Quadriga establishes Blockchain R&D facility in Canada

Quadriga Fintech Solutions Corp., provider of various technological solutions to the virtual currency space, has announced the launch of a Research & Development lab for Blockchain technology.

The lab will be the first of its kind in Canada. Its first project will be the development of a platform with two main functions: handling the onboarding and client data management for financial crime systems using the Blockchain and facilitating machine to machine (M2M) payments with Internet of Things (IoT) providers for connected cities.

Gerald Cotton, CEO of Quadriga, commented:

“Blockchain technology has an unchangeable, fully traceable ledger of activity and as such, represents a crucial innovation for financial technology, particularly for systems designed to combat money laundering, terrorist financing and fraud.”

“We are very excited to be starting a Blockchain lab and helping to develop FinTech in Canada, especially focusing on two phenomenal growth areas in the space, of using the Blockchain to manage digital identities for digital finance at the highest AML legal standards in the world and to be the intersection point for M2M payments for cities as they become digital and need to build in micro-payments that are efficient, instantaneous and transparent. Down the line, we see our Blockchain R&D lab having even greater applications for climate finance.”

The company also announced that it has entered into an agreement with Christine Duhaime, a founder of the Digital Finance Institute, who brings with her a significant experience in financial crime systems mitigation. Quadriga is confident that Ms Duhaime’s knowledge of the FinTech industry and international connections in finance, banking and FinTech will help open up additional routes to market for the company’s Blockchain applications once developed.

To view the announcement from Quadriga, click here.

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