Home / Crypto Currency / Orderbook Introduces One-Of-A-Kind ‘Regulation Aware Protocol’ for Tokenized Securities

Orderbook Introduces One-Of-A-Kind ‘Regulation Aware Protocol’ for Tokenized Securities


Advertisement
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

Bitcoin Press Release: In response to the recent regulatory guidance concerning token sales, Ambisafe has created an innovative self-regulating token class to assist with the management of securities on the Ethereum blockchain.

March 9th, 2018, San Francisco, CA – Orderbook by Ambisafe has created a unique Regulation Aware Protocol (RAP) token which uses a whitelist to keep track of who is allowed to buy, sell, and trade each asset.

Token sales have drawn the attention of regulators around the world, with different countries releasing their own guidance on how offerings must be handled within their jurisdiction. The result is that regulatory parameters for coin offerings are far from universal.

This is a problem for project founders, who have to be mindful of the different regulations participants must follow. Examples of rules that must be followed are Know Your Customer (KYC) and Anti Money Laundering (AML).

Assuring Regulatory Compliance Regardless of Jurisdiction

RAP tokens have been developed by Orderbook.io to make this issue a problem of the past by utilizing smart contracts to check and respond to the permissions of every person who attempts to use them in a transaction. If a user who does not meet the proper compliance level attempts to buy a token , the relevant smart contract compares their permission level against an internal database, and instantly restricts their account from completing the purchase.

The Regulation Aware Protocol does more than allow creators to craft tokens that meet diverse regulatory requirements, however. It also introduces vast improvements to the general user experience by not requiring contributors to re-submit their credentials every time they join a new token sale. If this information is kept up-to-date within the RAP database, they will be able to freely interact with any sale that matches their level of compliance.

“We have created RAP tokens to be the perfect instrument for a new generation of financial innovation. We believe in the migration of financial markets to this new technology in the near future. It is a big step for Orderbook, and a huge leap for Blockchain technology.” expressed Andrii Zamovskyi, CEO of Orderbook and founder of Ambisafe

Currently, Orderbook is the only exchange that creates and supports the necessary registries of verified Blockchain users, storing them in a specialized smart contract. As the technology progresses, the benefits of maintaining verified user databases will become increasingly valuable, leading to more providers incorporating RAP tokens into their platforms.

For more information on Orderbook visit: https://www.orderbook.io/#/
For more information on Ambisafe visit : https://www.ambisafe.co/

Media Contact Details
Contact Name: Karla Vilhelem
Contact Email: [email protected]

Disclaimer: THIS PRESS RELEASE IS FOR INFORMATIONAL AND DISCUSSION PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE THE SOLE BASIS FOR ANY EVALUATION OF A TOKEN PURCHASE OR ANY ASPECT OF THE CRYPTOCURRENCY, TOKEN SALE, SECURITIES, OR COIN SALE MARKET. IT IS NEITHER AN OFFER TO SELL NOR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN THE UNITED STATES OR ELSEWHERE. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE LEGAL OR INVESTMENT ADVICE AND IT IS THE RESPONSIBILITY OF ALL PROSPECTIVE PARTICIPANTS TO CONSULT WITH THEIR OWN LEGAL, TAX, ACCOUNTING, AND INVESTMENT ADVISORS TO DETERMINE THE POTENTIAL BENEFITS, BURDENS, AND CONSEQUENCES OF SUCH A PURCHASE.

Orderbook is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Read more

Check Also

The Jigsaw Ransomware Has Been Revived to Steal Bitcoin from Unsuspecting Users

The Jigsaw malware is back and it is ready to steal Bitcoin from consumers once again. Jigsaw is Back to Scare Bitcoin Users ZDNet recently reported that the “Jigsaw” ransomware has recently been revised by hackers to steal Bitcoin from unsuspecting users through a “simple-but-effective trick.” According to the technology news source, Jigsaw first appeared in the cryptocurrency scene in April 2016 as a form of ransomware, holding the files and information of users hostage until a ransom of Bitcoin was paid. The reason why it is named Jigsaw is due to the fact that the piece of code displayed the likeness of the Saw horror film villain. However, with this most recent revision, the ransomware has been re-purposed to steal Bitcoin in a fairly innovative and non-intrusive manner, modifying the addresses inputted by a user. Once the piece of malware alters an address, the Bitcoin payment will then be redirected to the hacker’s wallet, resulting in lost crypto for the victim. Jigsaw, or “BitcoinStealer,” as it is known by references in the code of the program, accomplishes this by altering Bitcoin addresses in someone’s clipboard, or the area where copied pieces of text lie. However, the ingenuity of the program does not stop there, as BitcoinStealer is able to the intended address of the payment to one that looks very similar, using a program such as VanityGen to trick the user into thinking the hacker’s address and the original address are one and the same. Image Courtesy of Fortinet This ingenuity has proven to be rather successful, with researchers from Fortinet, who first broke the news about Jigsaw, saying that cyber attacks utilizing this method have garnered over 8.4 Bitcoin, or approximately $61,000 at current market prices. Fortinet also discovered that there were many similar projects for “modifying cryptocurrency addresses” being advertised on dark web forum sites, presumably by hackers enlisting the same method of attack. Crypto-Related Cybercrime is Still Prevalent Despite Price Decline However, this method of cybercrime, which the cyber researchers called the “clipboard-substitution malware family,” was not mentioned in a recent threat report from the cybersecurity firm Malwarebytes. According to the report released on July 17th, ransomware and cryptojacking were by far the primary sources of crypto-related cybercrime, with “cryptominers continuing to dominate” the threat landscape. Despite starting to slow down due to declining cryptocurrency prices and mining profits, the Cybercrime Tactics & Techniques Report for Q2 2018 still found that cryptominers are as prevalent as ever, noting: “Cryptomining detections are slowly declining; however, as one of the top two detections for both businesses and consumers, they still dominate the threat landscape” Nonetheless, moving into Q3 of 2018, Malwarebytes expects for cryptojacking cases to slowly fade, as cybercriminals follow the industries where they can make the biggest profits. The security firm wrote: “Ultimately, many criminals aren’t getting the return on investment (ROI) from cryptomining they were expecting. The cryptojacking craze will likely stabilize as it follows market trends in cryptocurrency… Until changes in the cryptocurrency market cause a spike or swift downturn, expect to see cryptomining hum along at its current slower pace into Q3.” It is likely that the propagation of clipboard-substitutions will become a growing threat for cryptocurrency users moving into the future, as it is a much more reliable, non-intrusive and profitable way for hackers to get their hand on consumer crypto. So watch out, double, triple or even quadruple check the address when you send your next Bitcoin transaction. Featured image from Shutterstock. The post The Jigsaw Ransomware Has Been Revived to Steal Bitcoin from Unsuspecting Users appeared first on NewsBTC.

Leave a Reply

Your email address will not be published. Required fields are marked *

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.