Learn about Ethereum blockchain development
If you are new to the blockchain technology, taking our Introduction to Blockchain Technology self-paced course is highly recommended. Also, for a comprehensive coverage of blockchain development in Ethereum or mastering Solidity programming, taking our below self paced courses is highly recommended:
In our previous article ( Review of 100 DApps that Run on Ethereum Network), we discussed 100 DApps running on Ethereum.
In this article, we learn anti-money laundering and Know-Your-Customer requirements while building Ethereum applications in the Fintech.
As DeFi applications become more and more mainstream, it certainly raises more and more regulation and compliance concerns from governments all over the world. The blockchain and cryptocurrency community should be prepared to work with financial regulators and develop solutions to address such thorny issues.
One that's close to watch is the Anti-Money Laundering (AML) law. According to Sec.gov, financial institutions are required to establish an AML program, which is a formal program within the institute that establishes reasonable policies, procedures, and internal controls to comply with Bank Secrecy Act rules. They also need to set up risk-based procedures to Know Your Customer (KYC) and conduct due diligence throughout customer interaction with the institutions.
KYC is the ability to verify the identities of your customers, assess their suitability as a customer, and know about the potential risks of illegal intention toward the business relationship. The idea of knowing your customers throughout the time they are with you is to detect and deter any activities related to money laundering, terrorism financing, and more run-of-the-mill fraud schemes.
There are a lot of debates in the cryptocurrency community about compliance with AML and KYC rules and their impact on innovation and efficiency. Currently, only a small percentage—around 15%—of cryptocurrency institutes are establishing the program to tackle such issues. More rigorous solutions in distinguishing lawful and unlawful financial transactions in the virtual world have yet to come.
In our next article ( Integration of Ethereum with AI, ML and IoT), we discuss how to integrate Ethereum with Artificial Intelligence, Machine Learning and Internet-of-Thing technologies.
This article is written in collaboration with Brian Wu who is a leading author of “Learn Ethereum: Build your own decentralized applications with Ethereum and smart contracts” book. He has written 7 books on blockchain development.
Here is the list of our free webinars that are highly recommended:
Here is the list of our 10 free self-paced courses that are highly recommended:
If you like to learn more about Hyperledger Fabric, Hyperledger Sawtooth, Ethereum or Corda, taking the following self-paced classes is highly recommended:
If you want to master Hyperledger Fabric, Ethereum or Corda, taking the following live classes is highly recommended:
If you like to learn more about blockchain technology and how it works, reading the following articles is highly recommended:
If you like to learn more about blockchain development in Ethereum with Solidity, reading the following articles and tutorials is highly recommended:
If you like to learn more about blockchain development with Hyperledger, reading the following articles and tutorials is highly recommended:
If you like to learn more about blockchain development on Corda , reading the following articles and tutorials is highly recommended:
If you like to learn more about blockchain development in other platforms, reading the following articles and tutorials is highly recommended:
We offer private custom tutoring classes both online and in DC, MD and VA for almost all of our courses or bootcamps. Give us a call or email us to discuss your needs.
$90 Regular
$50 Limited Offer
REGISTER NOW