Episode Highlights:
- 00:17 – What Advice You Would Learn From This Video
- 01:11 – How Bitcoin Is Going To Disrupt The Industry
- 02:03 – What Makes This Coin Attractive
- 02:50 – What Is Aml Coin
- 03:12 – What Is Kyc And Aml
- 05:19 – How Does The Aml Coin Work
- 06:37 – The Reason I Have Mixed Feelings For Aml Coin
- 07:12 – When Was Aml Bitcoin Created
- 07:44 – Features Of Aml Token
- 08:21 – Future Of Aml Coins
- 09:17 – Who Created Aml Coins
- 09:48 – More Features Of Aml Bitcoin
- 10:04 – Who Can Use The Aml Bitcoin
- 10:52 – The Token Sale
- 11:18 – The Business Model Of Aml Tokens
- 13:15 – How Government Will Stop Illicit Activity Happening On The Block Chain
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Transcription:
Hey guys, what’s up it’s Dan again from cryptocamacho.com where each day I teach you how to make money in crypto currency. Sometimes we talk about trading, sometimes we talk about ICO’s. But every single day I’ll teach you how to make more money in this crazy crazy crypto currency revolution that’s going on right now.
00:17 – What Advice You Would Learn From This Video
Today guys I want to talk about ever specific ICO. It actually comes at a very very good time. Yesterday if you guys watched a video, I talked about how a number of third-party regulatory agencies such as title companies, mortgage companies, insurance companies, governmental type of agencies, how they are about to be disrupted by crypto currency. How alt coins, bitcoin are literally about to shakeup fiscal and monetary system. They are about to shakeup the entire regulatory environment in the United States and worldwide among governments.
Governments don’t really know how to control a bitcoin. They don’t really know how to control what’s going on in the crypto currency space today; anonymous peer to peer transactions, how do they regulate that? How do they collect taxes on that? How do they actually enforce the identities of people that are interacting and transacting across blockchain, across tangle chains, across whatever you want. How does that actually happen?
01:11 – How Bitcoin Is Going To Disrupt The Industry
And so the reason I say they ICO that I want to talk about comes at a very very good time because yesterday I talked about how bitcoin and altcoin are going to disrupted this industry, this third-party regulatory industry that we’re seeing in the United States government and other governments in the world. And ICO that I’m about to talk about today right now actually addresses this issue head-on. So I have to admit that I do have some kind of mixed feelings about this ICO. On the one hand I think it is going to be a very very good opportunity, a way that a lot of people can make money with this ICO, with this particular coin. On the flipside it is aligning a little bit more to what the government and what the world markets like to see; a way to check transactions across block chains, a way to identify and verify people are making certain transactions on the Block chain. And so I have mixed feelings about it.
02:03 – What Makes This Coin Attractive
but the reason I’m talking about it today is because I think there is tremendous potential because what I think this company is about to do, they’re going to fully align with US governmental regulators to really help usher in this crypto currency revolution into the government space, into the regulatory space. And just that in and of itself makes this a very attractive coin, a very attractive investment. For me because if anybody’s trying to align crypto currencies, it’s government, its banks, each of these third-party institutions that feel threatened by the current technology that’s about to come out. So I think there’s a lot of potential here because these institutions will may be aligned to this crypto currency and they will get institutional adoption which will drive up the price of this particular coin.
02:50 – What Is Aml Coin
So let me jump right into it. The coin that I want to talk about today, the ICO I want to talk about today is AML Bitcoin. There is a new client coming out, it is called AML Bitcoin. And what is it? What exactly am I talking about when I say AML coin? Essentially what this company is trying to do, is they are trying to bring the KYC and the AML compliance regulations unto the blockchains.
03:12 – What Is Kyc And Aml
So what is KYC, what’s AML? If you don’t know what that is let me give you a quick overview of what that is. Let’s go over to Wikipedia and let’s look at what AML is. AML is anti-money laundering. So in the regulatory space amongst all these governmental institutions across mortgage companies, titles companies, car insurance companies, all these financial regulators, all these different types of companies, they follow a set of principles and practices and regulatory compliance laws to prevent money laundering, to prevent terrorist activity, to prevent drug activity, underground black markets. And there is a process called AML and the K YC process to ensure or to validate people who say who they are they are. So think of a bank, when you go to the bank, you go ahead and open a bank account, you maybe give them your driver’s license or passport or your ID, your address, your phone number, your Social Security number. They use all this information to validate and verify that you are who you say you are so that you cannot commit fraud against that bank or against anybody using your financial transactions. That is what the process really enables these companies to do. It enables them to follow a very specific set of rules and regulations that adhere to US law and allows them to then check against people that have signed up to do business with a certain company or a certain institution.
04:41 – What Is Kyc
So let’s take this a step further. Know your customer. KYC process, let me just read this really quickly from Wikipedia to give you guys some context about what I’m about to talk about. So KYC or Know Your Customer is the process of a business identifying and verifying the identity of its clients. And so it is exactly what I said. It is how the banks, how the biggest institutions, the regulatory companies verify one individual from the next. There is tons of fraud in the world, there’s tons of terrorism, there’s tons of illicit activities going on. These are processes that are put in place by regulators to ensure that that fraudulent activity does not happen.
05:19 – How Does The Aml Coin Work
So now let’s jump back to the AML coin, let’s jump back to the AML website. So what is AML actually trying to do? Let’s jump down and look at how this is actually going to work. So right of the bat, it says AML bitcoin is the world’s first AML, KYC coin that is compliant with the biometric identification. So what this means, is that they’re going to take the AML KYC that banks have to follow, that institutions have to follow today and they are essentially going to bring that onto the Block chain so that they can validate all of that information and store it literally on the Blockchain so that there is no question about who is who. And then they’re going to bolster it with biometric identification data.
So think about this, in a transaction you make with a bank, with the title company, with a mortgage company, any type of financial institution, and a transaction you make will be recorded on this Block chain, on this coin and would help regulators understand who is transacting what on the Block chain overall. And so this is a way for them to be able to detect fraud, to detect money-laundering schemes, to detect illicit activities, may be drugs being sold underground. This is a way for them to track what’s actually happening in this crypto currency space.
06:37 – The Reason I Have Mixed Feelings For Aml Coin
So when I said I had mixed feelings about it it is because on the one hand you have bitcoin which is supposed to be a decentralized distributed network that enables peer to peer transactions with money. But then on the flipside you have this coin which is essentially trying to undermine what bitcoin is trying to do. So I do have mixed feelings about it but I believe in this as an investment because of the potential that it has two align with institutions, with regulators, with US government. I mean, they are going to adopt it, they are automatically going to adopt it and it is automatically going to drive the price of this coin up through the roof.
07:12 – When Was Aml Bitcoin Created
One other thing that makes me comfortable about this coin is that this company has been around for a while. Let me jump over really quickly to the AML bitcoin website. So AML bitcoin was created several years back. It was created by the NAC organization. It’s been around since 2012. And here’s the website, you can kind of browse through it if you’d like and see what they do. But essentially they are trying to set up these regulatory compliance adherence codes, if you will, on the Block chain on their coin. And so they are launching a token sale to really start driving this home.
07:44 – Features Of Aml Token
So let’s dig in a little deeper. If we scroll down on the website, AML Bitcoin was created with anti-money-laundering, anti-terrorism and antitheft resistant properties built into the code of the coin. And as a result it is in compliance with a host of laws. AML bit coins are compliant with AML, CFT, AFF and all of these other regulatory organizations. As I just mentioned the NAC foundation utilizes biometric identification to verify owners of what it that hold the AML bit coin. This will provide additional security and safety features for ownership and use of AML bit coin.
08:21 – Future Of Aml Coins
So I can see this in the future that certain companies, at least kind of have an intermediary step between when we go from completely government controlled and centralized finances to completely decentralized finances and complete peer to peer transaction. There is going to be a middle ground, there’s going to be a middle layer there. It’s not going to all happen overnight. That middle layer is going to be something like an AML bit coin. It’s meant to be something like a fed coin, where you’re using crypto currency, where you’re able to use crypto currency to make transactions and you get all the benefits from Block chain technology but it is compliant with US law which is compliant with bank law, federal law, state law, monetary policy, fiscal policy; it’s all compliant and kind of wrapped up in there. And my guess is that governments are going to be pushing coins like this so that they can start really understanding and see what is really going on with these transactions in crypto currency and to detect fraud and so on and so forth. So that is why I find this really attractive guys.
09:17 – Who Created Aml Coins
Let’s go down to bit further. If we scroll down on the site. AML Bitcoin have been designed by the NAC foundation and builds into the coin platform. They’ve already created a coin in the past called the Aten coin platform that was created a couple of years ago. And the AML Bitcoins essentially an upgrade from that. So these guys know what they’re doing, they’ve been around for a while, they’ve been in the crypto currency space for a bit and they know what they’re doing. This isn’t just some thrown together ICO, through together white paper, these guys have been doing this for years; at least five years, from 2012 and even before that.
09:48 – More Features Of Aml Bitcoin
All AML Bitcoin transactions are transparent and recorded in the Public ledger and the senders and receivers are synonymous to the public. The transaction validation is decentralized. Every AML Bitcoin holder can join the process through a POW, POS mining system.
10:04 – Who Can Use The Aml Bit Coin
That’s going to bit further. Who can use the AML bit coin? Really, anybody can use the AML Bitcoin but would like to use it. Let’s read that. For those looking to use the AML Bitcoin fortransactions, a series of KYC AML real-life verification is required. AML Bitcoins the only crypto currency that is compliant with the US Patriot Act, the bank security act and money laundering and US office of foreign assets control as well as other worldwide standards. That right there guys is exactly why I think this coin is going to do well because governments are going to latch on to this stuff and they’re going to just eat it up. They are going to chomp it to bits to latch onto this kind of stuff.
In a world where they don’t understand crypto currency, in a world where they don’t understand really how transactions are happening and by whom they are happening for and against, this makes complete sense for the government.
10:52 – The Token Sale
So now let’s jump down to the token sale. So the token sale, the private sale is already complete, first phase was already open back in October. We are now in phase 3 and there are 40 million tokens available at $1.50 per token. If you want to buy this token of course you just go through and you buy the token. There’s a button here at the bottom. I was showing in just a moment. That order is at the top here, you can go ahead and buy the tokens right here.
11:18 – The Business Model Of Aml Tokens
But before we do that I want to jump into the white paper. So let’s jump into the white paper. And the thing I want to highlight on the white paper here is more around the business model of AML tokens. Let’s go ahead and scroll down a bit. Let’s see if I could find where it was.
So business model right here. And this is intriguing. So essentially AML Bitcoins the successor to a previous coin that was created. And it essentially is an upgrade. It is a better version. You can call it a hard bark if you will, even though that’s not what it is; it’s an upgrade.
And let’s keep going down, there’s something specific I wanted to show you guys in here. The government compliance and the creation of AML Bitcoin and AML and KYC compliant currency. That’s a very very important guys even if you don’t understand AML and KYC. If you work for a Fortune 500 company, guarantee they are employing many of these rules, regulations and laws that pertain to AML and KYC processes. And so this is very important. In a nutshell the dilemma presented by crypto currency while digital currencies have been gaining acceptance as a means of transacting commerce, these currencies have a reputation of facilitating criminal activity and this has been the focus of financial regulators and legislative bodies, law enforcement and the media. This concern has not been founded and there have been notable cases of crimes facilitated by the use of Bitcoins discussed in more detail below. Think of Mount Gox, think of Silk Road, think of all these different hacking scams that have happened. This is exactly what they are talking about.
13:15 – How Government Will Stop Illicit Activity Happening On The Block Chain
The development of identity based AML compliant digital currency commenced in 2012 and NAC formed in 2014. using proprietary technology this identity based digital currency is compliant with the laws, statutes, rules and regulations that govern and relate preventing money-laundering terrorism, identity theft, financial crimes and to know your customer laws. And specifically the US and strengthening America providing appropriate tools required to intercept and obstruct terrorism act of 2001, the patriot act. And B, international money-laundering abatement and financial terrorism acts 2001.
So I’m not going to dig into this too much deeper but I think you guys get what I’m trying to say. This is a way that the government is going to try to stop illicit activity happening on the block chain. And I think it is smart for them to do that. I think it is even smarter for this company to come through and provide a solution to the government for this which the government can then enforce the public to use. And I think that is exactly what is going to happen. You’re going to see in the coming months, if not sooner, are in the coming year, you’re going to see the government coming down hard on bit coin, on crypto occurrences. They’re going to try to regulate it, they’re going to do everything in their power to regulate it, to monitor transactions, to know who’s buying and selling it. And this is exactly how they are going to do it; through tokens like the AML token. That is very important guys because institutions will be mandated to back this coin and that is right is attractive to me.
So I’d be very curious about your thoughts on this. I’d really really love to know what you guys think about it because I do have mixed feelings about it. I will likely invest a little bit in here just to see how it plays out and I’ll be watching this very closely because I do have mixed feelings about it but I do think it is a smart thing that they are doing.
One last thing I want to leave you guys with before we drop is I want to show you the team. So the team, they have been around for a while. They are not a bunch of newbies in the crypto space trying to make a quick buck, they’re actually trying to build a business that complies with US law, with worldwide our global law around KYC and AML compliance. These guys are veterans, they’re veteran professionals, they’re experience, their worldwide, you can just take a look at all their profiles. Go to their LinkedIn pages here, you guys can see the vast experience that they have billing on crypto currency, working on compliance issues with the regulators. So anybody who is going to bridge the gap between bit coin, crypto currency and the Wild West and a traditional fiscal monetary institutional kind of oversight, these guys are definitely going to do it.
So hopefully that was interesting to you guys. I know it is to be difficult to take this all in. There is a lot to this client. This one is a bit more complicated than the others but this is why I find it fascinating because I think this stuff is coming down the pipe. I think you’re going to see countries adopting things like this very very shortly and it is perfect timing for this ICO to be going live.
Let me know what you guys think. I would love to know if you guys are for or against this. Either way. You guys think that this undermines bit coin, think it undermines the legitimacy of block chain, using that it is really just creating an oversight layer on top like a bank riot that basically takes utterly to bit of the money and transactions on top or skims off the top, kinda like bank do. I don’t know but I’m really curious here on your thoughts on it.
So that’s it guys, love to know what you think. I am Dan from cryptocamacho.com. Hopefully this has been helpful for you guys. Leave a comment in the section down below. You can see the links to this website, to the ICO below as well. If you have a question please do let me know as well. If you haven’t subscribed click on that little red button right here. Click on the little red button, subscribe and I will give you more updates tomorrow. See you guys.
