Bank of Russia Directs Domestic Banks to Block Crypto-related Transactions

In the crypto sphere, there are many people who see cryptocurrency as a place where they can hide their assets, avoid taxes and stay anonymous. At the same time, many of us lack trust in our governments because they have spent millions or even billions on expensive or needless projects. Even worse than that are the all too common news stories of politicians embezzling public money or taking bribes. What we all want is a system where criminals cannot avoid detection and where all public money can be checked to ensure it is being spent on what was promised and none is being lost unjustly. And more than that - give billions without access to a bank account, the ability to create a credit history for themselves. Dagcoin is a cryptocurrency that offers just this transparency — the transparency that builds trust between both users and governments. Let’s find out how… Transparency for Governments It is fair to say that most of us do not trust our governments. Right?! And that lack of trust is absolutely understandable. Not only do they not fulfil their election promises, but they also squander millions or even billions on pointless projects or projects that never even see the light of day. But, even worse than that, it is believed that corrupt politicians steal over $1 trillion each year from the world’s poorest countries. But it isn’t just in the developing world where this occurs. It happens much closer to home too. Public funds are also not just stolen by the politicians directly, but by the owners, family and friends of companies who receive this money. One example of this was when a local government gave Northampton Town Football Club a £10 million loan to expand their stadium. And then, the vast majority of this money mysteriously vanished, and the improvement works promised for the stadium, although started, were never completed. It was believed that the owner of the club transferred this sum to various subsidiary companies owned by himself and family members in exchange for bogus services. Eventually, the owner of the club was ordered to pay the local government £2.1 million as a result of this theft. Despite that, many millions are still believed to have been lost for good, despite the efforts of the police and banks to track down this money. But just how could Dagcoin prevent this from happening? And ensure that money promised for individuals and projects goes where it is intended and is not lost unjustly or illegally? Full transparency of transactions is possible with Dagcoin using the Chain Explorer. This means that it is possible to see if your local government has spent the $10 million they promised on the local roads project or $10,000 on the books they promised for your children’s school. Of course, we don't need to see exactly what a certain government department is doing with their money, but having access to this information ensures that public funds and those companies that receive them have an extra incentive to use them for the decided projects and services. Because if they don’t or money goes missing, there is a traceable sequence of transactions that can be followed by aware individuals, a chosen independent authority or the police. Transparency for You Although there are many who see cryptocurrencies as a way to avoid taxes. The vast majority of us pay them diligently because we know that without them we would not have doctors when we are sick, school places for our children or police to keep our streets safe. Because of the Chain Explorer, we are all, as individuals - and businesses - able to keep a full history of transactions - just like with your bank statement. This may not seem like a big thing for those of you with a bank account. But for the 2.5 billion people worldwide without a bank account, this creates a world of possibilities. For these people opening a bank account is not possible usually because they earn too little to open an account ($1-2 a day or less). For the banks, these people cost them more than they can earn from their deposits. This means that these people are restricted to cash and have no means of creating a credit history to borrow. By using Dagcoin, to receive a salary, buy food, pay bills, etc., these people can create a credit history. This can be used to show not just their income and expenditure, but also what they can afford to pay back a bank or other lender. The minute you can borrow, you can invest, whether that is in new equipment or stock for your business, your or your children’s education, etc., the possibilities and opportunities are only limited by your imagination. In Conclusion... Imagine a world where you can use crypto not just to receive your wages, pay for bills and buy goods. But one where you can also build a credit history and borrow money? It sounds amazing, right? Now imagine that your government uses this currency too and it is possible to see their transaction history. The police can also find criminals much more easily, gone are the days of criminals thinking they can use crypto to hide money. We all want a future where our governments are more transparent and open with us because we feel they have this information about us already. Dagcoin doesn’t just provide solutions to the usability of crypto and transparency for governments and individuals. But, it gives the poorest people in the world without bank accounts the chance to build a credit history, and potentially borrow money to grow as individuals.

