LDJ Cayman Fund Ltd, an offshore investment arm of LDJ Capital’s Venture Capital (VC) Division, announced its $3 million (USD) investment in Starcave Global, a Hong Kong-based company that provides financial cybersecurity, digital payments services and technology.
The current centralized structure of the payment and financial system does not do enough to prevent incidents of hacking, fraud, and accidental payments. Starcave is rebuilding these systems and structures to be hack-proof, relying on MCCX-powered services such as its unique Color Code Technology, Ghost Wallet, Ghost Payments, Ghost Card, MCC app, and Starlight app.
LDJ Cayman Fund’s investment affirms the potential of the MCCX project to address weak security and vulnerable technologies in the existing financial services and payments space.
“This new partnership with Starcave Global is dynamic and exciting, because the Ghost Wallet project brings one-of-a-kind patented fintech solutions to a highly secure environment for digital transactions, moving away from binary systems that redefines how we view financial and payment security,” said David Drake, Chairman of LDJ Capital and CEO of LDJ Cayman Fund. He added, “This best-in-class patented payment processing is – if you can imagine – similar to Google Pay. Your credit card number is never revealed as a temporary payment code is always displayed.”
The Ghost Wallet platform also has a brilliantly conceived interactive layer of security. The user’s smartphone will show a color grid box for the signature pattern with hundreds of different colors. In this grid, a single color would have 10,000 different variations – the orange color can have thousands of variations but every color variant is distinct. Each signature corresponds to a color code security combination; users can create trillions of possible security combinations. The signature creates a unique and temporary last mile color code right before a payment transaction for purchases like coffee from Starbucks. Harrison Park was inspired by God’s light as a devout Catholic. With the divine and beautiful creation of colors from the fractions of light from God, Park and his team was able to develop this breakthrough Color Code Security technology.
Harrison Park, Chairman of Starcave Global said, “LDJ Cayman Fund’s investment in Starcave Global signals that the market is ripe for our innovative solutions that answer the call for higher security, particularly for fintech payments and crypto transactions. The security gap that our technologies are poised to solve, brings us closer to a truly immutable ecosystem powered by blockchain. When users have better control of their payment transactions, and their identity is hack-proof, then Ghost Wallet has done what it has set out to do.”
According to Ted Ko, Starcave Global CEO, “The Color Code Technology that powers Ghost Wallet provides a higher level of security is nothing short of revolutionary. Color Code Security enables the users to draw any pattern on a mobile color grid to form a combination of colors which provide nearly infinite possible combinations. The generated color code is unique and temporary for just a very short time of 60 Seconds. Every color represents a specific value, and it’s not reusable or replicable, making it ideal for preventing any hacking attempts.”
Starcave Global Director Eddy Kim said, “The Color Code Security System serves as the backbone of Ghost Wallet and its solutions. Our team focused on developing our platform and solutions utilizing the Color Code Technology to provide the users with ease and a high-level of security in every transaction.”
The Color Code Security System is applied as a security function for the Ghost Wallet platform. Ghost Wallet is a platform and an e-wallet where users can keep their cryptocurrencies and use for transactions in the Ghost Wallet ecosystem. Ghost Wallet also supports the payment system called Ghost Pay where users can conveniently transact and manage their assets safely with the help of the color code system. Ghost Card is available as a traditional card that can be used worldwide and offers another layer of security of assets.