Welcome to the Sekuritance Live AMA with TGH! We'd like to thank the team for attending today and sharing info with the community 😁
Here's a message from Sekuritance's CEO, Jonathan Camilleri Bowman, introducing himself to your awesome community!
Brilliant intro, lets jump in!
To start this AMA off, we’d love to hear an overview of Sekuritance and what you guys are all about! What’s the vision behind the Sekuritance protocol?
Before I get to that I will briefly introdue myself to give the community a better idea of where we are coming from and where the idea stemmed from
i'm a software engineer by profession and built several companies in the past in various verticals including pubblic sector, oil&gas, gaming, etc - but always on the software side of things
been in the fintech space for 14 years now and blockchain for 5
my other enterprises all focus around banking facilities, credit card acquiring solutions, credit card issuing solutions, etc always on the fintech side of things -
to keep those companies always above board and in compliance, loads and loads of internal checks and balances have to be done consistently and in real time -
that is where the idea of Sekuritance came along - and the team working with my on Sekuritance are seasoned professionals with varying skillsets
my right hand man - Mr. Jan Gatt is our CTO and we have worked together for years on various solutions - we have our own internal blockchain legal associate, MLRO for risk and compliance and a full development team amongst others.
In our other solutions, we needed to build and use so many different solutions each time to fight fraud, check for money laundering concerns, checks whitelists, blacklists, pep, sanctions, screening, 3D secure, check ETH address for mixing and privacy, etc. and so many rules on the transaction itself — it was crazy.
Crazy but super important to keep a business afloat, regulated and compliant with the guidelines issued by the various authorities. So Sekuritance was born out of a need to streamline these solutions and help businesses and projects around the world who will face these issues now and in the near future for sure – especially with the way things are going in this space.
I imagine doing the checks and balances and ledgers by hand would be a pain 😅😅
Next, could you share some info on the team behind the project? What experiences do you have prior that shows you can achieve the goals you’ve laid out? You already introduced yourself and your CTO, anyone else you want to introduce before we go on?
I am very happy with the core team that started all this journey and with the specialised talent we have been adding laong the way. we are a fully audited company, non-anonymous team an very transparent of our resources. Since our launch we have brought onboard top talent but not only in the blockchain space - but also from other traditional markets. We have a full suite of C-level indivuduals driving the organisation forward and also double checking each other and also a number of other individuals contributing with their skills - such as backend developers, devops, frontend, business analysts, compliance officers, strategy and partnership management, sales executives, marketing specialises, finance personnel and many more.
We are a full compliment of 19 individuals right now and we believe that we will be around 23-24 within the next 9 months.
You guys have a full squad wow haha and continue to grow which is even better 🍻
over and above we have contracted various service companies to assist in our growth - from communiyt management - to helpdesk personell, content writers, graphic designers - i meant the reality is that there is soo much that goes into a project and a company - and it is not only the products it gives out but also everything else that supports that eco-system and i am grateful for each one of our members that contribute their family time and skills and dedication to this vision and project.
Really well said 💎 teamwork makes the dreamwork, everyone working together 👌
So let’s jump into the platform itself, your whitepaper describes the protocol as the only Multi-Vendor, Multi-Developer Reg Tech simple API. Could you break down what this means to the average user, and for the industry? Is anyone else doing this?
Of course - very good question
we acknowledge that there are other players inthe regtech and risktech industry thoughout the globe but we also know for a fact that they are not going after the planet acquisition 😉 they are focussed on their area of expertise - which is great. BUT that means that if a company is operating globally and need to comply to various regultions and do various checks it needs to integrate the same thing over and over again with different suppliers and noone was bringing all that regtech and risktech under one roof - well - noone until Sekuritance 🙂
This is a really good point, hadn't thought about that!
So we actually invite all our "module competitors" to bring their service to us - we integrate and we offer consolidated UI and API offering to our merchants and individuals to have 1 point of contact and integeation and obatin a higher level of service and consolidation for their global operations - with everything else that goes with it and the power of the SKRT and blockchain economy to drive it, which is a whole oher topic in its owrn right and a lengthy one. 🙂
An important part of any cryptocurrency is the token itself, can you describe the tokenomics of the SKRT token, as well the utility behind it? In other words, what does SKRT do?
