The problem with many cryptocurrencies happens to be their most appealing propositions, ironically. It might be tough to make them adopted fully. Can DasCoin help?
Both Bitcoin and other altcoins promise transaction anonymity, non-regulation and non-government interference. But those benefits could be the same hindrances that continue to keep the digital coin revolution from turning into a fintech evolution and receives mass adoption.
So how does DasCoin play out differently from its competition?
- Legality issues.
Despite the “hard” work that goes into mining cryptocurrencies, most financial institutions in the world are yet to recognize a majority of altcoins, and even Bitcoin, as real stores of value. Many countries have also yet to qualify digital currencies as either commodities or currencies.
Towards that end, DasCoin seeks to transform that mentality by allowing their digital coin system, DasEcosystem, to help DasCoin users measure and store value in DasCoin—pretty much like fiat currencies do.
By positioning itself as a store of value, complete with an Exchange, you can use DasCoin to trade with others. You can also buy products and pay for services with DasPay with over 60 million merchants supported worldwide.
- High Volatility
From crazy-high gains to shocking surges, Bitcoin’s 2017 story is a classic for high volatility in the sector.
A majority of cryptocurrencies are largely demand-driven. So unlike gold, silver, and bank notes, the fact that most cryptocurrencies are solely driven by buyer demand makes their perceived value highly volatile.
Without a solid demand and supply mechanism to ensure volatility is curbed, most of the currencies do not inspire investment sense, and especially so for less-spontaneous investors—who just happen to be the majority of people who would hate to lose their money in what might seem like a gamble.
DasCoin one-ups the rest by setting this structure within its DasEcosystem. Users get to know which people are responsible for DasNet services. The managing team gets to regulate some of the ugly aspects of unregulated, unruly cryptocurrency markets to keep DasCoin volatility low.
- Authentication Issues
While many people consider the anonymity of cryptocurrency transactions a great thing, it is also a major stumbling block for many coins.
Often, hackers, money launderers and terrorist exploit the model to carry out illegal activities such as extortion. These nuances have managed to peddle national security risks around the globe.
With DasCoin, authentication is playing out strong as a feature—a positive thing. The company is now fully compliant with established digital currency policies, such as Combating Terrorism Funding (CFT) and Anti-Money Laundering (ATL).
- Security Issues
Importantly, DasCoin has a network full of verified users. They use a combination of Know Your Customer (KYC) protocol and a smart chip on a hardware wallet to authenticate new sign-ups. This seeks to bring order, goodwill, and a safety to the DasCoin experience.