ANXPRO, the cryptocurrency trading platform provided by ANX, has announced that it will soon be supporting “Black Gold” Coin (a.k.a. Aten Coin), launched by a company called National Aten Coin.
Previously unheard of in the cryptocurrency space, the coin seeks to accomplish the exact opposite of the stated goals of many cryptocurrencies: track customer ID’s, eliminate anonymity and record all transactions in a database for government officials. It seeks to do away with what it says are negative perceptions of Bitcoin and its ilk, which are often used to carry out illegal transactions. Founder Marcus Andrade says that its use as a proprietary anti-money laundering control system will make it a success. He elaborated:
“Banks are taking interest in the Aten “Black Gold” Coin, because of how we are approaching our currency’s security. We are not in the business of anonymity. We are confident that this coin will be successful, because it will gain a high level of trust throughout the global financial and online communities.”
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At first glance, it would seem odd why ANX would support such a seemingly obscure coin. Out of the hundreds of cryptocurrencies in existence, ANX only supports five, all of which rank within the top ten in valuation: Bitcoin, Litecoin, Dogecoin, Ripple and Stellar. These are tradeable with ten different fiat currencies.
ANX CEO, Ken Lo, sees it differently however. His experience in compliance, risk and regulation has made him appreciate the values of such a coin. “We feel that the NAC’s dedication to AML regulatory practices is similar to our values at ANX. This new crypto-currency simplifies the management of customer identities and our record-keeping requirements,” he explained.
Official specs have not yet been released for the coin, other than that a total of 25 million will be in existence.
Update Jan 28 08:44 GMT: Updated specs list 26 million total coins and an X11 hashing algorithm, the same used by Darkcoin.