14 Aug Crypto Founders: Rashid Hoosenally, FlowOS
As the crypto industry matures many scale-ups are facing the operational burden of connecting into multiple service providers. A new platform from the team at Lacero has recently launched to tackle the issue head on. With one of the largest liquidity providers B2C2 signing up straight out of the door, we spoke to Rashid Hoosenally to find out what makes FlowOS so compelling.
Many crypto businesses are now dealing with a complex network of services. It is quite common that a single enterprise will need to integrate with exchange APIs, bank APIs and multiple wallets, among other things. Often a company can find it is working with several transaction approval platforms and managing multiple trusted parties alongside the associated security risks.
FlowOS is designed to alleviate this burden by providing a control platform through which companies can manage access and conditions across all wallets, keys and API’s. FlowOS is specifically designed to allow institutions to set up the most granular master policy through which they can manage permissions across an entire network of partners, service providers and staff.
The future of finance
Coming from a 25 year career in investment banking, sales and trading Rashid has seen first-hand how important it is to manage operational risk.
‘I’ve seen banks get into trouble because they didn’t manage their interoperability or weren’t flexibile enough. Having that plug-and-play capability from the beginning is invaluable and precisely what the crypto market needs right now. In designing FlowOS we are empowering businesses to connect with one another, remain agile and secure and ultimately manage their costs and scalability’
The platform offers up pre-set contracts to quickly and easily assign permissions to the right people in the right roles. A configuration engine allows users to punch in their unique requirements, for example office hour restrictions, approval sequences, white listing and custom requirements. Once the policy is set up it can be assigned to specific APIs.
FlowOS utilises a combination of Ethereum smart contracts with advanced cryptography to provide a decentralised and tamper-proof architecture. All smart contracts have been audited and certified to give surety of control and peace of mind in this oftentimes tumultuous ecosystem.
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