Is It Time to Welcome Aten Coin, a New Bitcoin’s Alternative?

Photo: AtenCoin

Bitcoin has been a contradictory currency from the very beginning. There are people passionate about it while there are those who are not tired of reminding everyone of volatile nature of the cryptocurrency. Bearing in mind multiple hacks and the war going on over the block size, can we say that the time to search for a new digital currency might have come?

Bitcoin’s reputation turned out to appear at stake after Mike Hearn, one of the most prominent bitcoin leaders, publicly called bitcoin a failure. He talked about the cryptocurrency as an experiment that has failed.

“What was meant to be a new, decentralised form of money that lacked “systemically important institutions” and “too big to fail” has become something even worse: a system completely controlled by just a handful of people. Worse still, the network is on the brink of technical collapse,” he said.

Bitcoin price at once felt the impact from Hearn’s statement. It rapidly fell below a $400 level. However, soon bitcoin industry witnessed the first time in bitcoin’s history when the total network hash rate has crossed the one quintillion, 1018 or one exahash per second benchmark. This was perhaps the strongest proof that bitcoin is alive and its supporters are still very much committed to holding up the network.

So knowing all drawbacks of bitcoin, what alternative can we have? There is Aten Coin striving to take his place in the digital currency space.

Aten Coin’s team is engaging governments from around the world and creating dialogue. Allegedly it has found support from countries that are interested in digital currencies but don’t like the anonymity that bitcoin offers. The new currency is announced to be anti-theft. It is possible to identify the owner of Aten Coins at all times. Thus even if they were stolen, the location of funds would be defined and the coins would be frozen.

Just like bitcoin, Aten Coin is decentralized, but at the same time it is very transparent and aims to become a currency that is accepted by governments.

Aten Coin’s team has already conducted its first conference in Warsaw, Poland. The list of more than 100 attendees included government and banking professionals from the region, while the CEO of Groupon was a speaker at the event.

There is no confirmed information about who is standing behind Aten Coin. Rumors are flying that the CEO of NAC the National Aten Coin Foundation might be Marcus Andrade. As if the company has raised an undisclosed amount through private funding and is going to reveal its marketing plan about mass adoption soon.

Bitcoin has already found support and its “target audience” while Aten Coin only has it ahead. Now it’s too early to compare two digital currencies having almost no reliable information about one of them.

Can a Privately Regulated Public Blockchain Boost Bitcoin’s Legitimacy?

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With the recent false accusations by various media outlets regarding the involvement of Bitcoin funding the terrorist attacks in Paris, a new topic of discussion has been creeping up among the community members. One of the ideas being talked about is how Bitcoin should do more to prevent these terrorist allegations, and take things one step further to ensure the digital currency can not be used for illegal purposes.

Also read: How to Explain Bitcoin to Your Family This Thanksgiving

Addressing the ‘Criminal Exploit’ Factor of Bitcoin

Bitcoin.com Bitcoin Criminal ActivityEven though Bitcoin and its underlying blockchain technology present a multitude of positive aspects, there are some concerns to take into account as well. On the one hand, it’s quite powerful to use a digital currency allowing users to send money around the world in a matter of mere seconds, with little to no transaction costs for doing so.

On the other hand, however, this also poses a risk to misinterpret the use of Bitcoin transactions. Funding terrorism attacks with Bitcoin is not impossible, although it’s still unclear as to whether or not this has ever happened in the past. 

Regardless of how Bitcoin is used, the topic of how developers can prevent the usage of digital currency for illegal operations deserves further consideration. Achieving that goal is not as easy as anticipated, though, as Bitcoin is designed to be a global currency used by anyone for whatever reason. Changing the core technology of this digital currency is not something that can be done overnight.

Addressing the semi-untraceable nature of Bitcoin can play an important role in this process. Even though the blockchain allows anyone in the world to track Bitcoin payments from origin to destination in real-time, the digital currency takes on an “anonymous” aspect according to the outside world.

Private blockchains, also known as “permissioned blockchains,” or “bankchains,” are not the answer either, however. A balance has to be found between the transparent nature of blockchain technology and retaining a certain level of user privacy. The concept of a proprietary, privately regulated public blockchain could be an option well worth considering for the [near] future.

Privately Regulated Public Blockchain?

Bitcoin.com Bitcoin Stop TerrorismHaving the words “privately,” “regulated,” and “public” in the same sentence may sound quite awkward, but there is some merit to this idea. Unlike what most people might think, a private regulated blockchain would take nothing away from the openness and transparent nature of Bitcoin’s blockchain, as it would rather bring additional tools to the table.

The community will always remain in control of a blockchain as there will never be any central authority taking control. But at the same time, a feature could be developed that will help trace and track identities of individual network users when necessary. Especially where KYC, AML and anti-terrorism compliance is concerned; such an addition could help shape Bitcoin’s legitimate image.

While a privately regulated public blockchain would require major edits to the Bitcoin source code, the concept would allow for the creation of a personal identity-linked credential authentication protocol. Many companies and institutions are exploring the boundaries of blockchain technology, and creating a new authentication protocol would be an excellent use-case.

Many bitcoin users are drawn to this digital currency for its pseudonymity, and the change to private regulated public blockchain will not change that aspect. What it will do, however, is allow regulators and government officials to determine someone’s identity when they feel the need to do so.

Some people may argue this would be a bad idea, and how it would remove Bitcoin’s pseudonymity altogether. While others may argue this would be a positive change to give Bitcoin a more mainstream appeal. It is up to the Bitcoin developers to think of a way to combine pseudonymity with the option to track individual identities in such a way that [nearly] everyone is pleased with the outcome.

Aten Coin Shows How This Can Be Achieved

Bitcoin.com Aten CoinCreating anti-terrorism technology is nothing new in the world of digital currencies, though. Aten Coin is the only currency to achieve this goal so far, and its underlying technology is copyright protected in the US, as well as patent pending in the EU. That being said, their team has made the concept of a privately regulated public blockchain work so far.

