EQUACOIN AG, Innovating Crypto Currency Security
By AccessWire, October 31, 2017, 03:35:00 AM EDT
EquaCoin - the first Crypto Currency to utilize Biometric security to ensure that no one will never lose their investment.
NEW YORK, NY / ACCESSWIRE / October 31, 2017 / — The major goal of blockchain, since its inception, has always been a way to verify authenticity and therefor improve security. Yes, there are two key configurations, and some "secure" websites require a series of ID verifications to open an account. These “traditional” authentication methods go a long way to providing security; but as witnessed by the increase in Identity theft, technology has found a way around these methods. Equacoin is ready to make a major change.
Equacoin plans to solve these existing security issues by utilization of a next level of security, Biometrics.
EquaCoin is bulilding an innovative monetary instrument; in particular we focus here on the monetary policy of issuance of the currency and the way it is distributed. The Coin Holders will determine when and for what purpose new coins will be issued, true monetary democracy, the issuance mechanism is governed by a democratic consensus from the people who have downloaded the Equacoin APP.
Upon activation of the wallet individual identification data must be input, as the system is not anonymous. This information will include the traditional factors such as name, address, email etc. it will also require Biometric identifiers to be input as a further security measure. Individuals who register with Equacoin are restricted to only one account per person, which will comply with KYC/AML regulations along with the multiple tiers of biometric authentication associated with their account.
Cryptocurrencies have long had the problem of the individuals losing access to their private keys, other credentials, or the physical device it was stored on. With EquaCoin, the Crypto Currencies( Equacoin, Bitcoin, Ethereum etc.) in an individuals wallet can be accessed even with the loss of a device or private key using the new Biometric Security protocols.
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 Equacoin is in compliance with the current and future regulations from FINRA, SEC and other comptroller bodies.
The Initial Democratic Coin Offering (IDCO) is scheduled for November 30, 2017. Hub Deals Corp., an innovative, online Fine Art and Luxury lifestyle items auction platform has invested in EquaCoins as it believes in the underlying concept of the EquaCoin Democratic process.
Marco Saba, CEO
Alte Steinhauserstrasse 1
6330 CHAM, ZUG (CH)
TEL +41 79 7941 938
Name: Marco Saba
Email: Send Email
Organization: EquaCoin AG
Address: Alte Steinhauserstrasse 1, 6330 Cham, Zug CH
Phone in Italy: +39 331 334 1239
Source URL: http://www.nasdaq.com/press-release/equacoin-ag-innovating-crypto-currency-security-20171031-00129