Many of us use cash, debit cards, and credit cards for everyday transactions. You may be wondering what could cryptocurrency really offer me that these options cannot? Maybe you or someone you know has been a victim of identity theft? Maybe you are fed up with how long bank transfers take to arrive or the high fees? Cryptocurrencies offer solutions to these and many other issues. But what about if you don’t have a bank account, debit card or credit card. This is much more common than you can imagine. In fact, over 2.5 billion people around the world do not have access to a bank account or simple banking services and are restricted to using only cash. For these people, cryptocurrencies provide their first step into banking and a world of possibilities that they have never had access to before, and it’s incredible! Let’s find out how using cryptocurrencies could improve your life… Benefits in the Developed World The biggest benefit for most people with cryptocurrencies compared to regular currencies is speed. It doesn’t matter where you are in the world, what the time of day it is, or the day of the week. A transfer will always take just seconds or minutes (depending on the currency and technology it is built on). For example, a Bitcoin transaction on average can take more than 10-20 minutes, while a Dagcoin transaction takes just 10-30 seconds. If you use a regular bank account to transfer money to another person who uses the same bank, in the same country, it will take minutes. But when you start to send this to someone using another bank or internationally, this timeframe becomes hours and days respectively. Not only do cryptocurrencies bring added speed, they also bring lower fees. Regular banks tend to charge you between 0.5% and 5% to transfer money to another account, along with a one-time transaction fee. With cryptocurrencies, these charges vary between 0.1% and 1% and with no added fees. These speed improvements and lower costs do not just make a big impact on us as individuals when sending money, but also on businesses. Imagine going from paying 5% in fees when buying your stock, to paying just 0.1%. This could be the difference between a profit and a loss, giving workers a raise, or even lowering the price of products for consumers. A little difference really goes a long way! Benefits in the Developing World For those living in the developing world access to regular banking is incredibly difficult. If people can get over the geographical barriers that may prevent them from getting to their nearest bank. They are often met with rejection. But why would a bank reject someone? Simply, the poorest 2.5 billion people on the planet are not seen as profitable customers. When their earnings are in the region of 1-2 dollars a day and their transfers are in the cents, banks are losing money from these people as the cost of providing services to them is more than the money they can earn from the accounts. Cryptocurrencies do not have any such restrictions. All you need is a smartphone and an internet connection - and you are good to go. Imagine finally having a safe and secure place to store your money. You no longer have to hide your savings in cash at home or worry about theft. Saving cash is also not a good idea as cash depreciates in value over time. Cryptocurrencies offer not just a safe place to store money, but a great investment to earn more. Only being able to use cash is also very limiting because it means you can only buy or sell products or services in your local area. Using cryptocurrencies changes everything. Suddenly you have access to anything, anywhere in the world. And it is not just what you can buy, it is what you can sell. Imagine being a maker of ceramic pots who only sell these for cash at the local market. Accepting cryptocurrencies gives people the chance to sell their products nationally and internationally online, expanding their business and improving their lives. The Dagcoin Solution Dagcoin has been made to be used and not traded like other cryptocurrencies. This is why it is not available on any trading platform. This focus on usability means that it is one of the fastest cryptocurrencies around, with transactions taking just 10 seconds. It is also one of the cheapest too. Blockchain currencies like Bitcoin ask users to confirm each-others transactions. For confirming these transactions users are rewarded with a small amount of the currency in return. This process is commonly known as mining. Dagcoin is based on Dagchain technology which does not require mining and is therefore much cheaper. Not only has Dagcoin been made to be both faster and cheaper, it has also been made to be used. As well as creating the coin, the developers of the currency have also created a free suite of software that makes it easy for businesses to start accepting Dagcoin payments, whether that is online, in a shop or via invoice. And it doesn’t stop there. All businesses who accept Dagcoin have the chance to be on the Dagcoin merchant portal, where all users (currently over 600,000 people) of the currency have a chance to find them and buy their products. The last and probably best possibility for those in the developing world is a transaction history. This is just like a bank statement. Having a record of incomings and outgoings finally gives people a chance to apply for credit, something impossible when all you use is cash. In conclusion... Cryptocurrencies offer people all around the world access to a faster, cheaper and simpler form of money. Current banking services are slow and expensive. In today’s world, no individual or business wants to wait up to 5 business days to receive an international transfer or pay 5% or more in fees. Cryptocurrencies cut this waiting time to seconds or minutes at most and, on top of that, for just a fraction of the cost – less than 1%. The cost of current banking services makes it impossible for the poorest 2.5 billion people in the world to open a bank account, as they are not seen as profitable. Cryptocurrencies do not have the same aim to make a profit. For this reason, anyone with a smartphone and internet access can use them. Cryptocurrencies provide these people with a safe place to store their money and the opportunity to buy and sell goods internationally. Something that is just not possible when all you have is cash.

