FinaCom Adds Pavlo Symonenko to Blockchain Expert Committee

The Financial Commission (FinaCom PLC) has onboarded Pavlo Symonenko as the latest addition to its Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term Expert Committee (BEC).

Symonenko is the founder of Integrity Trading Technology LTD, which provides business and software development services for companies in brokerage and financial industries. He brings over a decade of experience in the financial industry combined with in-depth expertise in the banking sector, including as senior manager for a branch and as a member of the credit committee in Ukraine.

Symonenko also served as CEO of Tbilisi Traders Club, where he was responsible for the global business development in the last two years.

Previously, he held several positions at several financial institutions including Pravex Bank, Forex Club, as well as Dukascopy Bank in Switzerland, among other roles for international firms.

Benefits of Blockchain association membership

Joining the Blockchain Association provides members with several benefits. Blockchain and related crypto applications have been a hot topic recently, with multiple industries exploring their possibilities and new blockchain use cases emerging almost every day.

Member firms also have the opportunity to consult with industry legal and compliance professionals. The membership helps blockchain firms solve common issues and questions arising from the physical exchange of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, storage of digital assets, regional regulations, and compliance in global markets.

Earlier this year, the BEC launched Security Audit Certification, which is designed to perform security checks and test various blockchain-based business and smart contracts to ensure that these functions meet the industry standards for security and data protection.

FinaCom has revealed its plans to approach cryptocurrency exchanges and ICOs with increased scrutiny, designating the industry as a high-priority one for the agency.

Commenting on the appointment, Financial Commission Chairman, Peter Tatarnikov, said: “Pavlo has worked with us in the past to expand our dispute resolution efforts for FX and CFD brokers and has recommended himself as a professional and leader in his work. Given his foray into blockchain and digital assets, it will be beneficial for our Expert Committee to receive Pavlo’s feedback on complaints received”.