Alternative Approach to Cryptocurrency Regulation

The topic of crypto regulation has been raised for many years in a row since the authorities saw the huge growing popularity of alternative financial instruments. Some countries are trying to ban crypto transactions, while others, on the contrary, give the green light. But it is impossible to say that the world has formed a clear legislative base on this issue. Cryptocurrency laws change almost every year, making the owners of crypto assets nervous.

The issue is especially acute for companies that invest in or accept cryptocurrencies from clients. Accounting, reporting, and taxes in this case require legal departments to be attentive and flexible so as not to get into trouble. But there is a second option – to entrust it to a third party, which has more experience, tools, and approaches to issues of crypto regulation and the provision of new decentralized financial instruments. And if this company knows how to provide services to individuals, that’s great.  And today we will talk about one of them. 

Meet VAIOT, the blockchain-based artificial intelligence project offering revolutionary automated services and transaction solutions for businesses, consumers, and the blockchain space. VAIOT offers new intelligent services and is paving the way for the regulation of blockchain solutions, being the first-ever VFAA-regulated digital asset by the Government of Malta. Notably, VAIOT’s native digital asset, the $VAI token, is fully regulated and classified as a ‘Virtual Financial Asset” under Maltese law. VAIOT’s token, solutions, and the team have undergone regular audits by independent auditors and were verified by the Malta Financial Services Authority and VAIOT’s VFA Agent – Grant Thornton, in line with the Virtual Financial Assets Act.

What does the company offer to individuals and legal entities?

  • Providing an innovative solution for the new digital real estate landscape.
  • Integrates Artificial Intelligence and Blockchain to create new ways of digitally accessing services and securely concluding legal agreements using an intuitive user interface. 
  • All of VAIOT’s transactions are supported by Intelligent Contracts, an enhancement of the concept of blockchain smart contracts by enabling the creation of legally binding agreements (both printable/ ready to sign and digitally stored on the blockchain). 
  • Acts as broker and aggregator for various other products such as insurance offers. All while utilizing a vastly improved user experience through VAIOT’s proprietary natural user interface.

VAIOT recently became the first regulated blockchain project in Malta to use the Binance Smart Chain (BSC) Bridge. BSC is a new type of blockchain providing fast and cheap transactions with support for many protocols and functions. Thanks to this important step, the company now provides opportunities for investing in digital assets, protecting investors and token holders from the risks of scams and market manipulation.

But this is far from the only advantage of the company! VAIOT has partnered with IBM, is working with Belgian retail chain Super Bazar on AI and Voice Commerce, and has announced a partnership with the MILC project led by European media leaders. 

To understand the potential of using VAIOT ideas, you need to understand the tools that the company can provide to partners and customers.

VAIOT Technology

AI Virtual Assistant – A professional tool representing the ideal natural user interface for the creation of Intelligent Contracts and acquisition of products and services within the new digital service distribution channel

COSMOS SDK – An open-source framework for building Blockchain in an application-specific manner. Through COSMOS, VAIOT leverages its own proprietary AI Solutions.  VAIOT Code Generation Engine (VGCE) – When combined with AI, VGCE allows for the automatic conversion of an abstract description into an executable program, based on Blockchain.

VAIBC – VAIOT’s proprietary distributed network, where AI and Blockchain are inseparably linked. AI algorithms, settled on-chain and taking part in the consensus algorithm are necessary for the 

Intelligent Contract generation process. Blockchain ensures that every network participant is certain about the decisions made by the AI and ensures that it cannot be manipulated or influenced from outside of the network. Both technologies have multiple dependencies within VAIBC.

IBM Watson – One of the most recognized business solutions, utilizing the latest innovations in machine learning to support automation and optimization of complex processes. Watson’s components allow for the development of VAIOT’s advanced proprietary algorithms that are the foundation of the VAIOT platform.

Future use cases

Rumor has it that VAIOT is trying to solve the Canadian immigration issue by automating some elements of candidate selection through the introduction of AI. The Canadian government is now gradually adding AI solutions to the immigration sector and it looks like VAIOT can help make a big move forward in that direction!

The company recently introduced blockchain in two more directions: AI Broker and Aggregator. The Broker for Blockchain platform is based on advanced artificial intelligence technology built on IBM Watson, fully focused on simplifying insurance purchases, maintaining personal preferences, and providing the best possible user experience. The aggregator will become a new digital marketplace for crypto insurance providers.

The platform also lets you compare the price of insurance and gives a complete and extensive overview of the crypto insurance market. Furthermore, the AI continuously conducts chain analysis, warning you about potential vulnerabilities in your portfolio so you can be ahead of the curve and insure assets. The user has full control over their crypto portfolios and insurance through VAIOT’s Intelligent Contracts, an enhancement of blockchain smart contracts that will act as a digital receipt and proof of transaction.

It’s all but confirmed VAIOT has added several leading service providers to its platform and is simply awaiting an announcement. The future for VAIOT is promising, whether it be the regulatory angle, rumors of government adoption, or an active use case being delivered this year; VAIOT is paving the way for blockchain projects to conduct operations with legitimacy in the battle towards global adoption.