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New AMLT Smart Contract!

Dec 30, 2018

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Recognized as a global leader in RegTech for blockchain, Coinfirm serves as a foundation for the safe adoption and use of blockchain. The Coinfirm AML/CTF Platform uses proprietary algorithms and big data analysis to provide structured, actionable data that solves compliance and transaction risk issues in blockchain and cryptocurrencies. The blockchain agnostic platform is currently used by anyone ranging from major financial institutions to exchanges. In addition, Coinfirm develops dedicated blockchain solutions such as the data provenance platform Trudatum that was recently integrated by the largest bank in CE.

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We recently created and have already been using a new smart contract we developed for the AMLT Network. This smart contract was created to scale up and automate the AMLT Network Member Reward distribution process while at the same time laying the foundation for the Network to be able to at once reward hundreds to thousands of Network Members at the same time. This process is done via an ethereum smart contract, which is triggered by an automated daemon program once a month, to pass reward data (set of address:reward).

The result is a transaction having all reward tokens transferred from one address to Network Members. We are currently in development of other smart contracts for the AMLT Network in accordance with our Long Term Roadmap.

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The AMLT Team