THELOGICALINDIAN - The barrage of Bitcoin as the aboriginal dedicatedly decentralized anatomy of bargain opened amplitude for reforms in the accepted banking arrangement After six years back its barrage the agenda bill has accustomed acclaim for simplifying all-around remittance bringing accuracy to minting business as able-bodied as bringing blockchain a decentralized recordkeeping technology
But admitting its advance as an alternating anatomy of money, Bitcoin additionally faced lashes from law and the bodies for bringing too-much anonymity to money barter businesses. Drug cartels aboveboard abolished Bitcoin as their break from “often-risky” banknote transactions, which somewhat simplified their agency to barter actionable narcotics. Terrorists went a little added and abolished Bitcoin for costs their bad-natured plots.
Despite Bitcoin’s accretion as a game-changing technology, its affiliation with abominable online activities larboard a cavity on its image, a acumen why governments feel that it — and every cryptocurrency that is created aloft utilizing its antecedent cipher — charge be heavily regulated. While some ability say that this is yet addition plan to access banking privacy, the basal affair of the absolute bearings can never be ignored.
This ability be the alone acumen why an alternating cryptocurrency alleged AtenCoin wants to about-face the spiral and become a government-friendly altcoin from day one.
As architect Marcus Andrade explains acutely in their contempo columnist release, AtenCoin has been created to be a absolutely cellophane cryptocurrency that cannot be activated for costs actionable activities online. The aggregation that backs AtenCoin, called the National Aten Coin Foundation (NCA), has spent aftermost two years alive to get adjustable with “Anti-Money Laundering (AML), Counter Costs of Terrorism (CFT), Anti-Fraud and Financial Crimes (AFF), Office of Foreign Assets Control (OFAC), Bank Secrecy Act (BSA), USA PATRIOT Act and the FACT Act.”
It agency that any merchant or user signing up to accept and use AtenCoin for online trading charge accommodate his/her accreditation for approval from NCA. This about doesn’t accomplish the bodies complex in a transaction arresting to anniversary other. The absolute identities of AtenCoin users will be kept with NCA, alone to be accessed and acclimated by the appointed law agencies.
“All the affidavit action accomplish are alive at the arrangement level, and the passwords of Aten Credentials are alone accepted by the Aten Coin users who created them and encrypted in the NAC’s system,” Andrade explained. “No one from NAC can apperceive passwords of those Aten Credentials. The affidavit agreement is congenital central the antecedent cipher of Aten Coin. In added words, no one can by-pass NAC’s affidavit system.”
In accession to this, AtenCoin promises to be faster, cheaper and added defended than Bitcoin.
You can apprehend added about AtenCoin here.
