What is Verify Once and How Does It Work?
Fraud is a huge problem today. Each year, millions of people worldwide are thought to be a victim of identity theft each and every year, in addition to insurmountable amounts of profits lost by businesses for similar reasons. It is why many governments around the world have introduced various Know Your Customer (KYC) and Anti Money Laundering (AML) laws to counteract this. It is extremely likely that you have had to verify your identity - by providing a copy of your driving licence, passport or identity card – when applying for services or buying goods online (especially financial products and services). This process causes problems for both individuals and businesses. For individuals, it can take many hours or even days to become verified, by which time you may not need the product or service anymore or have found another quicker alternative. Likewise, for businesses to check the identity of all customers in such detail is very time consuming, costly and harms conversion rates. Verify Once has been built to solve these issues. We know it can be frustrating to keep verifying your identity with each new company you wish to buy products from or whose services you wish to use. Especially when this process can take many hours or even days, leaving you without the product or service you need - perhaps desperately. The reason why we created Verify Once was to reduce the time and need to go through the verification process with multiple companies online and keep providing the same documentation again and again. This is why Verify Once does exactly as its name indicates. All you have to do is verify once, and you will never have to verify again in the Dagcoin ecosystem. But what do you need to do to verify yourself once and for all, and how long does it take? Getting verified with Verify Once is a quick and easy process that takes just a couple of minutes. All you have to do is enter your personal details, and upload a copy of a valid identity document as well as proof of address. Hit submit and you will receive an answer in just 60 seconds. Once your documents have been verified, they will be connected to the email address you registered on the Verify Once platform. To ensure that you and you alone have access, your account will be password protected. Meaning that only you have access to your verification data, all approved accounts with different companies/websites, and the possibility to apply for verified accounts with new businesses whose products you wish to buy or whose services you wish to use. Verify once - and never go through verification again in the Dagcoin ecosystem with any merchant that accepts VerifyOnce. But it isn’t just individuals that are at risk. Ecommerce, online gaming, and even social media companies are at high risk. Anyone with an e-commerce shop will be all too aware of chargebacks and fraudulently used card details. The new wave of Know Your Customer (KYC) and Anti Money Laundering (AML) laws are therefore widely welcomed. However, understanding and meeting these legislations can be difficult. Some larger companies and even smaller ones have taken specialist legal, AML or fraud staff on board in an effort to meet these new laws. But staff are often not just needed to set up and update these processes, but also to monitor and verify customer applications and accounts on a daily basis. This can lead to all kinds of outcomes, businesses that can verify customers quickly and efficiently, while at the same time greatly reducing fraud, can grow significantly. While companies with a slow, inefficient or weak process can see far lower customer conversion rates, and increased cases of fraud, criminals see them as a weak link in the industry. Verify Once processes and verifies customers, so you don’t have to. Saving you both time and money. At the same time meeting, all necessary Know Your Customer regulations. This is done by using state of the art technology which is fast, secure, automated, and integrated with artificial intelligence. Meaning that as criminals adapt and improve, so will the system. Conclusion Fraud costs both individuals and businesses around the world billions each and every year. This is why governments around the world have introduced various Know Your Customer and Anti Money Laundering Laws. This means as individuals you are often asked to confirm your identity by providing a copy of your ID, driving licence or passport when buying products or applying for services online. Businesses ask for this information not just to meet these regulations, but to keep you safe and prevent revenue losses to fraud. However, for individuals, the verification process can be time-consuming and repetitive (having to submit the same information again and again to different companies). And, for businesses, it is costly in terms of hiring the staff to check through your data and hiring experts to set up these processes. Verify Once gives you the chance to verify just once and then buy any products or apply for any service without needing to verify again in the Dagcoin ecosystem (with any Verify Once partner) and for businesses the safety and security of a system that meets KYC regulations, while at the same time cutting costs dramatically. Visit https://verifyonce.com to learn more.#Dagblog
Samson Mow to Advise El Salvador Crypto Adoption
Samson Mow, a Chinese-Canadian cryptocurrency entrepreneur, said on Thursday that he has launched a new firm named Jan3 to promote bitcoin adoption. He stated that the company has inked a memorandum of understanding (MOU) with El Salvador to create digital infrastructure. Mow, who lives in Shanghai, advised Salvadoran President Nayib Bukele on a $1 billion bitcoin-backed bond offering that was postponed last month due to the invasion of Ukraine and cryptocurrency market turbulence. “It’s a general MOU that says we’ll work together to build digital infrastructure for the country and for Bitcoin City(...)” Bukele suggested a ‘Bitcoin City’ in November, which would offer tax benefits to investors and utilise geothermal energy supplied by a neighbouring volcano. According to Mow, it's too early to place a monetary figure on the arrangement. The name is a tribute to the birth of the bitcoin network on January 3, 2009. Last year, El Salvador made bitcoin legal tender. Following a significant drop in the token's price since hitting a high in November, the move has been met with widespread scepticism. Mow was formerly the chief operating officer of BTC China and the creator of Pixelmatic, a video game production studio.#Cryptonews
What’s DAG-chain and How Does It Work?