Whether you’re a buyer or seller, it’s natural to be concerned with your money being safely transferred when it comes to online transactions. This is why we’ve introduced a brand new system to the Dagmarket platform — Escrow Deals. If you haven’t hopped onto Dagmarket yet, think of it as your traditional online marketplace, but for any item you can imagine. That means physical electronics, clothing, software, artwork, or even a vehicle! However, as you may have figured out by now, Dagmarket differs from any other marketplace due to every transaction being carried out with dagcoins. If you’ve been sitting on your dagcoins for a while, and are itching to spend them, it’s the ideal place to splurge! What on earth is ‘escrow’? Just in case you haven’t used an escrow system before, it essentially functions as an intermediary safe-box for your currency. Once a product has successfully been delivered to the satisfaction of both parties involved, the payment is released from escrow to the seller. Pretty simple! But how does this work on Dagmarket? If an Escrow Deal is initiated, upon payment, the dagcoins are securely held for a period that both parties agree on. After this is confirmed, the process continues completely as normal with the seller delivering the product. If the buyer is happy with the product and has received it as advertised, they’re given the ability to release the dagcoins from escrow to the seller. If the escrow window passes with no confirmation from the buyer, the purchase will be assumed to be successful, and the coins will be released to the seller. If however, the buyer identifies an issue with the purchase before the escrow window is closed, they may open a dispute at which point the Dagmarket team comes to the rescue to resolve the issue. We’re sure that our new Escrow Deal is going to give you peace of mind when using Dagmarket — it couldn’t be easier, or safer. Happy shopping!

Cryptocurrencies have yielded countless technological advancements, with fraud and identity theft prevention being just one — something that abounds when it comes to traditional banks and fiat currencies. Fraud is so prevalent in these sectors, that it’s estimated that businesses lose somewhere in the region of 5% of their total revenue to fraudsters each year, and over 16 million people annually fall victim to identity theft in the United States alone. However, these problems are almost totally eradicated by blockchain and DAG-chain technologies. With a regular bank account, the bank will hold all your personal and banking information and provides you with a card to spend and withdraw cash. So what’s the solution here? Fortunately, blockchain, DAG-chain, and other analogues almost eradicate these problems entirely. If you’re unsure as to how, consider your standard brick-and-mortar bank. The bank holds all your personal and banking data, then provides you with a method of spending your capital. All of this can be compromised through hacking, mail interception etc. With cryptocurrencies, only you, the user, has access to owned currency and personal information, none of which is disclosed when making a transaction. With external bodies cut out of the equation, the issue of fraud is almost eliminated. While this is one of the reasons many champion cryptocurrencies, a great amount of trepidation is felt by those who may have fallen prey to some commonly shared misconceptions around them. Let’s dive in. Where Perception Currently Lies It is very fair to say that over the last 10 years people have become increasingly aware of cryptocurrencies, especially Bitcoin. However, often for all the wrong reasons. Hardly a day goes by without a news story or criminal conviction regarding the use of cryptocurrencies to buy or sell illegal items on the dark web, such as the story regarding 2 businessmen who were using their own online cryptocurrency exchange business to launder the proceeds of marijuana sold on the dark web. However, these are not the only negative stories seen by the public. Go back just two years to the euphoria that was being placed around Bitcoin and its ever-increasing price and the huge amounts of money that could be made by investing. Sadly, we all know how this ended. Despite reaching a high of almost $20,000 on the 17th of December 2017, just 5 days later, the price of Bitcoin had fallen to a little over $13,000. This tumbling price generated mass panic and sales of the coin, sending the price tumbling yet further, all the way to $6000 by the start of February – just 5 weeks later. Leading ultimately to many of those new investors losing money, some, their entire life savings. And in that comes the majority of people’s views about cryptocurrencies in general - their instability. It is this instability that draws in traders - people trying to profit from the fluctuations in the prices of these coins. Large coins like Bitcoin can go up or down many hundreds of dollars each day, and smaller altcoins potentially 100’s of percent. So, what we have is a mass public who see cryptocurrencies as being used by those trying to avoid the law and by traders to make a fast buck. All leading people a long way from the original intention of these coins, to be… Money of the Future We mentioned above the increased security benefits that cryptocurrencies bring for their users, but that is not all. In one of our last posts (Helping you get a Credit History), we wrote how the poorest 2 billion people in the world are unable to open a bank account because the banks simply do not see them as profitable. Cryptocurrencies give anyone with a smartphone the chance to use them. Giving people their first alternative to cash, and