GreenCoinX Inc, the developer of the world’s first identifiable cryptocurrency, has recently announced that it has upgraded its cryptocurrency identification to full “Know Your Client” (KYC) standards. All GreenCoinX users will now meet the same identification standards as the banking community.
“In sharp contrast to bitcoin and all other crypto currencies, the new KYC standard of GreenCoinX alleviates the concerns of both governments and users that crooks and terrorists can use crypto currency to hide their activities. All GreenCoinX users have to be fully identified before usage, so bad actors will not use GreenCoinX”, said Danny Wettreich CEO.
The company said that it will soon launch its ecosystem which includes an identifiable cryptocurrency, a free online wallet, and a free online crypto currency exchange.
GreenCoinX has also addressed currency stability via a treasury function, and blockchain longevity by way of the non-profit Digital Foundation which ensures miner rewards over the next 145 years.
For using GreenCoinX:
Users need to open an online wallet at www.xgcwallet.org.
For opening a GreenCoinX wallet for the first time, users will be required to complete an online KYC verification process – they have to upload copies of a passport and other identification documents.
Once approved, users will receive a unique KYC identification number which is used to complete the wallet opening procedure.
It further said that the same KYC verification process is completed with the GreenCoinX mobile wallet for Android devices, and the GreenCoinX technical wallet which is used by miners and retailers. The KYC verification is processed by www.KYCGlobal.net which is the exclusive KYC portal for GreenCoinX.
Source: http://www.econotimes.com/GreenCoinX-Users-Subject-To-Full-KYC-Standards-156497
This is very interesting, a whole different model for cryptos. What do you guys think?
Topic: GreenCoinX Users Subject To Full KYC Standards (Read 384 times)
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