DasCoin, the Currency of Trust and the store of value within Das ecosystem, aims to differentiate itself from other cryptocurrencies in the market such as Bitcoin. Its plan is likely to succeed because The Currency of Trust eliminates the previous disadvantages of many cryptocurrencies and further expands existing advantages. But what exactly are DasCoin’s advantages?
There is often scepticism about the safety and security of cryptocurrencies, and of course everyone wants to be assured that their money is in safe hands. DasCoin runs and constantly maintains its network to the highest standards ensuring it remains secure and protects itself against threats. Its permissioned blockchain ensures every node is licensed and verified, and its wallet partner, WebWallet, requires every member of the community to be know your client (KYC) authenticated and use a Validator hardware device to access and protect their funds.
DasCoin will truely become a universal payment method offering real crypto utility, through its coming launch of DasPay. DasPay will be the world’s first cryptocurrency wallet that will enable coin holders to spend DasCoin at over 60 million merchants worldwide. Built with industry-leading technology partner Carta Worldwide, DasPay allows any business that takes Visa and Mastercard to accept DasCoin without changes to their point-of-sale technology. Try asking someone to buy a coffee with Bitcoin and you’ll soon see why DasCoin and its payment method would have considerable advantages over Bitcoin.
Price stability is one of the key characteristic features of DasCoin. The cryptocurrency should remain independent of fluctuating exchange rates, inflation risks and the influence of banks or governments. The base for this stability is provided by the manner in which DasCoin is emitted. While the prices of the license packages and the cycles remain fixed variables, the so-called frequency increases steadily. As long as the network grows, the price of DasCoin should rise, before stabilising as soon as the network has reached its full capacity. Ultimately, a maximum number of 8.5 billion DasCoins will be brought into circulation.
It has been reported that the energy consumption from mining Bitcoin consumes more electricity a year than Ireland. DasCoin uses a technology that mints coins instead of mining them. This eco-friendly network design ensures minimum energy consumption without compromising on performance.
A reliable lifeline in the face of crypto bans
Thailand forbids its banks to conduct activities with cryptocurrencies, Chinese authorities want to regulate the trade with Bitcoin and other digital currencies more strictly despite or perhaps because of their popularity across Asia. Against this background, hybrid solutions such as DasCoin could be a secure alternative for private investors and may be seen more favorably by authorities.
Asia: Debates about Bitcoin and other digital money
For years, cryptocurrencies have been controversial in Thailand. In 2013, the country banned trading in Bitcoins, but that did not prevent their rise. Only one year later, the Thai government saw reason and removed the ban. At the same time, the first legal and completely regulated exchanges were approved for Bitcoins. But another shock awaited crypto advocates in 2018 – the headline “Thailand bans trading in cryptocurrencies.” This over-dramatized the situation: the ban affected the country’s banks and their activities rather than individuals wishing to purchase the currencies. Thai banks cannot put funds into cryptocurrencies or trade in them, nor can they establish any platform for the crypto trade. Advertising for cryptocurrencies is forbidden, and customers are not permitted to purchase cryptocurrencies with a credit card.
DasCoin: Secure investment and payment method
It is not yet clear how the situation in Thailand and other Asian countries will develop. However, private individuals fear that their savings could be lost overnight as a result of state intervention. Protection against state despotism could be provided by the hybrid cryptocurrency DasCoin, which is completely independent of the influence of governments or banks. That also means that private individuals are able to control and secure their own means of payment.
DasCoin will be made available for public trading in 2018 – more precise information will be announced at the next DasCoin event in London April 27, 2018. DasCoin aims to be accepted as a true means of payment by more than 60 million merchants worldwide, a very attractive proposition considering the limited utility of existing cryptocurrencies.