Finterra Ventures

  Singapore has long been a financial hub in Southeast Asia, with Singapore’s regulators arguably pioneering economic and regulatory standards in Asia since the early days of the country’s founding 1965. Just as Singapore led the way in financial services in Asia, history is looking to repeat itself, as it is now looking to take over the mantle of being the blockchain hub of Asia. The Asia Pacific region is currently the fastest growing market for blockchain in the world, according to a recent report by Genesis Market Insights. Ever since the publication of Bitcoin’s whitepaper, people, organisations and governments have taken note of the technology behind the cryptocurrency. With the rise of the value of cryptocurrencies, many have tuned in to observe and participate in the movement taking place before our eyes. People and organisations still rush to get involved and reap the benefits of the revolutionary technology. However, some governments (e.g. China) have taken an aggressive st

The impact of fraud has been a major contributor for various individuals as well as organisations across the globe. While financial fraud is of paramount importance, other manners of fraud are also very problematic and results in devastating consequences. In 2018, firms worldwide lost more than $7 billion to internal fraud schemes, according to a “2018 Report to Nations,” by the Association of Certified Fraud Examiners (ACFE) — which analysed 2,600 real cases of occupational fraud from companies across 125 territories and 23 industries. Addressing the risk of fraud is a key challenge for all organisations and individuals.   Finterra being a technology company has its own manner in which it addresses fraud. Finterra's blockchain technology is by design an anti-fraud technology. Like all other blockchains, the essence of Finterra's blockchain technology is a shared and tamper-proof record of any manner of transactions that are time-stamped and verified by a distributed netwo

As one of the  top operational risks of 2019 , fraud and scams in the crypto industry isn’t a problem you can ignore. In addition to being costly, it can decrease investor morale and create an unstable business environment as well as undermine crypto industry credibility and consumer relationships. Use blockchain to take a stand against scams and fraud in your business network. Explore  Gallactic Blockchain  and the new  Finterra’s MyWaqf Platform  to see how you can get started.   If you’re interested in learning how blockchain is being used to prevent scams and fraud in real industries, check out my previous  blog post , where  I  discuss  use cases  in financial transactions, identity and supply chain.   Useful Articles:   Forbes Coin Telegraph Fraud Magazine