AMLT

Review of AMLT ICO

Cryptocurrency world is decentralized and transparent. How true is this statement? 100% true. Is it open to everyone? Yes, it is. But can a non-technical person without any prior knowledge of Blockchain use its transparency? No. Bitcoin and Blockchain revolutionized the decentralization and tackled many major issues that decentralization of currency had, yet the decentralization remained in the hands of the Blockchain nodes that mine for the currency. A regular person cannot use its decentralization to its full. There is absolutely no way to know what kind of person is on the other end, making a transaction to your wallet or using your business platform to make crypto transaction. Even the Blockchain nodes cannot know anything about the actual identity of the users who made a transaction on the Blockchain. Due to its hiding nature, Blockchain and crypto-currency are the biggest and potentially the easiest targets for money laundering and making illegal transactions.

Current financial institutions can’t determine AML risks associated with virtual currencies, which stalls them from exploring the cryptocurrency ecosystem, ultimately hindering commercialization and wide adoption of cryptocurrencies. Even many platforms running on the Blockchain lack resources and technical support to comply with AML laws. This will enable money coming from unwanted authorities to flow freely on such platform and thus launder money for such authorities. These incidents can take away the public trust from your platform or even the crypto-ecosystem thus affecting millions of people who work on the Blockchain platform. Consequences of not complying with AML and CTF laws could vary from closing your business, large monetary penalties, and even imprisonment.

This is the problem ‘Confirm’ wants to tackle. Confirm is launching a AMLT token to address these needs of the Blockchain community.

What is AMLT?

Studies show that the regulations like Anti Money Laundering (AML) and Counter Terrorist Financing (CTF) laws will hinder the growth of Blockchain world. Not all platforms or businesses are capable to conduct a proper KYC process, which turns out to be disastrous for business owners. Confirm’s platform as of now delivers AML/CTF solutions for the cryptocurrency and Blockchain based companies. The addition of AMLT token to the platform further enhances its effectivity and transparency. AMLT token can be used to make all the payments for buying from a wide range of prepaid platform and while accessing rights on Confirm platform. So, the users can spend AMLT tokens on the platform for accessing verification services. These AMLT tokens are then re-distributed as an incentive to the platform users for rating and providing valid information about other market participants in the Confirm AML/CTF platform.

Coinfirm Features:

· Coinfirm allows businesses to get a calculated quick assessment of Blockchain addresses. This data is constructed by over 200 risk assessment algorithms. This assessment is about $0.02 per call.

· A better and deeper insight to an address profile is somewhat costly ($3 to $12.5) but can be considered for major transactions, in order to access ‘fundamental threat indicators’ and ‘financial indicators’ given by the platform.

Additions to Coinfirm after integration of AMLT to the platform:

AMLT describes itself as a ‘token of compliance’.

· Coinfirm has a rating feature for every Blockchain user (Known as c-rating). Introduction of a valuable asset that can be given as an incentive to the network users will allow Coinfirm to get more and better ratings about each user registered on its platform.

· Platform users will be given AMLT tokens for providing ratings and information about specific Blockchain addresses.

· AMLT will be a fuel to the platform. The users can use the tokens for prepaid products on the platform and to access rights to the AML/CTF Platform.

· Adds additional transparency to the existing platform.

AMLT token sale

The AMLT token sale is scheduled to commence on 28 of November 2017. 1$ will be worth 10 AMLT tokens. In case you want to buy AMLT tokens before the actual release of the token, a minimum of 500,000 AMLT tokens have to be bought.

There are in total of 400,000,000 AMLT tokens of which 210 M are for the crowdsale, 120 as incentive rewards and the rest will be reserved for founders and other team members and any other payments that the platform makes.

There are 10%-30% bonuses during the token crowdsale.

Conclusion

Confirm’s ultimate aim is to build a global standard product for regulating the transactional process of cryptocurrencies to comply with AML and CTF laws and enabling all its participants to have clean and transparent funds. Addition of a new token (AMLT) system to the platform will add to its transparency and will make it more effective in evaluating the Blockchain users. Coinfirm can be successfully claimed as a financial advisor to your business that will help all upcoming Blockchain companies to bypass KYC by relying on Coinfirm’s AML/CTF platform analysis by giving them user verification and validation by a simple API call.

What are you waiting for?

More Information About AMLT https://amlt.coinfirm.io/

Follow us:

Website: https://amlt.coinfirm.io/

White Paper: https://amlt.coinfirm.io/pdf/white-paper.pdf

Author:

Gugun182: https://bitcointalk.org/index.php?action=profile;u=1268521

Myetherwaller: 0x7efFF5Dd57485721299cb4b79D8AE45993FDa6cE