Blockchain Monitoring Platform PARSIQ, Cryptocurrency Dash Partner To Bring Compliance Features To Merchants

Blockchain, News | February 24, 2020 By:

Blockchain monitoring and intelligence platform PARSIQ has been selected by blockchain-based digital currency Dash to provide compliance and monitoring capabilities.

PARSIQ offers comprehensive tools for analyzing, detecting, and preventing cryptocurrency fraud and other illicit activities on the blockchain. The firm’s solution claims to be the first blockchain monitoring platform that allows users to set up Smart Triggers that react to events on the blockchain in real-time using its blockchain stream manipulation language, ParsiQL. The monitoring solution addresses the fundamental complexity of analyzing multiple blockchains in real-time.

Dash is an e-commerce and payments-focused cryptocurrency that allows users to make instant payments online or in-store. Dash’s InstantSend feature utilizes transaction locking and masternode consensus to facilitate instantaneous transactions on the Dash blockchain. The company claims that InstantSend allows them to compete with existing centralized payment platforms such as VISA, who offer rapid transaction times. Dash’s InstantSend technology offers this, but in a decentralized and trustless manner.

With the partnership, Dash’s thousands of merchants worldwide will now benefit from PARSIQ’s Smart Trigger technology that delivers real-time payment notifications, along with automated accounting, reporting and compliance tools to support third-party apps integrating with Dash.

“In a fast-moving world, it is more important than ever for businesses to have clarity on digital payments and transactions in real-time,” said Andre Kalinowski, Co-founder of PARSIQ. “PARSIQ will automate payment confirmation notifications, audit, security monitoring and user activity on the Dash blockchain. It’s a leap towards bringing additional benefit to the Dash community and yet again increasing the range of blockchains that PARSIQ supports.”

According to PARSIQ, they are working with Dash NEXT, the Asia-based business development unit of Dash, to help its users capitalize on the rapid maturation of digital payments in Asia. Current estimates value Asia’s digital payments industry at US$2.5 trillion, representing a staggering 20 percent growth year-on-year.

“PARSIQ’s monitoring and automation tools are crucial for our users at an important point of growth in Asia, delivering deeper visibility over their Dash portfolios,” said Sascha Jochum, Co-Founder of Dash Thailand & Dash NEXT. “We are excited to keep pushing forward and continue to expand the digital payments ecosystem across the region.”