Purity-as-a-Service, or PureFi Protocol Use Cases. Part 1

Liquidity Pools and the Risk Score

Money laundering has been one of the main issues affecting the global economy for many decades. The rapid development of DeFi infrastructure that has not been accompanied by the introduction of effective security solutions has created a favourable environment for malicious actors. And in this situation, honest users are left almost without any adequate protection, so that their reputation and image are under the threat of being heavily damaged. Hacken Foundation cannot ignore this situation. That is why we have decided to launch PureFi, the solution aimed at making DeFi free of money laundering.

Problem:

Decentralized Exchanges (DEXs) unlike the Centralized ones (CEXs), do not keep an order book of the executed trades and, instead, all crypto assets available for trading are combined in the liquidity pools.

Solution:

PureFi protocol is capable of checking each transaction in virtual currencies and assigning the money laundering (ML) risk score.

Bottom line:

The anonymous trading on the decentralized exchanges will stop being considered the “Wild West”. Even an accusation of involvement in money laundering can not only ruin the reputation of honest businesses but also cause serious legal consequences. PureFi protocol is a revolutionary tool turning KYC into Self Sovereign Identity and helping exchanges and users to protect themselves while making the most out of decentralized trading.

About Hacken Foundation

Hacken Foundation gives a boost to innovative cybersecurity solutions by empowering the Hacken Ecosystem through HAI Tokenomics. All projects pass a strict pre-approval procedure before entering Hacken Foundation so that potential investors may be absolutely confident of the projects’ transparency and protection of their assets. Hacken Foundation has successfully launched 4 projects including HAPI, disBalancer, ArtWallet, and PureFi. It is just the beginning of our long journey. We keep on looking for solutions that will make difference.

View more info about PureFi at:

Website: https://purefi.io

Follow us on our social channels:

Hacken Club Twitter: https://twitter.com/hackenclub

The community of crypto and cybersecurity enthusiasts united to keep not only themselves but also their friends and family safe in today’s digital world.

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