National Aten Coin Foundation Founder Marcus Andrade stated in a press release:

“As senders and receivers of all transactions can be revealed, any thieves or hackers who steal the Aten Coins can be easily traced and tracked by retrieving personal identities of the receivers from the client information database.”

“Moreover, the credential authentication mechanism behind Aten Coin allows a user to change the credential to stop coins being transferred out from a stolen wallet. As a result, NAC’s invention can prevent atencoins from being stolen,” he added.

Whether or not private regulated public blockchain technology will ever become a part of the Bitcoin source code remains to be seen. It would be an interesting change; that much is certain. But at the same time, developers have to keep the core values of Bitcoin in mind as well, and the community’s opinion should be weighed carefully.

What are your thoughts on introducing privately regulated public blockchain aspects in Bitcoin? Do you see a different solution? Let us know in the comments below!


 

Source: News Tip/PRNewsWire

 

First Aten Coin Conference Held in Warsaw, Poland a Major Success

The First Aten Coin Conference held in Warsaw Poland October 28th 2015 was a major success. There were over 100 attendees that came from all over the world. Those in attendance came from very diverse backgrounds from government officials, those working in the financial sector, investors, merchants who will accept Aten Coin as payment, to those who were just interested in Aten Coin and how it will become a global currency.

There were a couple of interesting panels where the issues digital currencies will have in the future with KYC/ AML policies.

The concept that all bitcoins were tainted with illegal activity previously and this is something governments could not get past.

Founder Marcus Andrade presented Aten Coin in front of a packed crowd. He described the advantages Aten Coin has over other digital currencies with the ability to know who holds each coin at all times. The NAC (Aten Coin Foundation) The NAC plans on working directly with global governments to report any suspicious activities that may occur.

About Aten Coin

Headquartered in Las Vegas, Nevada, National Aten Coin (NAC) is the creator of the Aten “Black Gold” Coin, a cryptocurrency (a form of electronic money) and its global payment transaction network. The official website of Aten Coin is AtenCoin.com. While maintaining privacy of customers, the NAC utilizes proprietary techniques to verify ownership of coin holders, secure and monitor transactions, trace and track identities of senders and receivers, keep recordkeeping efforts transparent, protect coins from stealing.

For more information please visit: AtenCoin.com, AtenPay.com and AtenWallet.

Image taken from http://www.traveltoeasterneurope.com/

Aten Coin Conference 2015 Recap

With over 100 people in attendance the first annual Aten Coin Conference drew in quite a large crowd.  With the venue being located in Warsaw, Poland, it was fairly accessible for people all over the world to attend this conference.  But what makes this group of attendees even more interesting is how they represented a wide diversity of backgrounds and aspects of life.

Ranging from government officials to investors, merchants to people active in the financial sector, and regular enthusiasts looking to find out more about the Aten Coin project, these attendees represented a good mix of various sectors.  It is positive to note there are people with a real genuine interest in Aten Coin because this project deserves more praise than it has been getting so far.

Additionally, several of the attendees are curious to see how Aten Coin will keep evolving over the next few years.  They firmly believe this digital currency can become a global currency in due time.  Whether or not this will be the case remains to be seen.  People active in the world of Bitcoin and other digital currencies may disagree with the atttendees opinion, but there is no reason there can’t be multiple valuable digital currencies in the world.

Aten Coin is somewhat of an odd creature in the world of cryptocurrencies, as this project is focusing on being regulatory compliant unlike any other coin has done before.  Especially where Anti-Money Laundering and Know Your Customer regulations are concerned, Aten Coin is keeping a tight lid on who can purchase this currency and who can not.  Those who are interested in purchasing Aten Coin will have to go through a verification procedure.

One of the topics brought up during these KYC/AML topics was how all Bitcoins in circulation have been tainted due to being used in illegal activities at some point.  Even freshly mined coins can be sent to an exchange wallet where tainted funds are stored, making the new coins “tainted by association”.

For most people this does not seem to be an issue anyone should be worrying about right now.  However, government officials are having a hard time getting past this ideology, due to it being one of the main reasons why Bitcoin is being so intensely scrutinized regarding regulation.  Aten Coin is different in this regard, as it is possible to identify coin holders at any given time.

On this same topic, the Aten Coin Foundation (NAC) is planning to work directly with global governments to report any suspicious activity occurring within the Aten Coin ecosystem.  Digital currency was never designed to be used for illegal activities and Aten Coin is taking things one step further than most other alternatives in existence today.

 

 

Aten Coin Conference and New Blockchain: Exclusive Interview

Aten Coin is a cryptocurrency quickly becoming the go-to Altcoin for people interested in enjoying benefits that cryptocurrency can bring to the financial industry, while maintaining the highest levels of government compliance. Aten Coin will be introducing a new blockchain, known as the “privately regulated public blockchain,” as well as hosting a conference to talk about the future of the coin. I spoke to Marcus Andrade from Aten Coin regarding the new blockchain, the conference, and government compliance.

Also read: Bitcoin Price Rallying Towards $300


Can you briefly describe the goal/purpose of Atencoin?

In 2012, a group of programmers and entrepreneurs led by Marcus Andrade started working on the Aten Coin project and in early 2014 when development was nearly finished, Mr. Andrade formed the National Aten Coin Foundation (NAC) which has a cryptocurrency named Aten Black Gold Coin (also called Aten Coin).It is based on the Bitcoin protocol, but with additional features to achieve anti-money laundering, anti-terrorism and theft-resistance. The purpose was to create a coin that was government friendly.

Can you explain why Atencoin decided to go with a private blockchain?

Indeed, we are going with a “privately regulated public blockchain”, not “private blockchain:”.

