VERA and cheqd to launch secure messaging for business, powered by blockchain

The VERA communication platform takes advantage of blockchain technologies to provide identities verified to B2B messaging.

Business communication is faced with important security challenges, the imitators taking place. For this reason, on Tuesday, June 10, the B2B communication platform based in South Africa Vera announced plans for a secure messaging platform powered by Blockchain technology.

The platform, initially focused on South Africa, will allow commercial users to verify their identity, helping businesses avoid crooks, who send an estimate 3.4 billion Fraudulent emails daily. The identity verification will be managed by the CHEQD identification information service.

“At Vera, we believe that secure communication should also be verifiable.

Once users have checked their contact details, they will receive a digital identity recorded on the blockchain. According to Vera, this will allow instant verification and guarantee that the identity is unexpected and immutable.

Companies are faced with increased risks of crooks

The secure chat platform aims to protect companies from common scams. Fraser Edwards, co-founder and CEO of Cheqd, underlined the false invoices as a single vector of attack.

“Vera solves a real problem that affects us and each company in the world: fraud of manipulation of invoices. Each week, we receive invoices by email trying to defraud us. Vera’s solution guarantees that each company and individual on the platform are verified ”, Fraser Edwards, Cheqd.

Africa faces a particularly high risk of fraud and phishing attacks. According to a report By the Cybersecurity Company Check Point, one in 15 organizations in Africa experienced a ransomware attempt every week in the first quarter of 2023. In response, Vera leads a beta launch focused on South African companies. The company plans to go online by the end of August, with the expansion of the EU, the United States and the United Kingdom to follow.