Today I attended a presentation by IvyKoin where they firmly convinced me that their business strategy will lead them to become the primary coin that banks will want to implement alongside their systems.
IvyKoin is specifically aimed at bridging the divide between banks, cryptocurrency, and customers. They aim to facilitate secure and transparent business payments on a global scale which existing products do not completely fulfil.
The issue that IvyKoin aim to solve is creating a cryptocurrency which banks will adopt because its adheres to their strict regulations such as KYC. IvyKoin will produce a cryptocurrency that contains secured data which banks will be able to use and determine whether the transaction fits within their guidelines. This is an issue that ripple does not solve. IvyKoin aims to de-anonymize transactions to satisfy the financial institution's rules.
Major advantages that IvyKoin have over ripple is that they are:
- Their technology will overcome KYC/KYT?AML barriers between cryptocurrency and the traditional financial system
- They have 74+ KYC, 120+ KYT data points and customer files per transactions (ripple has no KYC/KYT data assigned to transactions)
- They have a decentralised system of transaction validation (ripple is centralised)
- The public coin economics is driven by utility of the coin and is on a transparent ledger (ripple is privately held and not transparent)
IvyKoin also has a first class team backing this project including:
- Ash Shilkin - CEO of Change Financial Limited, he has extensive knowledge of the banking industry
- Michael Beck - 20 years experience in relation to business strategy and technology. He was the lead entreprise architect for a Fortune 500 company
- Gary Fan - A banking executive who contributes his extensive knowledge of the industry including his diverse banking relationships
- Andrew Pipolo - Former CEO of Paypal Australia/Japan has providing a keen perspective on the future of transactions that include cryptocurrency and his contacts in the industry will further support IvyKoin's growth.
All in all, the presentation was impressive. The team knew their tech and their market. I am bullish on this coin so I would recommend you all research into it and let me know what you think!