The blockchain of Bitcoin is considered to be a “Public Blockchain”. Anyone in the world can read, modify and verify it. No one can own and control the blockchain. Anyone can freely create bitcoin addresses and freely use their addresses to receive and send bitcoins. Recently there has been a lot of discussion about how to modify and make use of the Bitcoin’s blockchain technology. We believe in the concept of decentralized banking and public blockchain, which provide 100% transparency of transactions and allow decentralization of transaction verification and block generation (i.e., mining). However, a 100% public blockchain technology, which has no central governance, has generated a lot of problems, especially the use of Bitcoin in criminal activities, terrorist financing and it is susceptible to theft.

Besides “Public Blockchain”, the concepts of “Private Blockchain” and “Consortium Blockchain” have appeared. In such concepts, the blockchains will be solely controlled by either a private entity or a group of private entities. However, such concepts are completely contrary to the concept of decentralized banking

We believe that a hybrid distributed ledger technology provides a better approach for regulating a cryptocurrency while maintaining the beauty of Bitcoin, i.e. decentralized banking. For example, The Bank of England has said that central banks are looking for ways to implement “hybrid systems” involving distributed ledger technology which is similar to the technology currently used to record bitcoin transactions. In 2013 we decided to develop a new cryptocurrency which would function in a similar way as Bitcoin, but would be regulated by a private central governance body and would comply with regulations concerning anti-money laundering and terrorist financing as well as other government regulations. On the basis of the “privately regulated public blockchain” concept, we have invented a novel personal identity-linked credential authentication protocol, and built into the source code of Aten Coin.

 

How will Atencoin’s new identity protocol courtesy of NAC help Atencoin?

There are two major ways. One is on the intrinsic value of Aten Coin, and one is on the acceptance and business side of Aten Coin.

Intrinsic value:

  • KYC/AML compliance
  • Anti-terrorist financing
  • Theft-resistance – ownership of atencoins is better protected
  • Clients gaining more Control over Aten Coin Banking – Using the new identity protocol, we are developing more functions that allow Aten Coin holders to set their own transaction criteria, such as restricting the maximum amount of atencoins being transferred within a certain period, restricting geographic locations where transactions can be created.

Acceptance and Business side of Aten Coin:

  • Acceptance by Governments and Banks: Currently significant amount of governments and banks refuse to accept Bitcoin as an exchange media because of the anonymous nature of Bitcoin. Governments and banks should be willing to accept Aten Coin of its unique KYC/AML compliant protocol.
  • Preventing Terrorist Financing: Using our new identity protocol, we are developing new functions to proactively prevent terrorist financing. NAC can restrict creation of Aten Coin transaction only in authorized countries. In such way, NAC can proactively avoid Aten Coin being used in regions prohibited by United States of America or United Nations Sanctions by monitoring the locations of senders. This should help minimizing the chance of Aten Coin being used in financing terrorist activities.
  • Using client transaction data in marketing and advertising business: Our identity protocol allows us to decipher relationships among various purchasing behaviors through in-depth analysis of the transaction records stored in the Aten Coin blockchain and the identities of the Aten Coin users in our Client Identity database. For example, by analyzing all transaction records associated with a particular coffee shop in the capacity of a receiver, we can identify those clients who regularly buy coffee from this shop. By analyzing transaction records of these clients in the capacity of a sender, we can unveil their expenditure patterns. We may then find out that most of them have a common interest in purchasing red wine of a particular brand. This allows us to establish a positive association between a specific coffee consumption pattern and a specific red wine consumption pattern. Such type of information is invaluable in the marketing business. Furthermore, in each Aten Coin transaction, sender’s and receiver’s IP addresses are readily available and recorded. Such location information can allow us to identify consumable items that are particularly popular in certain regions or nations. From the Aten Coin transaction data, we could even identify the trend of changes in the consumer behavior. Such concept of using client transaction data in marketing and advertising business has been well recognized by credit card service companies, such as VISA Inc. and Master Card Inc. However, Aten Coin can reach many more regions and nations where VISA and/or Master Card services are not available. Once Aten Coin becomes a popular medium for payment, information concerning the purchasing behavior patterns that could be extracted from the Aten Coin transactions will be enormous

What is the goal of the upcoming conference and what are the topics that will be discussed there?

The goal of the Aten Coin Conference is to promote Safety & Compliance of Digital Currencies. For more information, please visit AtenCoinConference.com


Thanks for your time, Marcus. It’ll be interesting to see what milestones Aten Coin achieves next.

 

AtenCoin is Government-Friendly Cryptocurrency from Day One

The launch of Bitcoin as the first dedicatedly decentralized form of barter opened space for reforms in the current financial system. After six years since its launch, the digital currency has received applause for simplifying global remittance, bringing transparency to minting business, as well as bringing blockchain, a decentralized record-keeping technology.

But despite its advancement as an alternate form of money, Bitcoin also faced lashes from law and the people for bringing too-much anonymity to money exchange businesses. Drug cartels openly misused Bitcoin as their getaway from “often-risky” cash transactions, which somewhat simplified their means to exchange illegal narcotics. Terrorists went a little further and misused Bitcoin for financing their malevolent plots.

Despite Bitcoin’s escalation as a game-changing technology, its association with nefarious online activities left a dent on its image, a reason why governments feel that it — and every cryptocurrency that is created upon utilizing its source code — must be heavily regulated. While some might say that this is yet another plan to invade financial privacy, the underlying concern of the entire situation can never be ignored.

This might be the only reason why an alternate cryptocurrency called AtenCoin wants to turn the screw and become a government-friendly altcoin from day one.

As founder Marcus Andrade explains clearly in their recent press release, AtenCoin has been created to be a completely transparent cryptocurrency that cannot be utilized for financing illegal activities online. The company that backs AtenCoin, named the National Aten Coin Foundation (NCA), has spent last two years working to get compliant with “Anti-Money Laundering (AML), Counter Financing 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 means that any merchant or user signing up to receive and use AtenCoin for online trading must provide his/her credentials for approval from NCA. This however doesn’t make the people involved in a transaction visible to each other. The real identities of AtenCoin users will be kept with NCA, only to be accessed and used by the designated law agencies.

