Late last year, prior to the massive buzz surrounding the uncertainty of virtual currencies,
ValidSoft and VEN partner to bring advanced cyber security and identity theft protection solutions to virtual currencies
ValidSoft partnered with Ven, a global virtual currency to deploy cyber security and identity theft protection solutions to virtual currencies.
Following a stringent technical evaluation process, ValidSoft was selected by Ven for its state-of-the-art, specialized purpose security architecture SMART (Secure Mobile Architecture for Real-Time Transactions) to underpin its own advanced consumer offerings in social networking and virtual exchange.
The derivative platform, known as SMARTvc, is aimed specifically at addressing inherent security needs in virtual currencies – subscription, management, administration – and ensuring the integrity of transactions resulting from the global usage of virtual currencies where authentication, privacy and/or data integrity is paramount. Ven will debut platform extensions featuring scalable security solutions later this year with an expanded set of consumer offerings with corporate partners.
“We are excited about our partnership with Ven and see incredible potential for ValidSoft solutions in the global use of Ven, the premier global virtual currency and the established leader in financial markets for hedging, carbon trading and environmental offsets,” said Pat Carroll, CEO of ValidSoft, at the time.
“We believe that virtual currencies are at an inflection point and will increasingly become an important aspect of global trading in general. Based on the wide range of uses for virtual currencies, the fraud community will increasingly focus their attention on such currencies and we believe we offer.
Ven and others the most advanced security protection available in the world today. Traditional security methods are inadequate and unsuitable for the world of virtual currencies, in particular where transactions will be increasingly carried out in the mobile world. We have customized our SMARTvc architecture for authenticating mobile payments utilizing virtual currencies transactions and we intend to become the industry leader in securing the virtual currency space.”
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