Auckland, NZ & Dundalk, Ireland, October 24th, 2018 - SingleSource, New Zealand’s pioneers in decentralised identity and risk scoring are deepening their relationship with GECKO Governance - the world’s first Blockchain RegTech regulatory solution for financial compliance.
SingleSource, having recently been awarded the GECKO Stamp of Attestation, are now partnering up to help improve the transparency, compliance and governance of token sales to investors. GECKO has recently launched its latest product offering called Crypto1 which aims to become the de facto compliance system that enables a self-regulatory framework on behalf of the Token Sale market. SingleSource’s Know Your Customer (KYC) and wallet screening solution will help power the Crypto1 platform for high quality onboarding and proof of funds.
SingleSource Co-Founder & CEO Kelvin Chandran says: "So soon after receiving the GECKO Stamp of Attestation, this is a great next step for us as we continue to deepen our relationship with the GECKO team. We see self-regulation of the Token Sale market as a critical issue, and we are pleased to be able to support the GECKO Crypto 1 platform with our solution.”
“Our vision as a company is to support a safer and fairer marketplace for the individual to transact with businesses so that they receive the best value for the service, while enabling organisations to trust the individual and eliminate financial fraud. So we are very closely aligned with the GECKO team and what they are trying to achieve”, adds Chandran.
GECKO Governance CEO Shane Brett reinforces: “Having already given SingleSource the GECKO Stamp of Attestation, it’s a natural evolution for us to deepen our working relationship with them. Their KYC and wallet screening solutions are a natural compliment to power our Crypto1 platform. As a company they are globally leading the way in providing individual control over the use of risk score data, whilst providing organisations with the ability to contribute to, and securely access, this data to make informed business decisions”.
Moving forward GECKO and SingleSource will look for ways to work closely together. In the first instance, GECKO will provide their governance expertise in an ongoing advisory role to SingleSource to ensure that future product features meet regulatory requirements in relevant regions around the world.
About GECKO Governance
GECKO Governance, the world’s first Blockchain RegTech regulatory solution for financial compliance, has expanded its existing service offering in bank and fund compliance by creating a platform that will ensure ICOs and Token Sales are regulatory compliant from start to finish.
The new GECKO Crypto1 platform is open to the entire ICO and Token Sale ecosystem and thus enables ICO and Token Sale projects to be vetted by investors, while providing an independent audit trail for regulators. It is implemented on a blockchain to ensure trusted, secure, decentralised compliance across the entire ecosystem of data providers and consumers. In order to power this new platform, an ERC20 standard (GECKO) token will be created and distributed to network participants.
SingleSource Platform Pte. Ltd (“SingleSource”) provides a decentralised risk scoring and identity protocol that puts the individual in control of their own personal data by leveraging blockchain technology. Our vision is to support a safer and fairer marketplace for the individual to transact with businesses so that they receive the best value for the service, while enabling organisations to trust the individual and eliminate financial fraud. SingleSource is powered by Centrality, one of the world’s leading, blockchain venture studios.