RSK, the company behind smart contracts for bitcoin, and leading blockchain reg tech Coinfirm announced today a partnership to address anti-money laundering and counter-terrorism financing compliance for the cryptocurrency marketplace. RSK has brought in Coinfirm’s AML/CTF Platform along with its proprietary algorithms and big data analytics into its Federation.
RSK has now added another strong blockchain player to its federation that has created an ecosystem that provides them with the best potential for their large-scale adoption and success.
Not only having significantly improved smart contract capabilities in bitcoin, RSK has also been able to increase scalability within the ecosystem, having successfully accelerated transactions per second from 7 to 400. Subsequently, Coinfirm has been one step ahead of the ever-changing commercial scalability for bitcoin.
“We are happy to welcome Coinfirm as part of the RSK Federation. We both share the vision about the importance of smart contracts powered by the Bitcoin network. Their strong commitment to compliance facilitates blockchain technologies becoming mainstream and the Internet of Value becoming a reality.”
A major strength of the Coinfirm AML/CTF Platform is streamlining and automating compliance processes for blockchain transactions, taking the process from a double-digit percentage of labor and time expenses to a practical, automated utility.
“RSK is bringing a needed element to Bitcoin and taking the network and ecosystem forward. Coinfirm understands their importance and they understand our unique role in the future commercial and mass adoption of bitcoin so our joint relationship was a natural step for both sides. Together we’re going to continue pushing the further adoption of bitcoin around the world.”