Using AI and blockchain for financial security and payments, exciting alliance between TheVault and NEM – Irish Tech News

Exciting news for TheVault Ltd who have secured an interesting partnership with NEM, the smart asset blockchain who provide a world class platform for asset management.

“Consumers will have the protection they expect from traditional on-line banking” TheVault co-founder, Dannie Francis

TheVault will build an Artifical Intelligence (AI) driven blockchain for NEM, who are a great option to partner with due to their own deep experience in fintech, financial payments and trades. Partnering with NEM is a logical and smart strategic move for TheVault as it will enable them to leverage and draw on NEM’s experience as well as the excellence of their own inhouse team as well.

In this age of increasing complexity it makes sense to seek out strong partners to work with as they can deliver solutions and insights far faster and more effectively than is always possible within your own team. NEM have already built up a comprehensive range of insights from growing a wide network of users, with all the benefits that an extensive range of data can bring you.  Partnering with NEM will  enable The Vault to push the ability blockchain performance to greater heights too. NEM’s blockchain platform was designed, built and then coded from the ground up to achieve optimal scale and speed. The creation of a permissioned private blockchain by NEM enables them to deliver industry-leading transaction rates for internal ledgers. As well as this, having their revolutionary consensus mechanism allied with the Supernode program all help to ensure that NEM’s open, public blockchain can grow without compromising throughput or stability, which is a very important consideration.

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“We’re glad that TheVault Ltd has chosen to partner with NEM Malaysia and utilize the NEM Blockchain. Their addition to our family projects highlights why NEM Blockchain is one of the best platforms for projects to be developed on

NEM Malaysia’s Director of Investments and Strategy, Jasmine Ng.

“The versatility, performance, and protection provided by NEM Mosaics is exactly what an application like ours requires,” Jeff Middleton CTO, TheVault.

TheVault Ltd will develop the  consensus network as well as an AI fraud detection system. This is to help protect all users by ensuring that cryptocurrency transactions are protected from any errors or theft by hackers or unintended users. As well as this all transactions are monitored by the consensus network to deliver another level of protection and security.

TheVault Ltd’s solution will be focussed around 3 key areas

Firstly. The AI-powered, Hybrid-Fraud Detection Solution (HFDS) whose AI-machine learning is at the core of the platform.

Secondly. The consumer-based software security to deliver trusted partners with security for their consumer applications.

Third. A unique Vault consensus protocol with a consortium of trusted partners collaborating to protect and secure the platform.

TheVault Ltd  will provide this solution to crypto exchanges at no charge. The partnership will see TheVault Ltd develop the consensus network at NEM’s Blockchain Center in Kuala Lumpur, joining over 100 decentralized application (DApp) projects developed on the NEM Blockchain.

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About NEM Malaysia

NEM Malaysia is a fully owned subsidiary of the NEM Foundation. The Foundation is a technology organization which exists to support and commercialization the NEM blockchain platform. NEM blockchain is one of the pioneers of open source & blockchain technology that is used by enterprises, universities, and governments utilizing advanced cryptography in executing transactions that spans across the internet. NEM Foundation is represented in multiple countries and in Malaysia, NEM Foundation represents a diverse and dynamic ecosystem which includes everything from startups working on the future of digital storage, to public universities setting up blockchain research groups, to public listed companies piloting blockchain transformations of their existing processes.

About TheVault Ltd.

TheVault Ltd was established to protect Exchanges and Consumers with a solution that they can trust and drive the usage of cryptocurrencies with guaranteed security. Its solution is claimed to be the world’s first AI-powered blockchain solution for secure financial payments and trading.

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