Blockchain Fraud Protection
Transaction Security and Transparency
The major benefit of a blockchain is that then when the electronic record in the blockchain is written and confirmed it cannot be changed. This immutability is your “Certificate of Trust”. Fenex utilizes this security protocol to allow all transactions to be verified and audited by both the payment sender and the receiver. We believe in the blockchain and will underwrite settlement 100% with a certificate of insurance for every transaction.
Traditional Database applications have support, maintenance and administration procedures effectively opening the financial data to be hacked, stolen or modified. Blockchain is only built to receive new records, without allowing any alteration of historical records the FENEX platform is a “TRUE” financial ledger.
Summary of Benefits:
- Proof of payment
- Proof of receipt
- Proof of delivery
- Full digital tracking
- History of all transactions and who generated the transactions. Whilst most blockchains are “trust-less” our ledger is based on known trusted parties.
- Enhanced digital tracking
- Insurance to indemnify individual settlement.