I had the pleasure of discussing the topic of crypto compliance by design with BlockQuake CEO, Antonio Brasse, on a Web3 Enabler Real World Blockchain podcast special.
Crypto Compliance by Design
It is imperative that compliance is built into the design of blockchain products, as well as a startup’s business operations. Making this happen involves close attention to detail, as well as entrepreneurs’ expertise and dedication. Brasse possess this extensive expertise, dedication and passion.
Blockchain Entrepreneurs’ Responsibilities
It is important that at least some founding members of a startup in the blockchain space have a background in security and compliance. The following knowledge should be applied throughout the development of any product.
- Software security architecture and testing
- Security education and awareness training
- Anti-money laundering (AML) requirements
- Communications and transparency around security and compliance
The Role of Community
Brasse also highlighted the importance of community in the development of a blockchain startup, such as a crypto exchange. Getting community buy-in is key in the development of any product. Building trust among a community (stakeholders do not only include consumers) is imperative. That is one way that building security, compliance and transparency by design principles comes into play. It is no surprise that Brasse and I connected almost immediately when we met at an XRP Ledger New York meetup that Web3 Enabler co-hosted.