Every day more and more people are switching to opportunities created by cryptocurrencies. While blockchain is currently the focus of many technology companies, DAG technology presents a viable alternative for different technological verticals: reducing transaction costs, improving transparency and increasing efficiency - all whilst providing a sustainable platform for companies to maintain the integrity of digital assets and transactions. In a highly competitive marketplace, DAG could really be the future of cryptocurrency. What is DAG-chain? Directed Acyclic Graph (DAG) technology provides a new and unique way of imbuing all the benefits of blockchain within a more succinct system. Like blockchain, users on a network can secure each other’s information by referencing the previous unit transactions they created. However, unlike blockchain, DAG-chain transactions are confirmed between users in topological ordering. This means that information with any given value can only go from earlier to later in the sequence and does not have to loop back on itself to gain verification. This cuts out a lot of time making transactions and requires far less power to activate. Data is therefore sent from one node to another without having to loop back or follow a particular route. Think of it like a river that continues its course forwards in a sequential stream. Over time, tributaries join this river without slowing it down but instead creating a more powerful and faster flow. This river is always directed in a certain direction and does not have to go backwards to reach its final destination. This technological advancement allows DAG-chain to be used by larger communities as it's more scalable. What's more, the bigger the user base, the faster the transactions become without affecting the cost.#Dagblog
President Biden Issues Sweeping Crypto Executive Order
In a first-of-its-kind executive order, US President Joe Biden instructed federal agencies to coordinate their efforts in creating cryptocurrency rules. The executive order, which is the first of its kind to focus only on the rapidly rising digital asset sector, orders federal agencies to better explain their work in the industry, but it does not specify any specific stances the administration wants agencies to take. “We remain committed to working with allies in the broader digital asset community to shape the future of digital assets systems in a manner that's inclusive, consistent with our democratic values and safeguard the integrity of the global financial system(...)” stated an official According to a fact sheet provided to reporters, the executive order would set six key priorities for the administration: defending U.S. interests, protecting global financial stability, avoiding illegal uses, fostering "responsible innovation," financial inclusion, and U.S. leadership. The executive order's focus has long been speculated to be on national security. National security is mentioned a few times in the fact sheet describing the order, and an administration source said the government has already started working on resolving these issues.#Cryptonews
Your Burning Dagcoin Questions Answered
The truth is, a lot of what we do here in Dagcoin may be slightly unclear to some of you. Therefore, we’ve put together some of the most frequently asked questions about Dagcoin in one article in order to provide some clarity.
Dagcoin – Overcoming The Blockchain Speed Problems
Just over ten years ago. If you wanted to send money to someone on the other side of the world, you would have sent it via a traditional bank transfer. For those of you that made such transactions, you will remember all too well how they took five business days or more to be received. And to top it off, you were hit by a transaction fee of around 5%, which could become very costly if you were sending a lot of money.
Dag Tech Day II: the things you need to know about DeFi
The second Dag Tech Day was a DeFi special, taking a closer look at the pros and cons of one of the fastest-growing sectors in the crypto industry: decentralised finance. Often referred to as the future of finance, DeFi is seen as a shift from traditional centralised financial systems to peer-to-peer finance enabled by decentralised technologies built on decentralised solutions.