VIRTUAL CURRENCIES COMPLIANCE AND REGULATIONS REDEFINED… AMTL-MADE POSSIBLE.
Truth be said, the crypto currency market is becoming opportunistic as the clock ticks. More and more participants are indicating interest in the industry even against draconian regulations and oppression from governments of some countries. Research has revealed that the industry has the potential of becoming one if not the only means of transacting goods and services between one corner of the world and another, simplifying the way interactions is carried out in sharp contrast with the conventional methods. As a result of the sudden rise of the crypto currency, more participants are kicking to integrate the market with conventional financial institutions, so as to make the operations of the market better and more positioned to accommodate future challenges. One of the limitations of the crypto currency market is money laundering related issues as well as compliance of different crypto currencies platforms to stipulated modus in a bid to make the system better. In fact, reports has revealed that one of the reasons why the crypto currency market has not grown so much is attach to the simple and unarguable fact that the regulatory system of the market is not to the best interest of non-members of the industry and difficult for even active participants of the market. It was out of the need to have a well orchestrated regulatory system in the crypto currency industry that I ran into https://amlt.coinfirm.io/, a decentralized Blockchain technology-based platform.
The platform was created to deal with issues with regulating the way transactions are undertaken and as well as stipulations of the conventional financial institutions in a bid to commercialize the crypto currency market so as to make it better and convenient for members and prospective participants and investors. Countering Money Laundering and Terrorist Financing is not only anabove-board obligation but also anethical one. Without anticipation and control mechanisms on transactions money flows directly to illegal business, drug dealers, human traffickers,terrorists or weapon traders and puts the entire market and its participants atrisk. Hence the companies dealing with exchange of value via Blockchainshouldensure that they are not either knowingly or unknowingly exposed to, party toor facilitating such high risk transfers or counterparties. The lack of such basicrisk management may pose a breach of rules for the companies involved. To solve the afore-stated, the AMLT token of compliance was invented. The essence is to completely regulate the transactional processes of the crypto currency and ensuring that it is up to standard. AMLT is the token for prepaid products and access rights to the already vibrant network of the Coinfirm AML/CTF Platform.Coinfirm’s goal is to make AML rules a reality and to build the global standard for AML/CTF for Blockchainapplications. To get technical details of the platform and paraphernalia, download ‘White Paper’ at https://amlt.coinfirm.io/pdf/white-paper.pdf.
To give you illustration of how the platform intends to tackle the issue(s) of compliance in the Blockchain world, the sketch below provides a clue.
You will agree with me having seen the contents of the ‘White Paper’ that the project is a huge one. To allow the general public to be part of the platform and meet up the cost of funding the project, the platform is issuing ICO to allow participants to take part. The tokens will be spent, held and participants rewarded for the bold step to help the project see the light of the day. The AMTL tokens is built on the EthereumBlockchain and treated as standard ERC-20 to ensure security and convenience. The sketch below gives a brief outlook of how the smart contract procedures will look like when the platform is officially launched.
210, 000, 000 AMTL tokens will be available during crowdsale. 120, 000, 000 will be for date rewards pool for network members, which will be distributed monthly through the existence of smart contract. 10% of all fund gotten from crowdsale will be for founding team with lockup period, advisors will have 2%, 1% will be rewards for referrals, 4% for development team and bonuses while 0, 50% will go for charity, making it approximately 400, 000, 000 to be generated in smart contracts. Crowd-sale is coming up soon. To get update about ICO, sign up at:
https://www.facebook.com/AMLToken/
https://twitter.com/AMLT_Token
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