Digital currency scrambles with regulatory compliance and
faces the problem of reaching the mass trading market and conventional banking.
The worldwide problems like counter terrorist financing and anti-money
laundering for digital currencies needs to be tackle down for easy trading.
The entire market and it’s contributors are at peril due to
these muddles. All the money proceed to illegal markets, drug traders,
terrorists, human barters and weapon dealers. Therefore the companies that deal
with exchange of money through blockchain should make sure that they are not
manifested to such hazardous transfers.
Even when you are agreeing to receive digital currencies in
your online bookstore, the money may come from sources which you don’t want to
be subject to and can put you at high danger. There is also a possibility that dealing
party knowingly or unknowingly is obtaining their funds from illicit
All these problems together are slowing down the speed of
The current solutions for issues like anti money laundering and counter
terrorist financing (AML/CFT) are unsuccessful and still need to be more
advanced. All the concerned institutions are spending a huge amount for
countering these challenges. However, the solution must be a universal stage
that counters these issues worldwide effectively.
A constructive solution is needed that deals with all the
challenges given to the digital currency market and traditional business. All
the concerned institutions relating to virtual currency markets need to grasp
the intensity of such risk.
The solution for these risks is here. A fundamental,
uncomplicated and simple solution has been found by the entire ecosystem. These
issues have been countered by the Coinfirm’s dais in an unusual way, with
practical structure and more coherently. It has been tackling these issues in
such a way that lessens price and has redefined compliance overall. This
platform is currently in the process of incorporating with popular blockchains
and works for three main virtual currencies like Bitcoin, Dash and Ethereum. It
is now taking further strides to advance the virtual currency and blockchain
system with AMLT.
Web of players
AMLT will be executed into a resonant web of players and
would deliver a strong foundation with lucrative business embracement.
RegTech has a very vast scope and deals the problems of
FinTech, industries and economics. It aims to qualify an efficient, safe and
better way of transferring value for the individuals and industries.
Answer of Difficult
The anxious market faces alot of issues of money laundering
etc and AMLT is the soultion to it.
It is a global standard dealing with all these problems at a
Through this, it is easy to use data access point.
It is an independent system and needs no additional effort.
It is very easy to station in traditional sectors.
It is commercial and can be adopted safely.
It collects the data from blockchains and further improves it.
For this purpose, a department of experienced researchers has been built in. It
collects external data from internet, deep web, leaked data and network nodes.
All the collected data is then dealt with big data analysis.
The data collected is matched with the data of other sources. Flags
demonstrating danger are allocated on the addresses found to be used in illegal
activities then it looks for user profiles that are high-risk.
The diagram below shows the entire process
(Paste the diagram of page 32)
All the structured data is provided to the platform users in
the form of reports. In these reports are the data containing risk score,
transaction recommendations, entity’s name, profile, risk meters, financial
bustle and whitelist of whether the user is trustable or not.
Risk Indicator aka
It’s an internal risk rating indicator which indicates the
level of swindling, money laundering and compliance risk. The identified block
chain addresses are assigned with 0 to 99 C-Score Where the higer score means
more risk. The overall process is presented below:
AMLT- The power
The main motive of AMLT is to function as a token that grants
ingress to the coinfirm and the services that it provides. The platform accepts
payments in cryptocurrencies. All the acquisition is performed using AMLT.
It was designed to perform actions not only related to
blockchain entities but also banks, large commercial industries and financial
The participants who want to purchase AMLT and become a
member of its network have to go through a specific procedure.
Some conclusive benefits like access to rewards and access to
AML/CFT training resources would be provided to the network members holding a
specific amount of AMLT.
A member would be qualified for membership if he holds at
least 50,000 AMLT and agrees with the terms and conditions of network members.
Hence it’s a very reasonable and safe platform for