This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ValidSoft And VEN Partner To Bring Advanced Cyber Security And Identity Theft Protection Solutions To Virtual Currencies

Stocks in this article: ETAK

LONDON and LAS VEGAS, Oct. 9, 2013 /PRNewswire/ --  ValidSoft (,  a global supplier of advanced telecommunications based fraud prevention, authentication and transaction verification solutions and a wholly owned subsidiary of Elephant Talk Communications Corp. (NYSE MKT: ETAK), is pleased to announce a new partnership with Ven,, a leading global virtual currency managed by the Hub Culture Group,



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.

Pat Carroll, CEO of ValidSoft stated, "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. 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."

Stan Stalnaker, Founding Director of Hub Culture, commented, "As the scale of complexity in virtual currency economies explodes, we are determined to design and implement the most user friendly and secure capabilities to safeguard against inevitable attempts by fraudsters to take advantage of emerging financial exchange methods. The Central Ven Reserve System currently identifies transactions to mitigate issues around compliance, money laundering and theft, and customized SMARTvc™ architectures will be at the core of new exchanges linking Ven to other virtual assets.  We are honored to collaborate with a world class company like ValidSoft in redefining Fraud Prevention™ and are delighted Ven will be at the core of ValidSoft's work to enhance security in this brave new world."

"Hub Culture is leading the world in the creation of green, clean and transparent financial ecosystems, and making sure these new capabilities employ a new world standard of safety, privacy and security for our members. Thanks to this partnership with ValidSoft, Ven will accelerate its evolution as a cutting edge global financial tool. As Ven moves from the relative confines of Hub Culture into digital financial markets, they will embed security as a core element in all levels of Ven – from P2P transactions and corporate holdings to trading markets for equities, commodities and other currencies. Ven's 100% reserve backing, unique environmental DNA, diversified price stability and ease of use are enhanced by this serious approach to security standards. This will help cement Ven as the transparent, green, trusted choice for consumers, corporations and governments seeking to benefit from the opportunities presented by virtual currency," Stalnaker added.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs