Whether you agree or not, cryptocurrencies like DasCoin are now a reality. Many have failed while others are thriving amidst a barrage of constant attacks and mistrust.
But does blockchain technology need to completely disrupt the time-tested financial industry?
Must we have trust-less systems to enjoy blockchain technology?
These are the questions that DasCoin tries to answer.
The Key Trust of DasCoin
As a trust-based permissioned blockchain, DasCoin promises to bring confluence between the current centralized money systems and blockchain based solutions for the first time.
It has, as a result, become the first ever cryptocurrency with a real potential of going mainstream.
The array of world-renowned experts who have made the DasCoin project possible have one stated mission;
“To systematically spread prosperity throughout the world by building a sound-money system.”
DasCoin Combines Security, Utility, Liquidity and Asset Appreciation to create a system managed by a decentralized and global set of synergistic companies, working together to combine the strengths of traditional fiat and cryptocurrency into a hybrid ‘Currency of Trust.’
The DasEcosystem, as it is now known, provides an amazing haven for DasCoin to store and transfer value.
It has done this by bringing together what is arguably one of the best technologies and brains money can buy.
This has been made possible by the combination of several amazing factors;
- a world-class hardware infrastructure,
- a decentralized blockchain,
- a highly secure and user-friendly wallet system,
- a government regulation-friendly “know your customer” authentication process and,
- an incentivized global marketing initiative
all rolled into one!
In other words, DasCoin is poised to shamelessly borrow the good from both blockchain and fiat currency systems and remove the frailties of both concepts through an incredible think tank to build a digital currency that governments and Fintech enthusiasts can live with, and thrive in.
And they have done this through several very well-orchestrated moves.
Let’s start with the team
There is arguably no other blockchain based Fintech solution that has as many teams running the evolution of its ecosystem like DasCoin. In fact, DasCoin’s is a Team of Teams arrangement.
Let us look briefly at these teams to understand just how deep they are managing all aspects of the ecosystem;
#1 DasCoin Ltd – Hong Kong
This is the core team that has developed DasCoin. The DasCoin blockchain is the nexus that brings together all the other entities that will make the DasEcosystem a reality. They have created DasCoin, ‘The Currency of Trust.’
They control the currency distribution, expansion/contraction mechanisms, value basis and inflation dynamics of the entire ecosystem.
#2 DasFinancial – Switzerland
DasFinancial is the gateway to the global DasEcosystem.
They are running DasPay, the system that will allow DasEcosystem users to buy anything across the world with a physical card or a mobile device. It will operate wherever MasterCard and VISA is accepted.
They will also offer financial advisory services to all businesses that join the DasEcosystem, allowing different jurisdictions to adopt and accept cryptocurrency technology.
They are also building a global currency exchange that will allow license holders to trade other cryptocurrencies with DasCoin and fiat.
#3 WebWallet Pte Ltd, – Singapore
Taunted as the world’s most secure digital wallet, the WebWallet is a powerful tool in the DasNet with many powerful features. It enables instant payments in 60 million outlets worldwide, provides exchange functionalities used by the DasExchange.
#4 NetLeaders – Singapore
NetLeaders have created an incentivized, cutting-edge marketing community for the DasEcosystem. Through careful selection of global leaders across five continents, NetLeaders is engaged in a deliberate and targeted campaign to train its community to attract new members and keep the ecosystem growing.
The promise is that constant participation in the ecosystem bears rewards for the user through incentives.
#5 Carta Worldwide – Canada
Contracted by DasFinancial, Carta Worldwide will facilitate mobile payments via proprietary solutions on the DasNet.
In short, DasCoin has heavyweights in every department needed to create a global phenomenon, while most other cryptocurrencies simply have a development team and set of algorithmic rules to run a blockchain.
The Current Problems with Cryptocurrencies
After reviewing many cryptocurrencies it is easy to identify underlying issues with each technology. Many projects have launched trying to address the problems predominantly present with the cryptocurrency they are forking off from.
Unfortunately, most of these issues cannot be wished away.
Proof of Work:
From Bitcoin to all the altcoins using proof of work, it is now clear that this system is critically inefficient and incapable of maintaining a world currency.
Not only is it uneconomical and unfriendly to the environment, but it also forces the blockchain to concentrate its mining power in cheap electricity zones.
This redistributes a critical component of the blockchain to a potential threat of territorial attacks as happened in China recently.
Proof of Stake:
Blockchains using proof of stake have pre-mine problem.
It is often unclear how initial tokens are distributed, and there is no justification for the high volumes of some wallets, making the value chain arbitrary and enriching people with little effort.
Other than these fundamental problems, cryptocurrencies and blockchain businesses grapple with low processing speeds, escalating fees due to long queues, limited block sizes and lack of quick consensus on critical improvements to the blockchain.
Blockchains are also hard to regulate, and this creates an acrimonious and uncomfortable co-existence between them and the establishment.
Fiat Currencies also have Problems
Everyone knows that paper money we use is only valuable because the government has deemed it so. At least at the beginning. What follows is market driven appreciation or depreciation, which is often a result of the activities of the same government.
When it comes to transferring or storing it, we can only trust third parties like banks and money changers to do so and are usually charged handsomely for it.
Fiat currency is also mostly territorial. Dollars are only usable in the US, and Euros only in Europe. This makes international trade and money transfer a tedious affair.
Corrupt regimes are capable of abusing fiat currencies by simply printing more paper in hopes the value remains.
Ten Reasons Why DasCoin is Different
a) Authentication of Users: the DasNet has strict KYC procedures. They will even use biometric data and are more thorough than most banks.
b) Enhanced Security: a proprietary hardware device called “The Validator” authenticates every transaction before it is broadcast onto the blockchain.
c) Greater Liquidity: through the enabling of multiple exchanges, superblocks and institutional incentives, DasCoin promises much-improved liquidity within the ecosystem.
d) Greater Utility: DasPay will enable almost instant acceptability of DasCoin the world over.
e) Robust Ecosystem: with independent and very committed entities running different arms of the ecosystem, stability and global scalability is almost a foregone conclusion.
f) Enhanced Efficiency: Because of its permission based consensus, the blockchain is capable of quick improvements and execution as opposed to other blockchains.
g) Wider Distribution: The Proof of Value (POV) consensus protocol prevents accumulation of wealth and helps make the system more robust and stable.
h) Full Compliance: This is the main departure between DasCoin and other cryptocurrencies. Through Legal analysis and coordination, DasCoin is working with many jurisdictions to implement the required frameworks for adoption by government agencies and financial institutions
i) Broader Adoption: an incentivized referral system has been adopted by DasCoin. It allows individual and institutional license holders to expand the ecosystem organically through MLM activities.
j) Better Performance: With transaction speeds of less than 6 seconds, this system is designed to perform better than most blockchains.
In Mid-January 2017, Michael Mathias Shared the first edit of the DasCoin whitepaper.
Two months later, the Launch of the DasCoin blockchain, which also coincided with the onset of DasCoin minting was done in Zurich, Switzerland on March 31st, 2017. New directors were also introduced to the ecosystem, and various partners gave keynote presentations.
Featured in Millionaire Asia, a monthly news editorial that is circulated among influential High Net Worth Individuals (HNWIs) leaders across Asia.
How to buy DasCoin
You can only obtain DasCoin by purchasing one of the six license options that are available, which include Standard, Manager, Pro, Executive, Vice President or President. They go for €100, €500, €2,000, €5,000, €12,500, €25,000 respectively.
You can buy multiple licenses.
You will be taken through an authentication process that allows the ecosystem to build trust in you as a member before you can be allowed to participate.
Once you are a member, you submit ‘Cycles’ or processing power to the network and are rewarded with newly minted DasCoin.
It is imperative to acquire DasCoin as early as possible because the “frequency lock” increases over time thus reducing the total number of DasCoin produced per each Cycle submitted.
The system incentivizes participants to hold Cycles via a network bonus scheme effectively doubling their number of Cycles, at least once, every 180 days.
It is true that one of the greatest achievements of blockchain technology was to create a decentralized method for creating and storing value.
This fact has now been enhanced through the decentralized minting of DasCoin, and this time in an more equitable manner avoiding an unfair accumulation of wealth.
Legal compliance, global participation, massive array of powerful wealth creation tools including a payment platform with the potential reach of 60 million merchants worldwide. All made possible by DasCoin and the greater DasEcosystem.
Trust has now met the blockchain, and even the biggest critics of digital assets must take notice.