NEW YORK, Oct. 24, 2019 /PRNewswire/ -- Hoyos Integrity Corporation (Hoyos), an American technology company specializing in innovative secure mobile communications products, services and digital assets technologies, announced today that Gary Cohn, former Director of the U.S. National Economic Council and former President and Chief Operating Officer of Goldman Sachs, has joined Hoyos as an investor and member of its Board of Advisors. This follows the recent announcement that Hoyos and AXA XL, the Property & Casualty and Specialty Risk division of AXA, launched an innovative insurance solution that stands behind the "Hoyos Promise of Security" for Hoyos' digital wallet technology and its Frictionless Instant Payments System (FIPS).
Hoyos' core business is driven by developing secure patent-protected mobile communications technologies to safeguard voice and data for both public and private sector use. Hoyos has its FCC license to operate as a Mobile Virtual Network Operator (MVNO) and has agreements in place to resell access to the voice and data telecommunications infrastructures of main operators in the U.S. Hoyos is completing development of its own secure smartphone that runs the same operating system that protects the U.S. nuclear arsenal while also being fully compatible with off-the-shelf apps.
"Hoyos is a unique company in the world of secure voice and data communications and the use of biometrics," Cohn said. "Their ability to substantially modernize the payment system with FIPS and to create secure mobile communications puts them in a singular position. The United States and other highly regulated markets have lagged in the digital payment space. FIPS, while upholding the legal and regulatory safeguards on which our financial system runs, could help the U.S. and other regulated markets catch up. I am excited to work with the Hoyos team to help build a device for highly secure communications and an impenetrable, insured and efficient payment network."
The underlying technology of Hoyos' digital wallet and FIPS was borne out of military-grade digital secure vault technologies. Unlike traditional digital wallets, it is designed to provide significant privacy protections to consumers as it does not mine their data, performs unique biometrics-based identity authentication on every transaction, and holds any digital fiat or crypto currency.
Additionally, Hoyos' digital wallet will have the "Hoyos Promise of Security" supported by Hoyos' Contractual Liability Insurance product provided by AXA XL that provides assurance of covered wallet losses in the event of a breach from cyber theft or hacking. It is an online (hot) wallet complying with bank-level regulatory standards and runs on all smartphones including Hoyos' own uniquely secured Hoyos Integrity Smartphone. The Hoyos wallet platform underwent stringent testing by U.S. government security contractors and in an international hackathon contest, and was not breached.
Hoyos expects to commence deployment of its uniquely secure mobile communications services in 2020 and continues to seek opportunities in the payment processing space with a number of prospective parties.
Cohn served as Director of the U.S. National Economic Council and chief economic advisor to President Donald J. Trump from 2017-2018. He managed the administration's economic policy agenda and led the successful effort to grow the U.S. economy through historic tax and regulatory reform. Prior to his White House service, Cohn was President and Chief Operating Officer of Goldman Sachs, where he worked for more than 25 years.
Hector Hoyos, Founder, CEO, and CTO of Hoyos Integrity Corporation said, "Gary has been working with us for nearly a year now, bringing his unparalleled experience and relationships within the finance and technology industries. With Gary's guidance, Hoyos and its uniquely disruptive and disintermediating technologies and solutions will properly and successfully deploy into the global markets. Gary's deep understanding of global financial systems and government will be invaluable as we develop and advance the most secure mobile communications platform, as well as the payment instrument of the future."
ABOUT HOYOS INTEGRITY CORPORATION
Hoyos Integrity Corporation is an American technology company specializing in the innovation of uniquely secure patent-protected mobile communications products and services that guarantee the privacy of voice and data, as well as in secure digital assets. The company's core focus is built around the national security needs of the United States and its allies, with its expertise ranging from biometrics to cybersecurity to secure embedded operating systems running in their own uniquely designed secure smartphone.
KCSA Strategic Communications
617 921 0984
SOURCE Hoyos Integrity Corporation