giovedì 19 ottobre 2017 - Innovating Security

PRESS RELEASE: - Innovating Security

One of the major goals of blockchain since it was originally conceived has always be security.  A lot of attention has been paid to assure both parties that no one can pry into their affairs, but what about access.  Yes, there are two key configurations, and some "secure" websites require a series of id verifications to open an account. These are wonderful, and go a long way to providing security; but really, they are nothing that isn't already a pretty common practice.  Equacoin is ready to make a change.

While Equacoin plans to offer a lot of things that people are growing in use to when exchanging and trading, and they also plan to solve some issues that are beginning to show; Equacoin wants to take security to the next level.  The next big leap is biometrics. 

EquaCoin's idea is to build an innovative monetary instrument; in particular we focus here on the monetary policy of issuance of the currency and the way it is distributed.  Aside from the fact that EquaCoin will be bought and sold in exchange for other currencies and cryptos, the issuance mechanism is governed by a democratic consensus from the people who have downloaded the Equacoin APP.  

This wallet will be available just before November 3, 2017, just in time for the initial crowdsale.  The very first time you download the wallet you will find one EquaCoin inside: it is our welcome gift to all new users to our blockchain platform. 

To activate the wallet you must provide your identification data because the system is not anonymous. Individuals who register with Equacoin are restricted to only one account per person, will comply with KYC/AML regulations, and have multiple tiers of biometric authentication associated with their account.

Cryptocurrencies have long had the problem of the individuals losing access to their private keys and other credentials, or the physical device it was stored on. With EquaCoin, the coins you have from the EquaCoin ecosystem, or any other cryptocurrencies stored on your wallet, can be accessible even with the loss of a device or private key.

No fault or loss: With multiple tiers of verification, biometrics and other features to safeguard your wallet, our guarantee is that if your wallet belongs to you and you are locked out - we can use our secret sharing algorithm that has all your identity framework to verify you and give you access back. 

The broken pieces of this algorithm will be stored across the blockchain and associated with a customer and their credentials using their biometric data such as fingerprint, face recognition and a location log. This will ensure that we are in compliance with the current and future regulations from Finma, SEC and other comptroller bodies.

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