“All the authentication process steps are working at the network level, and the passwords of Aten Credentials are only known by the Aten Coin users who created them and encrypted in the NAC’s system,” Andrade explained. “No one from NAC can know passwords of those Aten Credentials. The authentication protocol is built inside the source code of Aten Coin. In other words, no one can by-pass NAC’s authentication system.”

In addition to this, AtenCoin promises to be faster, cheaper and more secure than Bitcoin.

 

Aten Coin – Improving The Bitcoin Protocol For Compliance Purposes

Aten Coin – Anti-terrorism, Theft-resistant, and AML CompliantDigitalMoneyTimes_Aten Coin Compliance

During the Inside Bitcoins conference in Berlin earlier this year, I ran into a man called Marcus Andrade.  After striking up a small conversation about why we were both attending, he started telling me about Aten Coin, and how it embraces compliance and regulation.  The concept piqued my interest at that time, and I started doing some digging for more information.

As it turns out, the Aten Coin project started in 2012 and took slightly over two full years of development to complete; not just because of the code base itself, mind you, as Aten Coin is much more than just a digital currency.  Even though development of Aten Coin was successfully completed in 2014, the coin has only been made available for purchase as of September 2015.  Obtaining Aten Coin can be done through the AtenPay.com website.

Note from the Author: Aten Coin is often referred to as Aten Black Gold Coin, which has been making a name for itself ever since Marcus Andrade formed the National Aten Coin Foundation (NAC).

Aten Coin is based on Bitcoin, but it has additional features built in that can be wielded as powerful tools to fight money laundering, terrorism, and theft.  At the same time, Aten Coin embraces transparency, as this currency is not intended for usage on the dark markets by any means.

Unlike other cryptocurrencies, Aten Coin has managed to create relationships with traditional banks, as the NAC is a Platinum Service member of the American Bank Association.  Furthermore, the coin itself is compliant with multiple law enforcement agencies, including AML, CFT, BSA, USA PATRIOT Act and AFF.

What Sets Aten Coin Apart From The RestDigitalMoneyTimes_Aten Black Gold Coin

Blockchain technology is an integral part of Aten Coin, but there’s a slight twist on the protocol.  An in-house developed method – protected by US copyright and patent approval pending in the EU – will allow anyone to track and trace identities whenever necessary.  Pulling off such a feat is not easy, as the Aten Coin team has created a novel concept, called “privately-regulated public blockchain.”

Doing so truly sets Aten Coin apart from any other digital currency, as its blockchain can be used for transaction verification and mining purposes.  Even though Aten Coin is regulated for KYC/AML and anti-terrorist compliance, those are not the major selling points.  Instead, maintaining the decentralized financial aspect of Bitcoin while overcoming some of the shortcomings of the Bitcoin protocol are what is of great interest to investors and government officials.

All Aten Coin address are multisignature addresses, which contain one public and private key from NAC, and at least one other pair of keys from the end user.  That being said, not just everyone can create an Aten Coin address, as users will have to go through an authorization process from NAC.  Obtaining this authorization requires users to register as an Aten Coin User in the NAC systems, and providing the valid documents to disclose and verify their identity.

“As senders and receivers of all transactions can be revealed, any thieves or hackers who steal the Aten Coins can be easily traced and tracked by retrieving personal identities of the receivers from the client information database,” said Andrade. “Moreover, the credential authentication mechanism behind Aten Coin allows a user to change the credential to stop coins being transferred out from a stolen wallet.  As a result, NAC’s invention can prevent Aten Coins from being stolen”  – NAC Founder Marcus Andrade explained.

Source: AllAfrica

 

Aten Coin 2015 Conference Features Panel With Groupon CEO

Aten Coin 2015 ConferenceDigitalMoneyTimes_Aten Black Gold Coin

October 27 is an important day to mark in your event calendars, as this is the day during which the first Aten Coin 2015 Conference will take place in Warsaw. According to the information we have received, there will be over 100 influential guests in attendance, representing the Polish financial, business, and banking sectors.

During this one day event, most of the focus will be on Aten Coin, the AtenPay.com platform, and how the teams expect to shape the future.  A word of welcome from Marcus Andrade, founder of the National Aten Coin Foundation, will kick things off at 9 in the morning.

The first panel of the day will see some of the most influential minds in the Polish financial world talking about the safety of Aten Coin as a digital currency.  As we learnt yesterday, Aten Coin prides itself on being fully compliant with regulations, preventing money laundering, terrorism and theft.

Considering how not just anybody can get involved in Aten Coin – as there is a strict application and verification process involved – the digital currency seems to be on the right track to avoid unwanted attention.  It will be interesting to see how the Polish Financial Supervision Authority feels about this situation, though.

Digital Currency Compliance is the topic of panel number two, which will talk at length about the regulatory framework for digital currency right now.  Poland seems to be fairly open-minded to the concept of digital currency, despite this form of transferring monetary value not being controlled by governments or central banks.

After the first coffee break has come to pass, Marcus Andrade will do a feature presentation on Aten Coin and AtenPay, as both projects are bringing something new to the table. Digital currencies are often referred to as speculative investment vehicles and are treated as such, due to their accessibility.  Aten Coin can only be purchased through the AtenPay platform, making it somewhat unique and creating a tighter ecosystem.

Panel number three – taking place after the hour-long lunch & networking break – will touch upon the subject of Chances, threats, and future of digital currency.  What is of particular interest to this panel is how Aniela Hejnowska, Groupon CEO, will be partaking in this conversation.  So far, there has been no indication regarding Groupon being involved with digital currency in any way, but that situation might be about to change.

As you would come to expect from such a prominent conference, there will be an after-conference business mixer, taking place at the Pure Sky Club in Warsaw.  Such a jam-packed day of discussions and topics deserves to be followed up with a few hours of relaxation and networking at a leisurely pace.