a safe place to store, save and spend their money. And, in the process, create a credit history that they can use to borrow if they wish. Providing billions of people with an opportunity to improve their lives without restrictions. Because banks ultimately seek profits, this also makes them expensive to use. The cost of making a bank transfer can be anywhere from 1-5% along with a separate transaction fee. Cryptocurrency transactions cost anywhere from 0.1-1.5%, with no added fee. This means that people could save almost 5% per transaction. No small chunk of change! We mentioned earlier how fraud costs businesses 5% of their total revenues, when you add the cost savings of using crypto (another 5%), a business in a loss (perhaps on the verge of bankruptcy or layoffs) could suddenly break even or make a profit. And, for those companies already in profit, could result in better wages for employees and/or cheaper products for us – the end consumers. These reasons for using cryptos are fantastic, and there are a whole host more. To read more about the benefits of using cryptocurrencies click here. Dagcoin takes this aim of a better form of currency and makes it a reality by removing the current fears held by the public. The volatility in prices caused by trading is removed simply by not making Dagcoin available on any trading platform - making it impossible to trade the coin. In turn, by making all transactions visible on its ledger it is much harder for criminals to hide their illegal activities and profits than any other cryptocurrency. Conclusion Cryptocurrencies bring with them many great technological advancements. However, these are all too often lost due to the misconceptions created by the media. For the general public, their knowledge of cryptocurrencies revolves largely around the instability of prices, the huge gains or losses that could be made by trading or investing, and the convictions of those who are using them illegally to avoid detection when conducting criminal activities. However, cryptocurrencies: — Provide a safer and more secure place to store and spend your money than traditional methods, freeing you from the stresses and worry of fraud and theft — Cut the costs of transfers dramatically, and slice down transfer times from days (at worst) to mere seconds (when it comes to Dagchain currencies). — Allows those blockaded from building a credit history by banks the opportunity to take control of their financial lives and do just that. The list goes on, and while we could sit here all day discussing it, one thing is amply clear — cryptocurrencies are the future, and thankfully, they’re here to stay.

In today’s world, based on the way things are, keeping your personal and financial information safe when roaming the Internet is crucially important. You know that, and we know that. But the thing is, despite this being a relative no-brainer, it’s still a major stumbling block for a lot of people. The reason is likely that it doesn’t really feel that dangerous. Not everyone’s info gets compromised, and we might not even know anyone from our close social circle whose data has ever been under attack.  But then it happens. Then it turns out that it’s more frequent than it is rare.  There’s a lot of data about us, and everyone else, that’s stored on this ‘imaginary’ cloud. At the end of the day, we all want to feel secure in this bizarre new reality that’s offering so much yet keeping us on our toes at the same time.  Down below is a vivid example of the level of security cryptocurrency provides in contrast to credit card payments. Let’s dive in. A true story of safety Let’s say you’re out shopping. You’re purchasing something extraordinary and hand over your credit card to the merchant. At that moment they (the businesses) are provided with access to the full credit line (even when the amounts are small) of your card. As a process, it means that the store “pulls” the designated amount from your account, into their account. The point is that by using this method, the merchant has access to your credit card information, which also means others have access to your private information.  Enter the hero. Cryptocurrency works in a completely different way: you as an owner of digital money “push” a certain amount of coins to the merchant or recipient. No extra information whatsoever is used or needed.  Therefore, no access to the credit line is needed, and no information can be stolen. It guarantees complete privacy of your sensitive data. Your online identity is protected. Your funds are safe.  To break it down: when you use a credit or debit card to make a purchase (especially online), you provide the vendor information that third parties could theoretically steal. It happens all the time. More and more so, sadly, as technology keeps advancing.  This means if your financial information gets stolen from the vendor, your money is at risk. Be ahead of the curve. Be safe Cryptocurrency transactions are unique each time. This applies even when the parties involved are the same (let’s say you buy stuff from the same merchants over and over again). But how, you may be asking? The exchange of information means use of a “push basis” method. It means you decide upon the information you want to send to the other recipients. The traditional exchange system uses the “pull basis” method mentioned above.  If you’ve been reading our blog for a while now, you know that cryptocurrencies provide a lot of benefits: small transaction fees, fast international payments, etc. We’re delighted to say that there are more pros than cons that come with the use of cryptocurrency.  Do the maths.  Want to know more? Reach out!

