London comp-sci study scores part-time gig
A payments firm has hired reformed LulzSec hactivist Mustafa Al-Bassam (formerly known as tFlow) for a new blockchain research project.
London-based payments group Secure Trading has taken on Al-Bassam to help develop a platform that applies the verification benefits of blockchain technology in order to improve the visibility and security of online payments.
Codenamed “Trustery”, the project aims to create a commercial platform.
Secure Trading approached Al-Bassam, who agreed to work for the firm part time while continuing his computer science degree at King’s College London.
Blockchain is arguably safer than current payment methods because it offers a verifiable record of transactions.
This facility, some experts such as Secure Trading argue, makes it easier to verify the source of payments and thereby reduce illegal activities such as money laundering, the thinking goes.
The firm is working with Al-Bassam to create a commercial platform to bring these security benefits of the technology to its customers.
Beyond the Trustery project, Al-Bassam will work closely with the payments group and its cyber security sister company, Cognosec, as a security adviser.
“Working with Secure Trading, I want to develop tools to make online payments safer,” Al-Bassam said in a canned statement. “The financial services industry has traditionally been a few years behind the curve when it comes to security practices.
Secure Trading is trying to get ahead with blockchain technology and create modern, secure and fit-for-purpose services for its customers.”
Kobus Paulsen, chairman of Secure Trading, said that payments are moving away from credit cards and e-wallets, and towards cryptocurrency technology, hence the firm’s decision to invest in a blockchain research project.
Secure Trading’s board members include former home secretary Lord David Blunkett, a non-executive director. ®
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