Topic: [2015-10-17] Aten Coin – Improving The Bitcoin Protocol For Compliance Purposes (Read 467 times)

It will be interesting to see how they cross the divide between global and regional and how they deal with lawful identity requests.

I personally think that there are many who are not so much against regulation as a principle but who are rather against the fact that these regulations are usually not regulation as it should be but rather more draconian implementations of rules and regulations to benefit those who oversee such regulations instead of it being regulations to serve and protect those within the sphere the regulations were written for.

Regulations are always 'sold' as being there to protect you against all the dangers and most often these regulations provide little such protection if any at all. The powers provided through these regulations are more often than not also abused by those in power resulting in people in general having a negative sentiment against any form of regulations.

If regulations are done properly and for the right reasons few would be against it but the chances of that happening is slim to none as there are always ulterior motives when it comes to regulations.

I do like the concept of this Aten Coin. Many would hate the concept of having to first provide full details of who you are before you can even own any but it's really no different than opening a normal bank account where you also have to disclose who you are. I'm really in two minds about this. I like the idea of a 'bitcoin' type coin with the decentralised nature yet one that is accepted by all banks and institutions without any problems but I cannot but think about the 'abuse' factor that would eventually come into play with the powers that be knowing everything about you.

http://digitalmoneytimes.com/aten-coin-improving-bitcoin-protocol-compliance-purposes/

Regulation and digital seem to be at opposite ends of the spectrum at times.  While many digital currency enthusiasts feel that regulation is beneficial and ended, there are equally as many people who oppose the idea.  One digital currency, called Aten Coin, has taken the opposite route, as it is fully compliant with regulations, AML legislation, and is thief-resistant.