- Enhanced KYC and “send to name” functionality without centralized data sharing
- The system works without charging any extra transaction fees
SwissFortress presents a paradigm shift by delivering a secure and user-friendly ecosystem, offering private send to name with addresses computed dynamically in real time via a frictionless automatic peer to peer protocol. Bankless Times talked to Mechow, CEO of SwissFortress, about crypto wallets, regulations, security, and the future of crypto.
What makes SwissFortress unique among crypto wallets?
The users simply send any crypto to their counterparty’s name (called the “FortressName,” such as @alice) and their SwissFortress wallet automatically computes the on-chain addresses where only the sending and receiving wallet know what they are. Optionally, end users may share a piece of cryptographic proof that identifies them, meaning crypto transfers can be attributed to a real identity for both senders and receivers. All of this enhanced KYC and “send to name” functionality occurs without centralized personal data sharing or storage.
What other measures do you take to guarantee transaction security?
SwissFortress mitigates the vulnerabilities associated with traditional password-based systems entirely while ensuring a seamless customer experience comparable to platforms such as PayPal. The system works without charging any extra transaction fees and supports all existing major chains and tokens. At this time, the SwissFortress.com beta supports BTC, BCH, eCash, ETH, CSPR, and all 1200+ ERC-20 tokens and comprises of over 700,000 lines of code replacing Ledger, Trezor, Fireblocks, PayPal, Metaco, Unstoppable Domains and many others.
How do you expect upcoming national and global regulations to affect your activity?
Our KYC/AML system allows end users to comply with KYC/AML requirements in their jurisdiction and offer cryptographic proof of any and all transactions. We feel our wallet will be preferred by jurisdictions, in which authorities don’t know how to enforce the crypto laws.
You recently announced an integration with qiibee, who partner with Miles & More, the loyalty program of the Lufthansa Group. How will clients of the air carrier benefit from this?
They will be able to receive bonus Miles & More miles when they sign up for a FortressName.
What awaits the cryptocurrency market in 2024 and beyond?
It seems like 2024 might be the breakthrough year where we start to see an increased pace of mass market adoption. SwissFortress is definitely going to be a part of that with a significant number of releases, updates, and partnerships scheduled in 2024. The upcoming BTC ETF combined with the third crypto bull run and investors seeking profitable alternatives to TradFi all bode well for our space.
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