Or Decentralized Arbitration

The main pillar of Decentralized Finance (or DeFi), is the absence of the intermediary and a central body. The two parties involved in the transaction are the only participants of the deal. But what happens when any of the parties are not completely satisfied, have been scammed, and want to open a dispute? The new economy has new challenges, but it doesn’t mean there are no solutions.

The DeFi transaction that happens between the two parties is possible thanks to the smart contracts that are running on the blockchain. The fact whether the transaction was borrowing or…


Bitcoin Transactions Have Become A Convenient Vault for Performing Attacks Using C&C Servers

DDoS reigns supreme. In 2020, more than a hundred companies whose activities are in the sphere of finance have become victims of DDoS attacks. Teresa Walsh, head of global research at FS-ISAC, says today’s cybercriminals have increased their potential in the global marketplace. FS-ISAC predicts that the number of cybercrimes will grow along with technological capabilities.

According to Media OutReach, hacker DDoS attacks have become the most common form of ransomware. It is reported that the attackers “sent extortion notes threatening to disrupt the firms’ websites and…


by Nikolay Demchuk

AML screening is an important measure for every cryptocurrency service provider. It aims to mitigate the risk that cryptocurrencies of customer are not coming from illegal sources such as the darknet, fraud, unlicensed gambling, terrorist financing, etc. For that, many crypto exchanges, OTC traders, and brokers have deployed services that analyze cryptocurrency addresses and reveal the history behind them.

Cryptocurrency has been around since 2008, but specific regulation over this new technology only started in 2018, when the European Union adopted the 5th AML Directive. It required every member state to bring their cryptocurrency service providers in…


At Silença Tech we often get asked by startups what blockchain platform is optimal to design their distributed software. I want to share with you what logic we follow and driven by to give the best response to our customers. Of course, tech specs should be taken into consideration, and also it always depends on the specificity of software etc. However, I’d like to elaborate on the most common use cases.

First and foremost, what needs to be determined is the level of access granted to participants. In other words, whether a network is going to be public or private…


On March 26, Binance together with IdentityMind announced the launch of an AML service. On February 21 of the same year, Huobi Global issued a press release about AML policy tightening. And four of the biggest Korean banks earlier established a hotline where users can share information on any illegal activity related to crypto assets.

We can now observe that the crypto market responds dynamically to the pressure of the state institutions and aims to stay away from suspicious and risky transactions. …

Slava Demchuk

CEO AMLBot/AMLSafe, here to help you be compliant

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