Posted by OneCrypto
in Default Category
on November 20 at 02:36 PM · Public
WHITEPAPER ONECOIN LTD
Specifics of the ONE centralized System
The Centralized blockchain offers much more Customization and control to the Company or the Organization deploying it over the Network.
The Company is able to sanction IMA-s who violate T&C according the Internal sanction Policy.
The Company can search and monitor IMA-s` behaviour according to regulations (PEP and Sanction lists).
The Company can apply AML/CFT and reporting procedures when necessary (if reasonable grounds are present to consider an Identity or Financial fraud have been committed).
The Company is enabled to decide independently who can participate and have access to the network. (Onboarding policy, Sanction policy).
Тhe Company can apply all KYC and KYCC regulations and in that sense is closer to Financial Institutions and Government. In many locations, cryptocurrencies are not regulated and this enables the applicable CDD process to Bank the unbanked People.
The Centralized blockchain is more environmentally friendly since they do not need so many resources to implement and to secure the entire Network. The bigger the Public blockchain is (Bitcoin, for instance), the more miners are needed. This is not an environmentally friendly blockchain since just one simple Bitcoin transaction has a very high cost.
Organizations and Companies can Store and protect their most valuable Data with the help of a centralized blockchain.
KYC & AML Compliant
To prevent Individuals from engaging in criminal and unwanted behavior, OneCoin monitors its Clients and implements Rules aligned with the Legal Development. For example, to prevent Money Laundering, IDentity theft, financial fraud and terrorist financing, OneCoin has implemented KYC (know-your-customer) rules, thus disrupting any possible misconduct by its Users.
The KYC information requested includes Name, Residential address and date of Birth/Country, as provided to OneCoin upon account Registration.
*PassPort/ID/Gov. Issued Drivers Licens
*Residence of domicile
*Bank Utility Bill
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