DasCoin only allows verified members to make transactions in its ledger system. So everyone gets to be identified by the company although the privacy of individuals making the transactions is maintained.
The latter is possible because the DasCoin blockchain is made such that it obfuscates the identity of participants as transactions are recorded on it. This means while transaction details are transparent and easy to follow-through, the participant’s identity is confidential.
So how does DasCoin go about doing this?
- Through the Know Your Customer Procedure
KYC is a banking-level procedure of authenticating people looking to join their network, DasNet. Everyone must provide a way to be identified or verified as a genuine DasCoin participant. That means the network comprises of only authenticated members who are likely to add more integrity and reduce security concerns within the system.
- Full Compliance with Anti-Trafficking Policy
Recently, a few countries and regions across the globe have introduced sanctions against cryptocurrencies that ignore set rules to strangle supportfor criminal activities happening across various cryptocurrency networks.
Two such policies are the Anti-Money Laundering (AML) and Combat Funding for Terrorism (CFT).
Seeing how Bitcoin’s anonymity-approach has been abused by drugs and human traffickers, DasCoin is looking to avoid turning into yet another support structure for illegal transactions by becoming fully-compliant.
- System of Governance
For emphasize the above policies, DasCoin has instituted a central authority to supervise operations across their ecosystem. They have a board that pretty much runs the cryptocurrency brand.
The top management is clearly identified on the website as well, putting a face to the DasEcosystem. The management team is charged with making decisions such as when to mint new DasCoins. That is meant to help avoid volatility as well as increase the value of DasCoins held by participants over time.
This also means the central entity can change rules to solve emerging issues,unlike Bitcoin where a blunder is left unresolved.
One of the major advantages of DasCoins centralized management structure is the leading team ensures system upgrades happen on a regular basis. The result is a less chaotic cryptocurrency platform where integrity reigns supreme.
- DasCoin’s Referral Program
The DasCoin affiliate program is heavily reliant on identifying who referred who to the DasCoin ecosystem. Otherwise, it would be tough to trace referrals back to the person who “added value” to the system.
The referral program is central to how a DasCoin participant earns money. DasCoin even have packages for it. The higher the price of the package you refer people to, the higher your commission when they buy NetLeaders Licenses.
Besides, it is tough to anonymously refer people to a platform they have to spend money to get in. Who trusts a stranger like that?
These are the major reasons and benefits DasCoin fronts for making their private network permitted.