With all the hubbub about banks adopting private blockchains for internal use and refusing to even use the word ‘Bitcoin’ has caused quite a stir. With the renewed media attention on legal uses of Bitcoin technology, new blockchain projects (let’s go back to calling them altcoins) are arising and one even has a familiar approach. Atencoin (ATENC) was created with a singular thought in mind; according to its founder, “the purpose was to create a coin that was government friendly.” In its push for adoption, Atencoin is hosting a conference in Bitcoin land
The slow approach to creating a cryptocurrency that is attractive to the old guard and the new revolutionaries is the safe one. The differentiation is subtle but key, ATENC is a public blockchain that is privately regulated, as opposed to a completely private blockchain (otherwise known as a database). Atencoin’s approach to AML/KYC compliance has been seen as unusual by the hardcore cryptocurrency community, which often places extreme value on privacy over compliance. However, Atencoin has faced this adversity head-on and plans to address further concerns in the open at a conference.
Bitcoin conferences, panels, and events have been all the rage for the last few years; however, altcoin specific events have been few and far between. One exception is the grassroots support for Ethereum, a Bitcoin 2.0 project that hasn’t been called “Bitcoin 2.0” in quite some time. Smart contracts are just over the horizon (or Frontier), and Ethereum will have its international conference soon. The conference, Devcore, will feature Nick Szabo as a headliner – the man did invent the term “smart contract,” after all.
Atencoin’s conference and approach may not have garnered as much grassroots support, but that has never been a worry for its creators. Atencoin’s creators rest assured that there is a market of end users that will find Atencoin a natural step into the future – because of its AML/KYC compliance. Banks and government entities have already started embracing Atencoin for its unique approach, which may find an easier time fitting in with the established financial system. Bitcorati was able to get some crucial questions answered by Atencoin’s founder, Markus Andrade.
Bitcorati Interview with Atencoin Founder Markus Andrade
Is there a premine? How much of the premine is in the initial coin sale?
Yes. It has been premined. 24 million ATENC of 26 million ATENC (max. supply) has been premined by NAC.
The price was set according to the responses from the market on purchasing atencoins. We plan to sell 12 million ATENC to public. We have already sold 5 million ATENC. Now the price is 2 USD per atencoin (ATENC).
How did Aten Coin Project choose ANX for the coin sale? Any particular reasons why?
We chose ANX because of four reasons:
1) ANX is one of the top 6 largest Bitcoin exchanges in the world by volume;
2) KYC/AML compliance with verification of legal identities and fiat bank accounts of clients
3) No history of being hacked reflecting reliable security
4) 24 hour global support and the highest liquidity
What other gas or oil investments are over the horizon?
Black Gold Coin, Inc., which is a marketing and promotions company for Aten Coins, will surely be making more investments in Oil & Gas Companies like Tahoe Oil & Gas out of Houston.
Does AtenPay plan to target local Vegas businesses?
AtenPay is targeting global business, including in Las Vegas.
How many people are projected to attend the event?
We are expecting about 100 people to be in attendance. Attendees will be various government officials from different countries, banks, and some from the academic sector.
Have you seen your unique approach to AML/KYC cause banks or companies to be more receptive or more interested in working with you?
Yes. Our technologies have received interest from various companies and bankers.
Images from Atencoin.