Cryptocurrencies have been around since the launch of Bitcoin in 2009, which today remains one of the most popular on the market. Concerns about cryptocurrencies have been expressed by Bill Gates, who pointed out that the anonymity of cryptocurrencies directly led to their use in arenas such as money laundering, funding terrorism and tax evasion. This reputation of cryptocurrencies being a tool for avoiding scrutiny from government officials and law enforcers has been enhanced by the fact that at one point, Bitcoin was the only accepted currency in the marketplace of the Dark Web, which is notorious for illegal activity. The words of Gates may be true to some extent, but emerging new technologies such as those offered by DasCoin call into question the ongoing validity of this statement.
Decentralised Hybrid Blockchain Technology
DasCoin has become known as the Currency of Trust, utilising innovative hybrid blockchain technology to create a cryptocurrency system that, while guaranteeing privacy, does not let users operate anonymously. Significant protocols are integrated into DasCoin to avoid precisely the negative utilisation Gates was talking about. DasCoin uses an identification process that is already a proven banking standard called Know Your Customer. Use of the DasCoin WebWallet requires confirmation of identity through the request of documents or copies of documents, enabling the system to fully verify each user while also allowing access to the highest network security levels. The foundations are already in place for the DasCoin system to work not only with existing financial regulations, but also future changes, making it a platform compatible with payment solutions across the globe.
Anti-Money Laundering Compliance
The DasCoin platform is not only secure and future-compatible – it is also fully Anti-Money Laundering compliant. AML compliance applies on a global level to all procedures, regulations and laws that have been put in place to prevent the practice of income generation by illegal means. DasCoin has demonstrated a commitment to doing everything possible to maintain AML compliance, removing many of the previous concerns about the use of cryptocurrencies to fund illegal activity. Up-to-date security measures at DasCoin could soon see the fledgling hybrid cryptocurrency entering the mainstream.
