NEM Confident Of a System That Will Combat Skimmers Shimmers and Everyone Else In BetweenNovember 30, 2019
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NEM has been helping clients build the system they want, whether in the Fintech system, tracking logistics, ICO document notarization, decentralized authentication, and others.
The Smart Asset System from NEM helps businesses build a lot of real-world applications for real-world use cases. Any kind of business transaction can be built on the blockchain with minimal development.
The platform architecture of NEM is meant to facilitate flexibility and simplicity in the development process.
Catapult is the core engine of NEM representing the most secure and practical blockchain suitable for any kind of Business Data. Catapult is expected to bring in newer features that will improve speed and scalability.
Catapult is said to help with combating ATM skimming. The security and transparency of the blockchain are used to ensure automation and unbiased reporting from IoT. NEM is confident of coming up with a system that will combat skimmers, shimmers, and everyone else in between.
Placement of skimmers and shimmers with the proprietary IoT Skin on the ATM in a way to cover all areas of interest, including the inside of the cabinet, thus providing for context awareness. The system’s ability to detect and to react to the surrounding environment is known as context-awareness. There will be a monitoring device that will watch the IoT Skin for the changes in its outside conditions like pressure, light, and the distance of objects surrounding the ATM.
When the IoT skinner identifies unrelated objects near the card reader or keypad, the ATM owner is notified to examine the ATM for skimmers. To combat Skimmers, a part of the skill is placed inside of the card reader.
The IoT skin will have coding in place to differentiate between ordinary and fraudulent situations. Someone leaning on the machine for 30 seconds would not trigger an emergency; however, someone leaning for more than 5 minutes will trigger an emergency. The IoT skin has excellent intelligence coded to identify the context of the situation. The system differentiates between different situations and alerts the right parties.