About AMLT by Coinfirm
AMLT by Coinfirm created by the recognized Blockchain Regtech leader Coinfirm, AMLT is the first dedicated token that will ensure transparency and democratization of the financial system by allowing market participants to help determine the potential risk of others.
|Token Name||AMLT by Coinfirm|
|Token Price||0.39 USD|
|Total raised||19,042,042 USD|
|Token supply||400,000,000 AMLT|
|Whitepaper||Click Here For View Whitepaper|
|Website||Click Here For Visit ICO Homepage|
As studies 7 and industry leaders 8 shown, effectively addressing Regulatory Compliance and especially Anti Money Laundering and Counter Terrorist Financing (AML/CTF) for blockchain and virtual currencies has been a massive roadblock and the missing link to the traditional commercial and financial sector and their overall mass adoption. Countering Money Laundering and Terrorist Financing is not only a legal obligation but also a moral one. Without prevention and control mechanisms on transactions money flows.
The market of virtual currencies has grown tremendously in recent years, not only in terms of value but also in terms of services offered and entities involved. Banks and financial institutions are not able to properly provide services to these businesses because they are not able to determine and manage the risk related to companies operating in this space. As banks do not have efficient and effective tools and processes to determine this risk they also can’t provide banking services to clients that are accepting virtual currencies.
The cost of the compliance for virtual currency businesses can increase over 50% of its total time and labor costs when taking systems, reports, training, manual processes etc. into consideration. Costs of ‘non-compliance’ are even higher 13. Not only does it limit the ability to be commercially adoptable across the wider market but may also result in the closing of the business, paying fines or even potential legal ramifications for the business owners. Recent show that non-compliant businesses can be shut down regardless.
A solution is needed for virtual currency businesses and traditional businesses that accept virtual currencies or simply want to have exposure to it. At the end of the day, any entity touching virtual currencies or operating with them needs to apply AML/CTF compliance rules to protect themselves, their partners and their clients from potential risks and to allow for its commercial growth. Any firm that has a commercial relationship with virtual currency companies also need to understand such risk.
Vision and mission
Coinfirm provides a network that builds a transparent, democratic, effective and compliant virtual currency and blockchain ecosystem. Coinfirm’s goal is to deliver a streamlined and effective Global Standard for AML/CTF compliance in a decentralized and democratic way where participants can provide AML/CTF/Fraud/business/risk ratings whether negative or positive. Not only providing transparency and democratization of the financial system in an unprecedented way, AMLT attached to the Coinfirm AML/CTF Platform serves as a bridge.
Size of money
It is said that the money laundering market is between 800 billion to 2 trillion USD annually and is around 3-5% of Global Domestic Product (GDP). This is capital that does not reach taxpayer and government services, homes, infrastructure and businesses, but is destined to reach drug traders, terrorist organizations, human traffickers and other nefarious enterprises building their empires. UK Government – UK national risk assessment of money laundering and terrorist financing.
Easy to use data access point
The effective AML/CTF system for blockchain applications must able to provide structured, actionable data on blockchain, virtual currency transactions and transaction counterparties, with associated money laundering risk, fraud, noncompliance and financial performance. It must be an easy to integrate solution both public and private blockchains, that turns compliance into an automated, efficient and reliable process. This enormous added value of an AML compliant blockchain solution must be easily deployable.
Maciej Ziólkowski CO-FOUNDER
Grant Blaisdell CMO & CO-FOUNDER
Paweł Kuskowski CEO & FOUNDER
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