This Day On The Street
Continue to site
ADVERTISEMENT
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

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





LONDON and LAS VEGAS, Oct. 9, 2013 /PRNewswire/ --  ValidSoft ( www.validsoft.com),  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, www.vencurrency.com, a leading global virtual currency managed by the Hub Culture Group, www.hubculture.com.

(Logo: http://photos.prnewswire.com/prnh/20120917/MM75492LOGO)

(Logo: http://photos.prnewswire.com/prnh/20120917/MM75872LOGO)

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs