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ivyKoin Cryptocurrency: Secure & Transparent Business Payments

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ivyKoin is a cryptocurrency on the blockchain that is designed to help business transactions. It specifically aims to help those who conduct business transactions over $10,000 since they need extensive verification as part of the international monetary system. ivyKoin delivers this necessary verification via an impressive number of Know Your Customer (KYC) and Know Your Transaction (KYT) information in every payment, much more than in any existing system today.

ivyKoin Website

Simply put, the team at ivyKoin says that the product has more data, is more secure, and has no delays. They said it is also trackable, cheaper, easier, and faster than the competition.

What Are the Advantages of ivyKoin?

Compared to traditional payment networks, ivyKoin has multiple advantages. At the top of the list is its ability to securely facilitate transferring crypto payments with the associated KYT and KYC data within a trusted network. Adding to the benefits related to KYT and KYC, ivyKoin also embeds more information on these aspects within the transfer and provides revocable access to that data for company managers, accountants, and financial institutions, among others, based on what information they need.

Additionally, ivyKoin securely stores immutable references to support the transaction data, thanks to the public blockchain. ivyKoin can be integrated into the existing banking software, making it easy to implement and improve security. It also offers simple integration with accounting software to improve bookkeeping efficiency.

What Does ivyKoin’s Architecture Look Like?

The ivyKoin Network will use dual network architecture. In this way, those who send tokens operate on the ivyKoin Public Network while those who provide financial settlements to fiat currency use the ivyKoin Private Network. The KYC/KYT/AML data that supports transactions is stored in cryptographic containers, which the ivyKoin Public Network generates because of interactions with the ivyKoin Network’s smart contracts.

ivyKoin Architecture

The ivyKoin Private Network will be made up of validation nodes, which are sponsored by outside entities. Additionally, this ivyKoin Private Network is directly validated by independent intermediaries and financial institutions that are aligned. The team at ivyKoin feels this should reduce the risk of network spam and provide aligned incentives instead of requiring block rewards.

ivyKoin plans to use a scheduled byzantine fault-tolerant algorithm, like the Istanbul BFT, for consensus. This involves each participant following a round-robin schedule to create blocks and submit their results. The network votes for a two-thirds majority to approve the block calculation.

How Does ivyKoin Work?

A transaction with ivyKoin begins when the sender tells the recipient they plan to pay BTC with the ivyKoin Network and IVYA, with both making accounts and providing KYC data. The sender will provide KYC data, such as the transaction type, bank-required documentation, and anything required by the recipient’s regulatory jurisdiction. The sender visits ivyKoin’s website to exchange their BTC along with any required fees for the equivalent amount in IVYA. The price will lock in for 10 minutes when the sender initiates the transaction. The sender can then confirm the IVYA quantity they will send and commit to sending it. The KYT and KYC information are bound with the IVYA, stored on a private distributed clearing network, and secured within the ivyKoin Data Container.

How it Works

The ivyKoin Data Container is sent to the ivyKoin Private Network for review and processing. The sender, recipient, or recipient’s financial institution can view the data. The sender’s IVYA sits in escrow until the recipient’s financial institution approves the transaction. This process goes more smoothly thanks to automated acceptance criteria banks generate for well-known recipients and senders. Once the recipient’s financial institution reviews the transaction, they can approve it. If it is denied, the sender gets their IVYA returned.

If approved, the ivyKoin Network redeems the sender’s IVYA, where it is converted into USD. It is immediately deposited at the recipient’s financial institution, which makes the funds available. Finally, the system generates a transaction record that the sender and recipient can view, as well as the recipient’s financial institution.

How Much KYC and KYT Data Does ivyKoin Use?

One of the biggest benefits of ivyKoin is its ability to collect more information that is specific to the transaction compared to traditional payment networks, as well as making this information accessible to financial institutions. In fact, ivyKoin has more than 70 KYC data points, dramatically enhancing security. By comparison, Bitcoin only has one, Swift has 10, Fedwire has 17, CHIPS has 9, and ACH has 10. Even if you combine all those systems, you won’t get as many points of KYC data as ivyKoin.


A similar pattern holds true for KYT data points, as ivyKoin has more than 120. By comparison, Core Transaction Information is typically only 74 data points, Shipment Information is 21 points, Commercial Contracts have 17 points, and nothing else comes even close.

What Are ivyKoin Data Containers?

The ivyKoin Data Containers mentioned are dxChain cryptographic containers that store KYT/KYC/AML data. They include metadata for the container and transaction, the submitted transaction details, the sender’s identity information, and any supporting attachments and documentation.

How Does ivyKoin Compare to Ripple?

Many compare ivyKoin to Ripple, as this is the closest peer to the new platform. ivyKoin plans numerous improvements over Ripple and other existing altcoins, setting it apart. The core design of Ripple does not include KYC, KYT, or AML. ivyKoin not only includes them but also is designed to break the data point barriers that stand between the current financial system and crypto.

ivyKoin vs Ripple

While Ripple does not have any KYT or KYC data associated with its cryptocurrency, ivyKoin includes as many as 74 KYC and over 120 KYT data points, plus customer files in each transaction. Despite being a cryptocurrency, Ripple uses a centralized system for transaction validation. However, ivyKoin enhances decentralization with a decentralized system for transaction validation.

Finally, Ripple and other public coin economics are not transparent, including large and privately held reserves. ivyKoin takes a different approach, driving the public coin economics with its utility transaction volume, which you can see on the public ledger.


ivyKoin aims to enhance the way that businesses conduct transactions with added security and the ability to attach additional information. Specifically, ivyKoin provides previously impossible levels of KYC and KYT data, ensuring that everyone involved in a transaction has the information they need.

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Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact

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