In this episode, I visit Jonathan Benson, Vice President of Product Development at ShoCard. Businesses must adopt solutions which keep information secure. Moreover, there is an ongoing need to ensure they are still in compliance. This episode provides a fascinating exploration of how innovation in one sector can impact the greater compliance profession.
We discuss ShoCard’s use of blockchain to facilitate identity management. We begin with a brief explanation of is blockchain. Benson explains how blockchain can help commercial businesses with identity management and help financial institutions in their KYC obligations. We explore how can it help to reduce fraud and improve overall AML management and the scalability of the ShoCard solution. Finally, Benson explains that when large databases of personal information need to be maintained, they are vulnerable to attacks.
For more information on ShoCard’s solution, go to their website, by clicking here.