Value is something marvellous we strive for in everything. Both in our personal and professional lives. When you think about it, everything is about value, efficiency, and optimization these days.  So, now, more than ever, people (including you and me) are aware of the existence of cryptocurrencies. Plus ‒ we’re all becoming even more knowledgeable about the benefits crypto is able to bring in the future, i.e., on the government level, education-wise, all-around better quality of life, etc.  But for the master plan to work, it’s absolutely vital that there be a simple solution to exchange fiat currencies into crypto, as well as the reverse. The price of this “digital money” should not, nor need be, based on supply and demand. Read about the subject of value in one of our previous blog posts about price vs valuation. Don’t dwell on the past. Look to the horizon. Back when it all kicked off, we witnessed massive fluctuations in the prices of all of the cryptocurrencies. This issue is precisely the reason that was keeping merchants away from accepting non-fiat currencies. What also happens is when crypto prices rise, folks become super active, engage in crazy promotions, and provide ridiculous promises. Then when the price falls they get scared and step on the safe side, and become extra cautious.  Fluctuation, of course, slows down, firstly, the spread, and secondly, the mass adoption of cryptocurrencies. Therefore, the value should depend on real measurables, not on the currently agreed-upon ones.  We believe that cryptocurrencies should be treated as money, not as financial instruments. We’re absolutely convinced that the value should be based on the users, merchants, and usability. So, if you want to be a winner, well, then start accepting dags.  The more possibilities there are for using the coins, and the more people that have and use them, the more valuable it becomes. Value adds even more value. Simple.    The magic word is usability (and time) A strong indicator for evaluating cryptocurrency is its usage – meaning the number of transactions performed using the coins. This doesn’t include transactions done on the exchanges, aka trading platforms, but ones completed in real life, for example., sending funds between people and buying items from the merchants.  However, coin usage shouldn’t be taken into account just yet, as the world has only just started to see the whole picture, trusting it, and therefore moving closer to adopting it.  Time-wise, it’ll take a few years for the coins (and using them most and foremost) to start making proper sense to the masses. - As a result, there will be, thanks to a large number of people who’ve adapted to cryptocurrencies, real stability on the market. How delightful would that be?    - Moreover, even the majority of merchants are going to accept the coins and will be able to cover their full supply chain with cryptocurrencies.  - There will be many possible financial services available for cryptos, and without the ridiculous costs which we’re all (still) experiencing today via fiat currencies. But, before all of the above will commence, we need to focus on spreading this info, and communicating to the masses the real benefits of using cryptocurrencies. We need to get people and merchants involved and continue building the ecosystem around the currency.  With this strategy, we believe dagcoin will be one of the biggest cryptocurrencies in the future. The sky's the limit. So, what are you waiting for? Jump aboard, and let’s forge the future of currency, together.

As of today, around 650,000 people are now using dagcoins, and this number is continuously on the rise. But for those of you who are new to cryptocurrencies, or Dagcoin in particular, just how and where do you get dagcoins? How do you store them? And, finally, what exactly can you do with them? Let’s find out… How to Buy Dagcoin? Off the bat, let’s talk about obtaining coins in the first place. Buying dagcoins couldn’t be easier or more straightforward. All that’s really required is a quick visit to SwipeX and a short sign up process. To protect you from identity theft you’ll need to go through a quick verification process. A copy of your ID card, passport, or proof of address will be needed here, so be sure to have one of the above on hand. Once you’ve signed up, we’d highly recommend enabling 2-factor authentication. This works in a very similar way to most banks and Facebook in that it doesn’t just require a username and password, but also confirmation from your phone in order to gain access. It’s always better to be safe than sorry, especially when it comes to your finances. With that all out of the way, there’s just one thing left to do before beginning your Dagcoin journey — buy some dagcoins. However, if you’re a very lucky individual who’s received a Dagcoin Gift Card from a friend or relative, you can simply redeem this instead. Get your