Rivetz, a decentralized mobile security solutions provider, today announced the acquisition of 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.”