SoLVBL Solutions

Overview

SoLVBL Solutions (CSE:SOLV) is a technology company developing software as a service (SaaS) products designed to provide authenticity and security to existing data management systems, specifically digital financial platforms and information databases. SoLVBL is focused on developing data management and protection solutions designed for businesses with sensitive data worth forging, with potential applications in a number of industries.

The company’s flagship product, Q By Solvbl, is designed to encrypt and store a representation of the data, allowing seamless cooperation between businesses and users. By cryptographically sealing a representation of the data, rather than the data itself, SoLVBL is able to remain data agnostic and maintain an additional level of security. Q By SoLVBL can be used as a digital payment instrument, a means of fraud protection, or as a central authority for verifiable data repositories.

Q By SoLVBL is an enterprise-level data protection platform capable of processing over 150,000 transactions per second. The platform is offered through SoLVBL’s SaaS business model, which the company intends to expand through additional product offerings that leverage the Q by SoLVBL digital infrastructure. Q By SoLVBL is backed by a private blockchain to ensure the credibility of the data on the platform. By providing an immutable record of all data used, SoLVBL is able to operate the platform through compartmentalization without having direct access to the data itself, providing an additional layer of security.

The Q By SoLVBL system is designed to enable secure digital payments for existing banking systems. The company’s fraud prevention system was designed with incidents like the notorious Bangladesh bank heist in mind. The heist saw hackers withdraw over US$81 million from banks using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) system, demonstrating the need for financial institutions to keep pace with the technological capabilities of hackers and cybercriminals.

SoLVBL Solutions’ Company Highlights

• Global fraud detection and prevention market is expected to grow from US$19.5 billion in 2018 to US$63.5 billion by 2023 at a CAGR of 26.7 percent
• Q By SoLVBL leverages a private blockchain to ensure an immutable representation of the data, without giving actual file access
• Representation of the data is cryptographically protected, ensuring all parties can rely on data presented on the platform
• ‘Q’ Platform can be adapted for additional security applications including the SWIFT network, B2B transaction improvements and data repository solutions
• Q By SoLVBL is capable of processing 150,000 transactions per second based on trials conducted by the company using the cloud