Dagcoin Wallet Now that you have dagcoins, you’ll need somewhere to keep them. In the same way you need a physical wallet to store regular money, you need a digital wallet to store your dags. For that reason, you’ll need to click here to download your free Dagcoin wallet. It doesn’t matter if you use Android or iOS, PC or Mac, there’s a wallet version for you (even you, Linux users!). If the idea of a wallet stored on a physical device doesn’t work for you, then you can set up a web wallet which is accessible via any device that can access the web. Now that you either have the DagWallet app or the online web wallet, you not only have somewhere to store your dags, but the possibility to send and receive them too. Just send your dags to your wallet, and you’re all set. - You can save them with Dagcoin Grow! Dagcoin Grow works in a very similar way to a fixed bond. For those unfamiliar with a fixed term bond, you choose the timeframe you want to invest for, and you receive a guaranteed percentage as a return at the end of the period. With Dagcoin Grow you can invest your dags for 12, 24 or 36 months. The length of time you invest for and the amount you invest will dictate how many extra coins you receive at the end of your investment period. To learn more about Dagcoin Grow, click here! - Spend them at one of the 1,500 merchants who accept Dagcoin! There is nothing many of us like more than to spend our money. With Dagcoin’s Merchant Finder site it couldn’t be easier to find the best place to spend your dags. You can search to see which stores and businesses accept Dagcoin in your local area or by category, for example, groceries, clothes or restaurants. If you are looking for something, in particular, you can simply type in the search box the kind of business you are looking for. Depending on the type of business you may be able to order online, visit the business in person, or do either. At all of these businesses, you will be able to pay in seconds with your Dagcoin wallet for Dogecoin Card. To see what kind of businesses are on the Merchant Finder, click here! - Spend or earn dags at the Dagmarket or Dagitally! Dagmarket is a place where people can sell items that they no longer want or need, very similar in many ways to websites like eBay and Gumtree. However, on Dagmarket Jobs, people also can sell their services too. This is the perfect place to find web developers, copywriters, graphic designers, and other freelancers. Dagmarket is somewhere where you can buy and sell anything. But what about if you just want to buy or sell something that’s digital? Say a piece of software, digital artwork, or presentation template? That’s where Dagitally comes in, and it works just the same as Dagmarket! - Call anyone at any time with Dagtelecom! Dagtelecom is an app for Android and iOS smartphones and tablets that allows users to make and receive calls and SMS messages, and pay for these using their dags. Dagtelecom users can call each other free of charge too. - Bet high or low with TwiceDice! TwiceDice is an online casino and betting platform that features hundreds of different games, from casino games, to slots, to esports, you name it, it’s there. TwiceDice utilising a specialised token known as Dagchip, which can be converted from dagcoins via SwipeX. It’s safe to say this is the way to make some serious extra coins for those of you that are bold enough.  All the options above are just the tip of the iceberg of what it is possible to do with your dags. A quick scroll through our blog will show you a whole stream of different options, along with many that are in development and are due for release in the near future, so watch this space! Conclusion Buying dagcoins and getting started couldn’t be easier. All you have to do is create an account with SwipeX and buy your dagcoins. Once you have your dags you will need somewhere to store them. Simply download the DagWallet app to your phone, tablet or computer and you are ready to go.  The question now is what are you going to do with your dags? You could invest them into Dagcoin Grow, and in 12, 24 or 36 months see a fixed return on your investment. You could also go to the merchant finder and search for businesses in your local area or beyond where you would like to spend your dags. In turn, you could also go to the Dagmarket and see what second hand or unwanted items you might want to buy. There are many other things that you can do with your dagcoins that we did not have time to mention here, and many more that are in the final stages of development such as Dagtelecom, Dagcoin Games, and the online content portal Dagitally. Whether you are looking to send money cheaply and quickly around the world, take your business to the next level, or a viable alternative to cash and fiat currencies, the Dagcoin ecosystem is the place for you. Join the growing community utilising the currency of the future, today.

