Rivetz Acquires DISC to Add Mobile Payments Platform and Enable Blockchain-Secured Smart Money
RICHMOND, Mass., June 6, 2018 /PRNewswire/ -- Rivetz, the leading decentralized mobile security solutions provider, today announced it acquired DISC Holdings Ltd., a developer of secure mobile blockchain-based payment applications.
The acquisition is part of the Rivetz strategy that combines the Trusted Execution Environment (TEE) already built into the hardware of millions of devices with the immutable record-keeping of blockchain technology to deliver true e-commerce security to consumers.
By leveraging state-of-the-art payment technology and hardware-level security standards, Rivetz enables money-with-policy to empower the next generation of consumer payment models for consumer devices.
The DISC Platform uses blockchain and distributed ledger technology to offer a faster, more efficient, secure and cost-effective alternative to existing payment platforms. Its smart payment app guides consumers toward more efficient and dynamic money management, along with providing secure payment functionality.
Rivetz technology will enable the platform to provide the tools for users to manage and operate their personal digital assets including identity, budgets, fiat payments and cryptocurrency assets. The system leverages the decentralized capabilities of blockchain to enable transparency between merchants and their users, while simultaneously protecting user privacy and data. The DISC solution has been built to support the European Union's General Data Protection Regulation (GDPR) for data privacy and protection.
The DISC platform is modernizing today's payment service models by providing support for consumers both with and without traditional bank accounts. The solution provides an unparalleled user experience and initially was launched as part of the U.K.'s Financial Conduct Authority (FCA) sandbox for innovative payment technology, enabling both peer-to-peer transactions as well as support for legacy payment models. DISC Holdings is regulated by the FCA as a small payment institution and the DISC platform is currently in active operation in the U.K.
"DISC is providing a proven blockchain-based payment solution for the U.K., and we're enthusiastic to expand the DISC footprint and feature set by leveraging Rivetz technology," said Steven Sprague, founder and CEO of Rivetz. "By combining the strengths of Rivetz and DISC, we plan to set a new bar on the consumer mobile payments experience and simplify consumer access to our ecosystem by growing the services of identity, messaging and blockchain."
"Our smart-money app is giving rise to a new system of secure money exchange for those outside the mainstream banking system," said Robert Kay, director of DISC Holdings. "We are now joining forces with Rivetz to usher in a new era for the secure exchange of goods and services."
About Rivetz
Rivetz technology and services aim to provide a safer and easier-to-use model for all users to protect their digital assets using hardware-based trusted execution technology. The device plays a critical role in automating security and enabling the controls that users need to produce high assurance data and benefit from modern services. Rivetz leverages state-of-the-art cybersecurity tools to develop a modern model for users and their devices to interact with services on the Internet. They were selected for Telecom Council's prestigious Innovation Showcase Class of 2018. Find out more at www.rivetz.com and follow Rivetz on Facebook, Twitter, YouTube and Telegram.
About DISC Holdings
The DISC (Digital Identity Security Company) Platform architecture provides a framework for managing and transacting digital assets. Based on an innovative blockchain foundation Disc provides the model for users to interact with digital assets. The DISC Platform consists of two initial applications: smart money and smart messaging. Find out more at www.discholdings.com.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Statements regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, the statements relating to GDPR readiness and compliance may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices and continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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SOURCE Rivetz
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