loader-logo

Blockchain Ledger

  • Home
  • Blockchain Ledger

However your platform has solved Art. 36(h) provisions what you will be accutely aware of is that knowing who owns the loan, when they became owners and what is their status is critical to the implementation of a compliant platform.

From a regulatory and compliance perspective this is the part that has been a challenge for platforms, hence why some have not launched a loan exchange. Our platform takes care of all that for you.

Underlying the ASMX technology is a bespoke blockchain, created with financial services in mind. What this means, practically, is that your loan ledger is immuntable (it cannot be changed other than by transactions) and is is super secure using cryptography and automatic verification using a consensus algorithm between all of those computers connected to the ecosystem.

ASMX Blockchain Transaction ledger

No. We use the underlying blockchain technology for the secure ledger and the creation of assets on the exchange and also to transmit transactions across the newtork in a secure and efficient way.

We take care of the security of ‘private keys’ required to operate securely within the ecosystem. For most sized platforms this will be secure enough for operating on ASMX. If you prefer to have your own key storage then this can be arranged.

We offer a full API which your tech team will have access and test during the interaction 

You, as the platform owner, will be the only ones able to see the details of a user. When an authorised user is added to the system (through your platform) ASMX automatically creates a cryptograhic hash and address for that user. We do not have access to the underlying data without your permission. 

The entire blockchain is protected by a strong cryptographic hash algorithm. For the blockchain to be updated all computers on the network need to agree, the ‘consensus’. Any attempt to interfere wiith the edger would result in those changes being rejected, thus protecting the ledger. The only way to change the ledger would be to hack the private keys of the platforms connected to ASMX.

The first thing to do is quantifying the problem. To do that we must look at exactly how many potential keys exist. A private wallet key is simply a number between 1 and 2^256 and to brute force it all you need is to continue guessing until you hit the right number between 1 and 115 quattuorvigintillion.

That’s a hard number for the human brain to process, but to put it in perspective, it’s greater than the estimated number of atoms in the universe. At that scale, even the world’s fastest supercomputer – IBM’s Summit –  would effectively take forever to break just one platform’s private key.

ASMX is a technology platform. We do not handle client monies or allow direct registration on ASMX, we perform the transactions over our technology and report those back to your platform. 

Before we launch cross-platform buying and selling we will be evaluating the regulatory position and have regulatory cover lined up should it be necessary.