 

Atencoin: A Coin Designed for Government Compliance

In the cryptocurrency world we have seen coins come and go. It is rare to find a new coin that is doing major things. Atencoin is a coin that is walking the walk. It is the first coin that meets strict KYC/AML standards. With Atencoin it is known at all times who holds each coin. This is because to acquire Atencoin? Users must first provide full KYC documents. This will reduce the number of fraudulent activities  Bitcoin is synonymous with. Like Silk road and money laundering. 

Furthermore Atencoin is a theft proof coin. While thousands of hacks are taking place in cryptocurrency realm, Atencoin has built a system that is safe for the user.

Some of the most exciting news about Atencoin is their upcoming conference in Poland. Especially considering that it is the first conference that is dedicated entirely for an altcoin. According to the founder Marcus Andrade the conference will be sold out in Warsaw Poland October 28th. This is a pretty remarkable for a coin that is not well known in the bitcoin space.

Speaking with Marcus Andrade I found out that Aten Black Coin has built a coin that would be completely compliant with governments. Blockchain technology is well understood now. Banks and governments from around the world are exploring it. Aten realized the potential early on and in 2012 started building a currency designed for world trade. Unlike bitcoin, Atencoin is designed to work with regulators.

In a recent Press Release the NAC announced their proprietary core technology for Aten “Black Gold” Coin. This invention involves a “privately-regulated public blockchain”, which is a novel concept and can be considered as the 4 th type of the blockchain technology. Anyone in the world can read the Aten Coin blockchain and participate in transaction verification and Aten Coin mining. Aten Coin is only regulated when it comes to KYC/AML compliance and anti-terrorist compliance.

Atencoin To Hold International Conference in Poland

Conferences in the Bitcoin world are all too common now. After attending many in Europe, you start to see the same common faces and the same topics of discussion. Recently I have learned about AtenCoin a cryptocurrency that is everything that bitcoin is not. They have fully KYC/AML compliance built in. They are working directly with world governments. Now they are hosting their first conference dedicated to solely Aten Coin – http://www.atencoinconference.com/

Atencoin is not known well in bitcoin circles. At first glance, they appear to be no different than the thousands of other altcoins we have seen come and go. Upon further glance we see they have taken blockchain technology and created a coin to really shake things up. They offer all the benefits of quick transaction and settlement times as other cryptocurrencies, but the main difference is every coin can be identified as to holds it at any given time. Atencoin has full KYC/AML compliance which governments love, and the traditional bitcoin users dislike.

When asking founder Marcus Andrade about his KYC/AML policies he replies. “I love bitcoin and blockchain technology. Global governments want to know who is making these transactions. We decided to work directly with government officials to create a coin that satisfies their KYC/AML concerns.”

There have been thousands of altcoins created over the last 5 years. This is the first coin beside Bitcoin to have an official conference that we have heard about. How have you amassed so much success without being well known in the bitcoin world? “We have been working hard to create a coin we feel will be globally accepted by institutions. Blockchain technology is a world-changing technology with quick transaction and settlement times. In the global world ruled by technology, money needs to be updated. Everyone now in finance knows and understands the power of blockchain technology. We have simply created a coin that adheres to government rules and regulations.”

Aten Coin – Improving The Bitcoin Protocol For 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.

Make sure to read: Gaming Marketplace Giant G2A.COM Accepts Bitcoin

Aten Coin – Anti-terrorism, Theft-resistant, and AML CompliantDigitalMoneyTimes_Aten Coin Compliance

During the Inside Bitcoins conference in Berlin earlier this year, I ran into a man called Marcus Andrade.  After striking up a small conversation about why we were both attending, he started telling me about Aten Coin, and how it embraces compliance and regulation.  The concept piqued my interest at that time, and I started doing some digging for more information.

As it turns out, the Aten Coin project started in 2012 and took slightly over two full years of development to complete; not just because of the code base itself, mind you, as Aten Coin is much more than just a digital currency.  Even though development of Aten Coin was successfully completed in 2014, the coin has only been made available for purchase as of September 2015.  Obtaining Aten Coin can be done through the AtenPay.com website.

Note from the Author: Aten Coin is often referred to as Aten Black Gold Coin, which has been making a name for itself ever since Marcus Andrade formed the National Aten Coin Foundation (NAC).

Aten Coin is based on Bitcoin, but it has additional features built in that can be wielded as powerful tools to fight money laundering, terrorism, and theft.  At the same time, Aten Coin embraces transparency, as this currency is not intended for usage on the dark markets by any means.

Unlike other cryptocurrencies, Aten Coin has managed to create relationships with traditional banks, as the NAC is a Platinum Service member of the American Bank Association.  Furthermore, the coin itself is compliant with multiple law enforcement agencies, including AML, CFT, BSA, USA PATRIOT Act and AFF.

What Sets Aten Coin Apart From The RestDigitalMoneyTimes_Aten Black Gold Coin

Blockchain technology is an integral part of Aten Coin, but there’s a slight twist on the protocol.  An in-house developed method – protected by US copyright and patent approval pending in the EU – will allow anyone to track and trace identities whenever necessary.  Pulling off such a feat is not easy, as the Aten Coin team has created a novel concept, called “privately-regulated public blockchain.”

Doing so truly sets Aten Coin apart from any other digital currency, as its blockchain can be used for transaction verification and mining purposes.  Even though Aten Coin is regulated for KYC/AML and anti-terrorist compliance, those are not the major selling points.  Instead, maintaining the decentralized financial aspect of Bitcoin while overcoming some of the shortcomings of the Bitcoin protocol are what is of great interest to investors and government officials.

All Aten Coin address are multisignature addresses, which contain one public and private key from NAC, and at least one other pair of keys from the end user.  That being said, not just everyone can create an Aten Coin address, as users will have to go through an authorization process from NAC.  Obtaining this authorization requires users to register as an Aten Coin User in the NAC systems, and providing the valid documents to disclose and verify their identity.