A very good and timely subject actually as we literally just launched our SKRT Loyalty Levels a few days ago - and lots happening on that front - but first things first
Our total supply is a fixed 818,202,997. The token enables the sekuritance identity management solution, the speedy token launch onboarding and the individual KYC/KYB personalised certificates amongst a plethora of other regtech and ricktech related activities. But even for non-service holders of the token itself, the benefits (which are about to be disclosed shortly) incentivise our users to hold onto SKRT itself for now or future use - they can avail of the sekuritane platform functionality at any time and also be rewarded for it - so we grow they grow with us always.
Over and above it is the only way to earn introductory and referral fees on our affiliate and partner network. We have several new fields where the token would be used and also how it is re-circled into the liquidity pools and also burnt under certain circumstances - it is an evolving process.
Also - partners and merchants also because token governors based on the individuals they accept as verified, etc - always bumping up the reputational scoring of the individuals or businesses or transactions being screened.
Important to note that there is only a limited supply in circulation right now - through our partners and initial participants, and moreover all participants were asked to vest their part for at least 6 months whilst the team for much longer.
Solid summary, like you said, the core of the ecosystem behind the services you offer 🍻 Having tokens vested for >6 months is really good btw
Since Sekuritance deals with private information on-chain, like KYC and AML documentation, it's crucial that the protocol be secure; do your protocols have, or plan to have, audits? What has the protocol done to ensure user privacy and safety?
Our solutions were built in layer 2 traditional technology with REST based APIs connecting to a plethora of different providers – each specialized in their niche – some kyc, some kyb, some geo-ip checking, some device-id checks, blacklists, etc.
We are focusing on our UI functionality and have a solid roadmap to bring to our users – mainly around not having to go through the laborious same KYC each and every time – sometimes 2-4 times a week and give more control back to the users in terms of where their data is going and how it is checked and by whom.
The blockchain element of it is that the network will be powered by the SKRT economy and all the sekuritance services are tokenized so you don’t only get access to service but you also get to participate in our b2b and affiliate programs by partnering up with us to either bring in additional users to the platform or even if you have a solution that you think compliments the platform and you would like to reach out to all our users and offer it through. We are a business enabler. seeing that several aspects of the chain are visible to the public, it was imperative that only referential layer information is stored on it and the rest in secure PCI audited solutions.
That last point is great, only keeping referential data on chain so as to keep personal info private.
Definitely - there is a famous saying in DSDM (https://www.agilebusiness.org/page/whatisdsdm) which i like to use everywhere and in anything - let's replace DSDM with blockchain as a topic and the saying would go "You can use all of Blockchain in some instances and some of Blockchain in all instances"
Lastly, SKRT has been on the market since May; with August upon us, what are your plans moving forward? Do you have a roadmap or potential updates coming soon?
I am super proud of all the achievements so far to be quite honest. The team has worked hard for this and continues to deliver and thanks to our recent public introduction, we were able to increase the team with a lot of new talent which will help us deliver more.
To name a few:
-We are one of the very few projects who have launched into this space who not only actually has a NON-ANONYMOUS Team but also a working solution that does exactly what it says it does.
-We have been revenue generating from day 1 of our launch – unlike other projects who do not even have a product or a prototype and we are super proud of that.
-We have since onboarded thousands of members on our platform and our official UI is not even launched yet.
-We have signed up consistently new merchants every week and a ton of new ones in discussion.
-We have two new departments in our team which is focusing on selling to our customers specialized legal/jurisdictional crypto consultancy as well as a “startup token kit” such as circulating supply APIs, vaults, API integrations to beef up their offering and much more.
-We have our first official exhibition (participation) confirmed for October in Dubai.
-We have launched our loyalty tier levels on August 1st
-We announced a huge partnership with Digitabits for the AS Roma project - multi-million dollar processing project
-We have attracted new talent for the team and are undergoing HR reviews
-We have onboarded BUYING.COM
-We are onboarding loads of clients weekly
We have a solid roadmap devised quite a while ago and we are over-delivering which we are super happy about – however we continuously work with our community to amend our deliverables to reflect what the business needs.
We have just finished our community Alpha Testing and launched our new Token Investor Onboarding solution and the results are remarkable – never have I seen a product delivering what we deliver to our merchants and the feedback has been just great.
Ok wow haha you guys are working non-stop, you love to see it!
We are very passionate about the journey we are on - and yes there are material gains in it too but we are more excited about the adoption and growth and education of the market and its global community.
It was a pleasure to host Sekuritance for a live AMA for more information check the links below!