Bonq partners with GBC.AI to protect its users from theft and fraud
Bonq, is a protocol for self-sovereign finance lending with a collateralized payment token. Bonq’s mission is to allow individuals and businesses to borrow against their digital assets, interest-free and without credit checks from 3rd parties. Bonq is delivering a vision for self-sovereign Decentralised Finance.
Regarding Decentralized Finance (DeFi), user assurance and confidence are paramount, just as with Traditional Finance (TradFi), so Bonq is currently undergoing regulatory approval from the Swiss Financial Market Supervisory Authority FINMA.
The team at Bonq realise that regulatory approval is a major leap forward for DeFi and reassures users they can trust Bonq. Let’s face it, the previously unregulated DeFi segment has left a lot to be desired in recent times.
Bonq also takes the safety and security of its users’ assets very seriously, which is why they have chosen GBC.AI with its Wallet Guardian artificial intelligence smart contract code scanning to further build user confidence.
The Wallet Guardian analysis consists of two parts:
- A smart contract code audit
- An audit of various on-chain metrics regarding the smart contract.
It’s important to assess various parameters because a scam smart contract can be perfectly fine on the technical level; however, with on-chain analysis, Wallet Guardian technology can detect patterns that indicate that it’s most likely a scam.
William De’Ath, Chief Commercial Officer at GBC.AI, stated:
“We at GBC.AI, also known as Guardians of the Blockchain, are delighted to work with the visionary team at Bonq. Blockchain technology is coming of age, and GBC.AI is here to support sustainable beneficial decentralized use cases. Bonq is the premier self-sovereign DeFi solution needed to take the segment to the next level, and we thank them for trusting GBC.AI’’.
Micha Roon, Chief Technology Officer, and Founder at Bonq stated:
“Every DeFi project needs a guardian which can warn the user about ongoing attacks. We have seen with the Curve UI hack lately that the public infrastructure is the weakest link in the protection against malicious actors. AI has this magic ability to detect patterns and hence warn against stuff that humans have not envisioned. Having the guardian look after the Bonq protocol from the start will allow it to learn the patterns and protect the users as we grow’’.
About Bonq
Bonq is a technology company providing solutions for self-sovereign finance. It allows individuals and businesses to access the liquidity of their assets without selling them interest-free and without needing credit approvals from third parties. Using assets as collateral, Bonq allows users to issue a loan backed by these assets. It will start with cryptocurrencies and blockchain tokens; however, in the future, the Bonq protocol will support tokenized real-world assets, including shares of private companies, IP, invoices, and property.
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About GBC.AI
Guardians of the Blockchain create Security tools supported by Artificial Intelligence to protect Blockchains users. Vulnerabilities are proactively dealt with before they become problems, keeping blockchains efficient and users safe while allowing for exponential growth.
“Wallet Guardian” protects Cryptocurrency and Digital Assets users’ wallets, providing “Do Your Own Research” with one click to detect malicious smart contracts before interacting.
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For information, partnerships, collaborations, integrations, investments, and more, contact: William De’Ath | Chief Commercial Officer | will@gbc.ai