“As senders and receivers of all transactions can be revealed, any thieves or hackers who steal the Aten Coins can be easily traced and tracked by retrieving personal identities of the receivers from the client information database,” said Andrade. “Moreover, the credential authentication mechanism behind Aten Coin allows a user to change the credential to stop coins being transferred out from a stolen wallet.  As a result, NAC’s invention can prevent Aten Coins from being stolen”  – NAC Founder Marcus Andrade explained.

Source: AllAfrica

Images courtesy of Shutterstock, Aten Coin

NAC Foundation Announces Proprietary Core Technology of Aten “Black Gold” Coin

LAS VEGAS, Oct. 15, 2015 /PRNewswire/ — The appearance of Bitcoin and its associated block-chain technology has gained tremendous interest in the development of decentralized, but secure, money banking and transaction systems. Bitcoin is gaining recognition all over the world as a convenient financial tool for daily payment and also for transferring money across the national borders. However, there is serious concern about Bitcoin’s use for criminal exploits and the financing of terrorist activities. For example, recently Australian’s biggest banks have closed bank accounts of at least 17 Australian Bitcoin companies. One of the major reasons is the untraceable nature of Bitcoin. Aten Coin recently introduced a proprietary, privately regulated public blockchain. This technology is the core of the Aten “Black Gold” Coin, and was created to solve problem of money laundering, criminal and terrorist financing and online theft.

Aten Coin Logo.

Aten Coin – Born for Anti-Money Laundering, Anti-Terrorism and Thief-Resistance

In 2012, a group of programmers and entrepreneurs led by Marcus Andrade started working on the Aten Coin project and in early 2014 when development was nearly finished, Mr. Andrade formed the National Aten Coin Foundation (NAC) which is a cryptocurrency named Aten Black Gold Coin (also called as Aten Coin), which is based on the Bitcoin protocol, but with additional features to achieve anti-money laundering, anti-terrorism and thief-resistance. Aten is the ancient Egyptian God depicted as the solar disk emitting rays terminating in human hands. NAC named their new cryptocurrency after Aten because Aten Coin is designed to be a transparent cryptocurrency that cannot be used by the dark markets. After two years of efforts, NAC is now a Platinum Service Member of the American Bank Association (ABA), and Aten Coin is compliant with the following agencies: Anti-Money Laundering (AML), Counter Financing 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. Aten Coin has been officially launched in September 2015, and now can be purchased at AtenPay.com. To the best of our knowledge, Aten Coin is also the first cryptocurrency that can meet the KYC/AML compliance.

Privately Regulated Public Blockchain Technology of Aten Coin: The 4th Type of Blockchain

The blockchain of Bitcoin is considered to be a “public blockchain”. Anyone in the world can read, modify and verify it. No one can own and control the blockchain. Anyone can freely create bitcoin addresses and freely use their addresses to receive and send bitcoins. Recently there have been a lot of discussions about how to modify and make use of the Bitcoin’s blockchain technology. For example, The Bank of England has said that central banks are looking at ways to implement “hybrid systems” involving distributed ledger technology of the type currently used to record bitcoin transactions. Besides “public blockchain”, the concepts of “private blockchain” and “consortium blockchain” have appeared. In such concepts, the blockchains will be solely controlled by either a private entity or a group of private entities. However, such concepts totally opposite the concept of decentralized banking. To tackle with the issues of criminal uses and terrorist financing, NAC has invented a method (EU patent pending and U.S. copyright protected) that allows people to trace and track identities senders and receivers of a cryptocurrency when necessary. This invention involves a “privately-regulated public blockchain”, which is a novel concept and can be considered as the 4th type of the blockchain technology. Anyone in the world can read the Aten Coin blockchain and participate in transaction verification and Aten Coin mining. Aten Coin is only regulated when it comes to KYC/AML compliance and anti-terrorist compliance. The major advantage of NAC’s novel blockchain technology is that the key decentralized banking concept of Bitcoin is being maintained, while Aten Coin can overcome the major shortcomings of the Bitcoin protocol.

Aten Coin’s Identity-Linked, Credential Authentication Protocol

One the basis of a privately-regulated public blockchain, NAC has built a personal identity-linked credential authentication protocol into the source code of Aten Coin. The protocol involves an integration of three major processes, including personal identity verification, credential authentication and a two-party signature scheme. A regulation system is introduced at the blockchain level in the way that (i) all Aten Coin addresses must be multisignature addresses comprising of a pair of public key and private key from NAC and at least one pair of public key and private key from an Aten Coin user, and (ii) all Aten Coin addresses can only be created by people whom have got an authorization from NAC. Furthermore, (iii) without NAC’s authorization, no one can use any Aten Coin addresses to send any atencoins that are recorded (stored) at the Aten Coin addresses. In order to obtain authorization from NAC, all Aten Coin Users must register as an Aten Coin User in the NAC’s systems, and in the process of registration all potential Aten Coin Users must provide valid document to disclose their legal identities.

NAC’s Founder, Marcus Andrade, discussed how Aten Coin is being regulated.

“Once an Aten Coin User has successfully registered at www.AtenWallet.com, he/she will be given an Aten ID, and will be allowed to create their private Aten Credentials, which will be subsequently approved by NAC’s system to be used as valid credentials to obtain NAC’s authorization for generating Aten Coin addresses as well as for making Aten Coin transactions,” said Andrade. “All the authentication process steps are working at the network level, and the passwords of Aten Credentials are only known by the Aten Coin users who created them and encrypted in the NAC’s system. No one from NAC can know passwords of those Aten Credentials. The authentication protocol is built inside the source code of Aten Coin. In other words, no one can by-pass NAC’s authentication system,” he said.

