallet checks, cyber-risk assessments, and other RegTech or Business Process Management requirements.

Stay tuned for more info and follow us on:

Twitter: http://twitter.com/sekuritance

Telegram: http://t.me/sekuritance

Website: https://sekuritance.com

Back to Blog