Established in 2018, FINX has always been a pioneer in decentralized digital banking in Malaysia, with its efforts to solve the problem of high banking costs with conventional banks, while providing financial solutions to the unbanked market in Southeast Asia. Further establishing itself in digital finance, FINX is taking another revolutionary step with the introduction of its proprietary technology, FINX SHIELD.
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With cybersecurity issues on the rise and getting more complicated, there is a need for defence against this threat especially when dealing in digital finance. Ransomware attacks, malware and software infections, and other cyber vulnerabilities continue to loom over governments, organizations and agencies. Backed by data and know-how from FINX, FINX SHIELD is well-placed to solve, and prevent, any cybersecurity issues with its advanced approach to AI-powered threat protection.
Opportunities in Cybersecurity With Blockchain Technology
As a leading blockchain pioneer, FINX will leverage blockchain technology, which many experts are of the opinion will become mainstream within 10 years. Blockchain transactions are distributed in a way where network gatekeepers help facilitate the security of the blockchain. Building on this, FINX SHIELD will utilize big data and blockchain, powering Artificial Intelligence to disrupt the cybersecurity technology landscape. By collecting big data and incentivizing individuals and organisations, FINX SHIELD’s end goal is to make threat data freely available to the general public.
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“Through a network of proficient individuals and organizations, FINX tokens will be rewarded to contributors to the FINX Ecosystem,” explains Henry Chai, CEO of FINX. “With participation and cooperation across the blockchain sphere, the FINX Ecosystem will become the new standard across the cybersecurity industry to ensure security, privacy and trust for establishments dealing with data, digital finance, and personal data security,” he says. According to a FINX whitepaper on FINX SHIELD, the data provided is expected to power many cybersecurity-related products and eventually become the world’s largest cyber threat detector powered by blockchain.
With the introduction of FINX SHIELD, FINX envisions being the leader in cybersecurity thanks to their expertise in the blockchain terrain. Moreover, with its recent partnership with global digital asset trading platforms BigONE and Biconomy, as well as popular cryptocurrency platform Coinovy, FINX will be able to leverage more resources as it builds a more robust and secure cybersecurity shield and defence.
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