Publicly traded Canadian Greenbank Capital Inc (CSE:GBC and OTCMKTS:GRNBF) has announced that the offering of a cryptocurrency that focuses on user identification in contrast to Bitcoin’s and other altcoin’s user anonymity policies. Citing recent concerns by some figures in the public sector and financial sector about Bitcoin and other cryptocurrencies being good opportunities for illegal activity, Greenbank Capital is focusing on making sure that can’t happen with their product.
“GreenCoinX is the world’s first and only crypto currency that requires users to be identified before usage. All GreenCoinX users will now meet the same identification standards as the banking community.”
The debate for or against Bitcoin and other cryptocurrencies hinges on many factors, some simple and some not-so-simple. Countries like Lithuania has stated their concerns about terrorists being able to fund their activities with Bitcoin. However, Europol has also gone on the record as stating that there isn’t any current evidence that terrorists are or will be using Bitcoin.
CEO Danny Wettreich believes that the technology his company is offering will be able to help dissuade the bad guys from using cryptocurrencies to fund nefarious activities:
‘In sharp contrast to bitcoin and all other crypto currencies, the new KYC standard of GreenCoinX alleviates the concerns of both governments and users that crooks and terrorists can use crypto currency to hide their activities. All GreenCoinX users have to be fully identified before usage, so bad actors will not use GreenCoinX.’
In what is referred to as “KYC” or “Know-Your-Customer”, it appears that this practice of acquiring personal information about users of GreenCoinX will help Greenbank Capital mitigate their clients and investors risk as much as possible.
For those looking to evaluate Greenbank Capital’s latest cryptocurrency offering, wallets can be created at www.xgcwallet.org, which will collect and verify users personal data including passport data through KYCglobal.net.
Featured image from Shutterstock.
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