In order to achieve a more accessible currency globally, the cryptocurrency sector needs a serious change of direction. It is right and natural for each country to have its own currency based on crypto technology and transparent solutions. Currencies and money that aren’t nationally issued, can exist alongside cryptos. These can be “people’s money” that is based on community and people’s trust.  These alternative currencies, i.e. cryptocurrencies, however, will not be anonymous Wild West-type payment methods. They have to be transparent, providing assurance to the country that its people cannot use these monies for participating in or supporting criminal activities, avoiding taxes and hiding assets. Individuals’ transactions, as well as governments’ transactions using national cryptocurrency, need to be transparent. In this way, we can move towards a society in which we can talk about having trust in government and monetary policies, as the technology behind cryptocurrency can offer the necessary transparency. Today, even legendary Estonian banking and finance experts have publicly admitted that if sooner or later, an alternative to money will be found and a cryptocurrency with the right goals will be taken into use, then it’s better to be the one to take the bull by the horns. Estonia has the capability to take the initiative as the interest in developing different versions of cryptocurrency in a digital country like Estonia is enormous. What might be the solution? Dagcoin’s community is mainly in developing countries where the need for cryptocurrency is greater. We’ve been guided by the principle of smaller amounts of crypto to larger numbers of people, in order to avoid the accumulation of capital to only a few individuals. To avoid price fluctuations caused by a volatile market, we’ve also created a new way of pricing cryptocurrency. The price is based on fundamental values, which are the number of users and the number of vendors. The more or fewer there are users and vendors, the higher or lower the value of Dagcoin. As a result, the currency will have a more transparent value and users and vendors needn’t worry about the price fluctuating from hour to hour, day to day or week to week.  Unlike Bitcoin and other cryptocurrencies, Dagcoin is not after anonymity. This is best shown by the analytics we’re currently developing, which will, in the future, provide regulatory bodies the opportunity to check that the currency is not being used for unlawful transactions. At the moment, the cryptocurrency world is like traffic without traffic lights and traffic signs. Dagcoin wishes to change this, but still maintain people’s right for making transactions freely and comfortably.  In order to achieve this, Dagcoin is using directed acyclic graph technology (DAG). The operating principle of DAG-chains differs from blockchains, as validating transactions doesn’t require expensive mining, instead each new transaction helps validate previous transactions. Thanks to our technology, Dagcoin is faster, has inexpensive (almost non-existent) transaction fees, and is more environmentally friendly than Bitcoin. Thanks to affordable transaction fees and accessibility, Dagcoin is going to make digital currency and banking available to nearly 2 billion people, who have, so far, not had these opportunities. Dagcoin has the largest number of users in developing countries like India, Indonesia and Columbia. Today, we’re already changing the way in which these countries’ communities trade with the rest of the world and how they sell their products and services. For example, it is now also possible for an Estonian to buy Columbian design services using dagcoins. A Columbian design company can then use those same dagcoins to pay their employees, who can go on to use dagcoins to buy food from the local café or shop. The food vendors can, in turn, buy produce like meat and cheese from local farmers using dagcoins. Farmers can then pay their employees in dagcoins. Building similar payment chains, we’re changing the economic system of the world. It is undeniable that the cryptocurrency market still needs a lot of work to achieve the goal for which the currency was initially created – usability. It is important for people to notice the problem and not see cryptocurrency as just a financial instrument.

More and more often, the opinion is heard that cryptocurrency will start to replace our current fiat money (i.e. legal tender backed by a central government) because all transactions, including international ones, will be faster and more affordable than what the current banking system can enable. It is not possible to “print” more cryptocurrency and people have full control of their transactions.  While people living in Europe, for example, find making bank transfers and instant payments in a matter of seconds over smartphones to be commonplace, there are about 2 billion people in the world who have no access to banking at all, which means they also have no access to digital currencies. They have no credit score to show financial institutions, telecommunications or even insurance companies their creditworthiness. Therefore, if they wanted to apply for a loan to advance their life or business, financial institutions would not be able to provide it. They can buy and sell products or services only on the limited local market for cash, leaving them without access to greater product choices or a larger client base.  The way cryptocurrencies are designed, gives these people access to digital currency, as anyone with access to the internet can create their own cryptocurrency wallet and then make transactions. Access to the internet varies regionally but it is only a matter of time until it spreads everywhere in, for example, Africa. However, as infrastructure and general societal preparedness is simply not quite ready for cryptocurrencies to be taken into daily use, the internet still has time to spread wider. Bitcoin is often thought of as digital gold. While not its primary goal, Bitcoin has set a course for the financial world and future digital currencies. Of course, today, ten years later, there are better and faster solutions and a different financial model available for this. Bitcoin will likely never be this kind of “people’s money” to help those 2 billion we mentioned earlier, but at best, it could become “people’s gold”. There is no cryptocurrency today that is truly and widely usable and proper competition for our everyday currency. Depending on the cryptocurrency, you might be able to purchase products and services here and there, but more often than not, this process goes through a third party, i.e. a platform that converts the cryptocurrency from the client into fiat money, like the Euro, that the provider then receives into their account. This service tends to carry huge fees or use terrible conversion rates. Cryptocurrency should properly be used without a conversion process. The vendor should accept cryptocurrency and use it to pay their supplier. Today, we’re at a point where this is implausible for many, as price volatility has made vendors very cautious. Merchants don’t want to accept money whose price fluctuates day-to-day.