Decentralized Crypto Financial, Inc. Launches First Ever KYC and AML Compliant Blockchain Solution in Partnership with Renowned Government Contractor, TENICA Global Solutions
Announces qualification by the SEC to become a publicly traded company pursuant to a direct sale of the Class A stock
WASHINGTON, 12 April 2023 /PRNewswire/ — Decentralized Crypto Financial , Inc. (DeCryptoFi), in partnership with Tenica Global Solutions (TENICA) today launched a new blockchain platform dedicated to making digital assets accessible in compliance with all SEC and federal government laws and regulations, the first publicly available Know Your Customer (KYC ) & Anti Money Laundering (AML) compliant blockchain. This first-of-its-kind platform, where users can come together to leverage a full range of decentralized financial service offerings, including IPO/debt services and smart contracts, built with user identity contracts for traditional and digital assets for financial transactions, was founded by Nicholas Scherlinga senior technology leader with 20+ years of experience working in the intelligence community and the Department of Defense.
The proprietary software, based on Ethereum, enables fully screened participants to use embedded technology that is fully compliant with KYC and AML regulations. It protects users—as well as public and private entities—from accidentally or intentionally violating federal regulations and a variety of laws, including USA PATRIOT Act, Bank Secrecy Act, Counter Financing of Terrorism, Anti-Fraud and Financial Crimes, Office of Foreign Assets Control (OFAC), Financial Crimes Enforcement Network, and Fair and Accurate Credit Transactions Act of 2003 in their mission to prevent money laundering of money.
“Our goal with DeCryptoFi is to harness the power of blockchain to create an open architecture and more transparent financial system for the digital age that will ultimately revolutionize the creation and management of both traditional and digital assets,” said the DeCryptoFi CEO. Nicholas Scherling. “Based on our deep experience and relationships with government agencies through TENICA Global Solutions, we strongly believe that the way to achieve this goal is by facilitating these services in a way that is inherently compliant with current regulations. That is what we have built with DeCryptoFi. We’ve made it easy for anyone to build compatible financial applications on our blockchain.”
The release of the DeCryptoFi platform comes in collaboration with TENICA Global Solutions, a globally recognized government contractor with over $50M+ in annual revenue, founded by Major General (Ret.) Terry Scherling. Over the past seven years, the current COO Nicholas Scherling helped transform TENICA from a general consulting practice into the advanced engineering powerhouse it is today, increasing revenue by 450%.
“DeCryptoFi was born from blockchain R&D at TENICA around strengthening data provenance for our national security offerings. Essentially, we needed to change blockchain code to remove anonymity,” said DeCryptoFi and TENICA CTO, Dr. Wesley Kaplow. “We recognized the obvious applications of this technology in finance because it solves the direct conflict current cryptocurrencies and blockchain platforms face around AML and KYC, especially related to DeFi. With DeCryptoFi you get all the benefits of blockchain and a fully integrated identity solution that allows your DeFi -application or corporate security (Stocks/Debt) to inherit compliance with federal laws and regulations.”
In phase 1 of the partnership, DCF will contract with TENICA to provide regulatory compliance and software development services to reduce costs as DeCryptoFi scales its offerings and works to be cash flow positive by the end of 2024. DeCryptoFi’s leverages its proprietary technology to be the first the share (DCF) that will be issued on the blockchain and is fully compliant with SEC regulations, allowing investors to buyClass A common stock directly on their website.
“When you buy DCF shares, you’re not buying a security token that represents the stock; you’re buying the stock itself,” Scherling said. “Unlike many of our competitors who use security tokens to represent shares, we do not create a layer separate from the security by using a closed platform where the public cannot see, interact and use our blockchain (e.g. given a token separate from the user identity stored in a siled company database.) In that implementation, the share does not have all the properties and benefits of a Cryptocurrency while DCF meets SEC regulations. We are excited to be the first company to leverage the solution we have created and know it will change the way financial services are delivered to the world.”
To learn more about DeCryptoFi visit our website at https://DeCryptoFi.com/.
To read more about our management team visit our Management page.
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SOURCE Decentralized Crypto Financial