In the typical transaction process, NAC’s authentication system will automatically provide authorization to any request for address generation or transaction creation as well as signing a transaction upon the receipt of a valid Aten Credential. Therefore, most of the time Aten Coin will function in the way similar to Bitcoin, except that by design Aten Coin transactions are faster, cheaper and more secure. All transaction data is available in the Aten Coin’s blockchain, which is open to the public. Public will not be able to know the identities of Aten Coin senders and receivers as in the case of Bitcoin. However, real identities of the senders and receivers are kept in NAC’s system with protection. Using Aten Credentials and Aten IDs, NAC can trace the legal identities of any senders and receivers when necessary. This allows NAC to reveal identities of senders and receivers associated with any transactions which are suspected to associate with any money laundering, hacking or illegal activities, while maintaining privacy of Aten Coin users.

Aten Coin’s core technology allows NAC to monitor every single transaction and identify those suspected for involvement in illegal activities, such as money laundering and terrorist financing through analyzing individual Aten Coin users’ transaction records. It is NAC’s obligation to report any suspicious transactions and identities of their associated senders and receivers to the relevant government agencies for further action. It provides a practical solution for the current KYC/AML incompliance issues of Bitcoin and various alternative cryptocurrencies. As all transaction creations are being regulated by NAC and cannot be created without NAC’s authorization, NAC can also restrict Aten Coin transaction to be created in authorized countries. In such way, NAC can proactively avoid Aten Coin being used into regions prohibited by United States of America or United Nations Sanctions by monitoring the locations of senders. This should help minimizing the chance of using Aten Coin in financing terrorist activities.

Andrade talked further about Aten Coin’s unique theft-resistance solution.

“As senders and receivers of all transactions can be revealed, any thieves or hackers who steal the Aten Coins can be easily traced and tracked by retrieving personal identities of the receivers from the client information database,” said Andrade. “Moreover, the credential authentication mechanism behind Aten Coin allows a user to change the credential to stop coins being transferred out from a stolen wallet. As a result, NAC’s invention can prevent atencoins from being stolen,” he said.

About National Aten Coin

Headquartered in Las Vegas, Nevada, National Aten Coin (NAC) is the creator of the Aten “Black Gold” Coin, a cryptocurrency (a form of electronic money) and its global payment transaction network. The official website of Aten Coin is AtenCoin.com. While maintaining privacy of customers, the NAC utilizes proprietary techniques to verify ownership of coin holders, secure and monitor transactions, trace and track identities of senders and receivers, keep recordkeeping efforts transparent, protect coins from stealing.

For more information please visit: AtenCoin.com, AtenPay.com and AtenWallet.com.

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nac-foundation-announces-proprietary-core-technology-of-aten-black-gold-coin-300160276.html

SOURCE NAC Foundation

New Digital Currency – Named Aten Coin – Takes on Bitcoin

New Digital Currency – Named Aten Coin – Takes on Bitcoin

By Esmee Tijdeman

The worldwide digital currency Bitcoin quickly grew to fame in a matter of years but not without having some shortfalls when it comes to worldwide Anti-Money Laundering compliance issues.

These compliance issues are quickly taking its effect on bitcoin. For instance, major banks in Australia have recently shut down all bitcoin company bank accounts for Anti-Money Laundering compliance reasons.

The famous bitcoin now has an emerging digital currency competitor on the global stage.

It’s called the Aten Coin, short for Black Gold Coin, and it is the newest development in the digital currency market. For the first time, consumers and merchants can open accounts to purchase and sell the new digital currency.

The Aten Coin is quickly revolutionizing the way consumers pay for products and services around the world.

The Aten Coin is theft-resistant and the first digital currency that allows the tracing of real identities in the event an Aten Coin is stolen. This cyber currency is also 100 percent compliant.

Consumers can now purchase and soon sell the Aten Coin by opening an account with AtenPay.com. Merchants can also sign up so their customers can use the Aten Coins to shop. The payment system is easy to setup and integrate.

“We have created free accounts for all individuals and merchants,” said Marcus Andrade, founder NAC Foundation, LLC which is the creator of the Aten Coin. “The accounts are easy and quick to set up online, but their usability in no way compromises the fact that they are theft-resistant and 100% compliant with the most respected financial regulatory agencies in the world.”

The National Aten Coin Foundation (NAC) is a service member of the American Bank Association (ABA) and compliant with Anti-Money Laundering (AML), Counter Financing 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.

Andrade says the value of the Aten Black Gold Coin is non-volatile, because NAC Foundation’s partner, Black Gold Coin, Inc. is creating a constant demand of Aten Coins through joint venture with oil and gas production companies via oil and gas well investments. He says more than 50 percent of the investment profits will be paid in Aten Coin to create a continuous demand of Aten Coin and maintain a stable value of Aten Coin.

Aten Coin purchases are not yet available to U.S. residents; however, depending on the state of residency, purchases of Aten Coin may be bought directly from NAC Foundation, LLC. AtenPay will allow U.S. residents to purchase the Aten Black Gold Coins online in the very near future.

AtenPay is a joint project between Black Gold Coin, Inc., and the SWC Group.

The price of bitcoin today is over $300 dollars while the price of the Aten Coin is only $2 dollars. We will continue to see if compliant vs non-compliant will play a role in Aten Coin’s success.

AtenPay, SA and ANX Pro Jointly Launch The Aten Coin Exchange

The Digital Currency Anti-Criminal Solution

LAS VEGAS, Sept. 21, 2015 /PRNewswire/ — Individual and merchant accounts are now available for NAC Foundation’s Aten “Black Gold” Coin. The 100% compliant cyber currency is quickly revolutionizing the digital exchange market. Individuals wishing to purchase and sell coins simply need to visit AtenPay.com select “Individual User” and then register for a free account. Individual accounts are available from AtenPay through collaboration with the most distinguished online trading platform in the world, ANXPro.com. Merchants wishing to start accepting Aten Coins begin the free account sign up process at AtenPay.com by clicking on the “Merchant Account” tab.

