Blockrails™ was borne from an attempted $18 million wire transfer fraud.
A hacker committed Business Email Compromise (BEC fraud), changed bank account information shared via email, and attempted to redirect an $18 million wire transfer.
While the wire transfer hack was prevented, that incident was an industry wake-up call reaffirming $25 billion in wire transfer fraud over the last 3 years is only a worsening situation for business as cybercriminals become wiser.
Blockrails™ was conceived, designed and built to address this problem, using machine learning at its core, ensuring the true identity of every party in a transaction.
Stopping hackers before they hack, users can now have peace of mind their transactions are fully secure with Blockrails™.
Experience Security + Scalable Efficiency
Blockrails users experience the advantage of consolidating application services with automated security. Validate parties in a transaction, securely share documents, engage in private, secure communications, and perform safe, secure and compliant payments. All within a single, turnkey and highly secure environment.
We solve the first mile of transactions, and arguably the more neglected aspect; detection, prevention and elimination of potentially fraudulent parties. Banks will guarantee transfers, and Blockrails™ ensures all payment parties are valid and safe.
Our mission is to give peace of mind that not only are you protected and safe in your payments and transactions when using Blockrails™, but that every Blockrails™ user is contributing to greater sustainability for our planet through renewable energy, cloud efficiency, water stewardship and improved climate action.
We envision reducing the billions in mortgage wire payment fraud, commercial payment fraud, and transaction fraud to as close to zero as possible.
Blockrails CEO Jason Bennick is also President of Digital Innovation Group Holdings and a 25-year technologist, MIT Startup and Blockchain alumni, seasoned startup founder and industry leader in building innovative business solutions.
Blockrails CTO Darryl Maraj is also Head of Technology at Digital Innovation Group Holdings, and a 20-year business technologist with an aptitude for matching core business initiatives with future proofed technology solutions.