Maxonrow to build blockchain ID system to prevent frauds

Thursday 6 December 2018 10:45 CET | News

Blockchain network Maxonrow has announced its plan to build a real-name blockchain system to stave off frauds and illegal transactions.

Maxonrow, the US-based network, is also planning to cooperate with governments, businesses, organizations, and individuals to securely move assets across the blockchain. Through the real-name certification system, Maxonrow aims to optimise public administrations worldwide, offer better services to all parties in its blockchain network ecosystem, and prevent any fraudulent transaction.

IDC estimates that annual global investments in blockchain solutions will reach USD 2.1 billion in 2018, , and may soar to USD 11.7 billion by 2022. One reason for this is the fact that blockchain technologies are witnessing diverse applications, such us intellectual property trading, encrypted message transmission, electronic medical record experiment, electronic voting, digital ID authentication, accelerator platform, fundraising platform, cryptocurrency ATM, cryptocurrency investment, retail smart contracts, and CSR sustainable certification.

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Keywords: Maxonrow, blockchain, ID system, fraud, US, illegal transactions, security, cryptocurrency, digital ID, authentication
Countries: World