QLC Chain recently conducted a community Ask Me Anything (AMA) on the NEO subreddit and launched the Counter Telecom Fraud Platform (CTFP) on Friday, May 17th. The CTFP serves as an anti-fraud message tracking service that seeks to prevent telemarketing scams.

Community AMA on r/NEO

In the AMA, QLC Chain highlighted the implementation of its cross-chain interoperability protocol with NEO. Further, the team stated “the QLC Chain is ready for enterprise adoption” and that its solution “builds unique synergy with NEO in the communication industry.”

Many participants inquired about the distribution of QGAS for voting and miner nodes, each of which will earn QGAS on a “daily basis.” Token distribution also occurs as enterprise companies and financial institutions pay for QLC Chain services in QGAS.

QLC Chain’s MainNet currently operates with six mining nodes. To host a mining node, users must stake 1 million QLC tokens for at least one month, as well as implement the mining protocol.

Once the staking function is active, QLC Chain aims to deploy voting nodes. To become a voting node, users must stake their NEP-5 QLC tokens in a staking contract for a minimum of ten days. After May 28th, voting nodes are scheduled to begin receiving QGAS, via the Go-QLC wallet, proportional to their stake.

The QLC Chain team also responded to inquiries about Confidant, a privacy-focused hardware and application package that allows users to host private chat networks and cloud storage. Confidant aims to establish a peer-to-peer network that allows for end-to-end encryption. Further, a Confidant station owner can choose who is part of their network, and which users have access to specific files stored on the device.

Visit the link below to read the full AMA:

https://www.reddit.com/r/NEO/comments/bmx2f1/qlc_chain_ama_with_neo_community_on_may_16th/

Counter Telecom Fraud Platform

On May 17th, QLC Chain launched the Counter Telecom Fraud Platform on World Telecom Day. The CTFP allows financial institutions to build an Application-to-Platform (A2P) ledger on the QLC Chain blockchain.

The A2P ledger allows for financial institution customers to verify the authenticity of the sender of a message to avoid falling for phishing messages disguised as trusted phone numbers. QLC reported that phishing in this manner was on the rise, and noted that in China, “the total number of scam text messages rose from 650 million in 2015 to 1.82 billion in 2018.”

The platform offers a trusted environment for a financial institution to prevent SMS, telephone, and website content fraud.

The CTFP is the product of a collaboration between QLC Chain, Montnets, and the China Association of Communication Enterprises (CACE).

QLC Chain purports that it is the only blockchain company that currently offers such a platform. A video demonstration of the Counter Telecom Fraud Platform can be found below:

To read the full article visit the following link:

https://medium.com/qlc-chain/qlc-chain-helps-financial-institutions-protect-their-customers-from-telecom-fraud-losses-d5c4c751ca54