National Aten Coin Foundation (NAC) is a service member of the American Bank Association (ABA) and compliant with the following agencies: Anti-Money Laundering (AML), Counter Financing 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.

NAC Foundation’s clients will have exclusive access to ANXPRO’s simple and user friendly UI, consolidated shared order book for blended multi-currency settlement, real time FX pricing, deposit options, and risk management and trading tools. The Aten “Black Gold” Coin will be available in all fiat currencies, including USD, EUR, HKD, AUD, CAD, JPY, SGD, GBP, NZD and CHF.

Marcus Andrade, NAC Foundation’s Founder, discussed exactly how individual and merchant accounts would benefit users.

“We have created free accounts for all individuals and merchants,” said Andrade. “The accounts are easy and quick to set up online, but their usability in no way compromises the fact that they are theft-resistant and 100% compliant with the most respected financial regulatory agencies in the world.”

Aten Coin purchases are not yet available to U.S. residents; however, depending on the state of residency, purchases of Aten Coin may be bought directly from NAC Foundation, LLC. AtenPay will allow U.S. residents to purchase the Aten “Black Gold” Coin online in the very near future.

More about AtenPay.comAtenPay.com is the easily comprehensible Aten “Black Gold” Coin-processing gateway. It is a one-stop-shop for people and businesses to acquire or receive Aten Coins. Businesses can easily accept Aten Coin payments by using AtenPay’s services. NAC Foundation provides straightforward set up instructions and effortless integration tools.

Features include:

  • AML & KYC: Aten Coin is the first digital currency designed to fulfill AML and Know Your Customer (KYC) requirements.
  • Theft-Resistant: Other digital currencies are susceptible to stealing by hackers, who are unidentifiable. However, Aten Coin is the first digital currency that allows the tracing of real identities in the event theft occurs. This makes Aten Coin theft-resistant.
  • Non-volatile Value & Liquidity: Volatile value is one of the key issues of many other digital currencies. In view of this, NAC Foundation’s partner company, BGC International, Inc., is creating a constant demand of Aten Coins through joint venture with oil and gas production companies via oil and gas well investments. Over 50% of the investment profits will be paid in Aten Coin to create a continuous demand of Aten Coin and maintain a stable value of Aten Coin.
  • Fast: Transactionof Aten Coin is 9.4 times faster than other digital currencies.
  • Secure: Aten Coin is a highly secure digital currency that uses multiple rounds of 11 different cryptographic hashes, thus making it one of the safest and sophisticated modern digital currencies. In contrast, other digital currencies only use a single round of double SHA-256 hashes.
  • Usability: Businesses can easily accept Aten Coin payment by using our AtenPay services. In the near future, people will be able to use the Aten Coin to buy things in real life, e.g., a cup of coffee, online games, meat, petroleum, etc.

For more information please visit:

AtenCoin.com

 and

AtenPay.com

.

Media inquires:Marcus Andrade, Founder
Phone: 1-702-515-4038
Email: press@atencoin.com

Jess Chan, Marketing Manager
ANX
Phone: 1-852-2892-2689
Email: marketing@anxintl.com

Agnieszka Cenzartowicz, Senior Partner
SWC Group
Phone: 0048 607041276
Email: acenzartowicz@swclaw.pl

Agnieszka Bilinska, Supervisory Board Member
AtenPay SA
Phone: 0048 601441340
Email: abilinska@atenpay.com

Logo – http://photos.prnewswire.com/prnh/20150921/LA06934LOGO

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/atenpay-sa-and-anx-pro-jointly-launch-the-aten-coin-exchange-300146076.html

SOURCE NAC Foundation

Copyright (C) 2015 PR Newswire. All rights reserved

Aten “Black Gold” Coin Soon To Launch Patented Wallet

National Aten Coin (NAC) is a company with headquarters in Las Vegas, Nevada. Responsible for creating Aten “Black Gold” Coin, the cryptocurrency is now offering new patented digital wallets, available in August of 2015. Including additional features into the new wallets by entities in the EU is the reason date has been rescheduled.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with NAC/ANX and is not responsible for its products and/or services.

“Collaboration agreements with governmental entities in the European Union has resulted in NAC adding in additional features to the Aten “Black Gold” Coin to fulfill their requirements. All newly required features as well as beta testing will be completed prior to the new launch date.”

To benefit from the features in the wallet, you’ll, of course, need some Black Gold. You can purchase Black Gold through a collaboration between AtenPay, SA, and ANXPro, a globally known trading platform that is the 6th largest Bitcoin exchange by volume. While a trading platform is its specialty, ANX since launching in June of 2013 has been a pioneer in cryptocurrencies, introducing the world’s first physical Bitcoin retail store as well as debit card to name a couple achievements. Users can buy Black Gold in all fiat currencies, widening availability as much as possible.

“The Aten “Black Gold” Coin can be purchased through collaboration between AtenPay, SA and ANXPro, one of the globe’s most revered online trading platforms. The Aten “Black Gold” Coin will be available in all fiat currencies including, USD, EUR, HKD, AUD, CAD, JPY, SGD, GBP, NZD, and CHF. NAC clients will have exclusive access to ANXPRO’s simple and user friendly UI, consolidated shared order book for blended multi-currency settlement, real time FX pricing, deposit options, and risk management and trading tools.”

With features like 100% AML & KYC compliance( as well as CFT,AFF,OFAC,BSA, FACT Act, and USA PATRIOT Act), theft resistance, as well as volatility and liquidity protection, it’s no wonder the wallets have been copyright protected as to discourage the competition from copying features.

“‘Nothing in the current electronic currency market comes close to our patented digital wallets,’ said Andrade. ‘We have created such a unique product here; the levels of encryption result in a highly vetted, safe, theft-resistant, product that is very easy to use from anywhere in the world,’ he said.”

 The Original Press Release source is Bitcoin PR Buzz

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Originally posted on: Aten “Black Gold” Coin Soon To Launch Patented Wallet