Introduction
It is reported that the regulated tier 1 blockchain payment network Zone in Africa and the artificial intelligence transaction monitoring technology provider Th
It is reported that the regulated tier 1 blockchain payment network Zone in Africa and the artificial intelligence transaction monitoring technology provider ThetaRay have announced that they will cooperate to implement ThetaRay’s cloud based SONAR solution to monitor and screen Zone transactions for illegal activities and violations of sanctions in Nigeria.
Blockchain payment network Zone uses ThetaRay to filter transactions
With the ever-changing landscape in the world of finance, blockchain technology has emerged as a way to facilitate secure and transparent transactions. However, with the increase in transactions, the need for monitoring and screening for illegal activities has also arisen. This has led to the cooperation between Zone, a regulated tier 1 blockchain payment network in Africa, and artificial intelligence transaction monitoring technology provider ThetaRay to implement ThetaRay’s cloud-based SONAR solution to monitor and screen Zone transactions.
# Overview of Zone and ThetaRay
Zone is a regulated tier 1 blockchain payment network that enables users to send and receive digital currencies with ease. It is a safe and secure platform that utilizes cutting-edge technology to ensure the protection of its clients’ assets. Zone has a proven track record in the provision of secure, compliant, and reliable blockchain-based transactions. The platform is a popular choice for merchants that want to accept digital currency payments.
ThetaRay is an AI-driven transaction monitoring technology provider that offers a cloud-based SONAR solution to monitor and screen transactions for illegal activities and violations of sanctions. The ThetaRay solution combines machine learning with advanced mathematical algorithms to detect and prevent financial crimes in real-time. The solution can identify complex fraud and money laundering schemes that would be difficult to detect using traditional monitoring methods.
# Benefits of Implementing ThetaRay’s Cloud-Based SONAR Solution
The collaboration between Zone and ThetaRay to implement the latter’s cloud-based SONAR solution will secure the platform’s transactions further. The solution will monitor and screen Zone’s transactions for illegal activities and violations of sanctions in Nigeria. These illegal activities include money laundering, terrorism financing, and other financial crimes.
ThetaRay’s cloud-based SONAR solution will provide a real-time screening of transactions, making it easier to detect fraudulent activities faster. The solution’s machine learning algorithms can identify patterns and anomalies in transactions that may indicate illegal activities. This will also help Zone maintain compliance with international laws and standards in the financial industry.
# How ThetaRay’s Solution Works
ThetaRay’s SONAR solution utilizes advanced mathematical algorithms and machine learning to analyze massive amounts of data in real-time. The solution identifies patterns and anomalies in transactions that may indicate illegal activities. The identification of such activities helps to mitigate the risk involved and prevent fraudulent activities before they occur. The SONAR solution also uses a modular approach to ensure that additional features can be added as the need arises.
# Conclusion
The collaboration between Zone and ThetaRay to implement ThetaRay’s cloud-based SONAR solution will ensure that Zone’s transactions are secure and comply with international laws and standards in the financial industry. The SONAR solution will provide real-time screening of transactions, making it easier to detect fraudulent activities faster. This collaboration between African blockchain payment network Zone and ThetaRay lays the groundwork for the use of advanced artificial intelligence technologies to secure Africa’s financial systems.
# FAQs:
1. What is Zone?
Zone is a regulated tier 1 blockchain payment network that facilitates secure and transparent transactions.
2. What is ThetaRay’s SONAR solution?
ThetaRay’s SONAR solution is an AI-driven transaction monitoring technology that monitors and screens transactions for illegal activities and violations of sanctions.
3. What are the benefits of implementing ThetaRay’s cloud-based SONAR solution?
By implementing ThetaRay’s cloud-based SONAR solution, Zone can monitor and screen their transactions in real-time, identify patterns, and prevent financial crimes such as money laundering and terrorism financing.
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