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Know About Blockchain Technologies - Shield

Check out this infographic to know about the effective application of Blockchain technology. It can drastically reduce the time, cost, and effort that financial institutions spend on regulatory reporting while also improving the quality, accuracy, and confidence of this process. Visit this link - https://bit.ly/2TskCmO for more details.

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Know About Blockchain Technologies - Shield

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  1. BLOCKCHAIN AND REGULATORY COMPLIANCE Shield FC Whereascryptocurrencymayhavecreatedtheenvironment underwhichBlockchaintechnologywasintroduced, byno meansarethesetwotechnologiescodependent. Rather, Blockchainisabyproductofpeople’sinherentinterestin streamliningtransactionsandnotstrictlylimitedto cryptocurrency. Blockchain – More Than Just Bitcoin Assoonasdataissavedintoa Blockchain, itcan’tbechangedor deletedexceptasallowedbythe chain’svalidationalgorithm. This makesBlockchainparticularly attractivetousersasamethodfor thetransferofanydigitalasset, butthisisn’tlimitedtojust bitcoinsorotherdigitalcurrencies. Blockchain and Compliance Globally, businessesspendabout $436billioneachyearon compliance. AndwithnewRiskandCompliancerules, includingKYC (knowyourcustomer) andAML (anti-money laundering), seeminglybeingdevelopedeveryday, it’sno surprisethatI’moftenaskedabouthowcompaniescangeta leg-upontheincreasinglycomplexregulatoryenvironment. Blockchain and Regulators Blockchaintechnologiescanimproveprivateregulatory compliance, buttheBlockchaincanalsohelpregulators. This ispossiblebecauseBlockchainlendsitselftothe improvementofcomplianceprocesses, asitcanbeusedto helpcomplianceofficerskeeptrackofthestepsrequiredby complexregulations. Yoseph Elkaim ACAMS isaninternationallyrecognized complianceauthority, webshowhost, author, andkeynote speakerintheareasofNationalSecurity, Corporate Corruption, FinancialCrimes, Sanctions, MoneyLaundering, CyberSecurity, andBusinessRisk. https://www.shieldfc.com/

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