AMLT - The Token of Compliance by Confirm

AMLT nad Blockchain Ecosystem

Challenge

As studies nad indistry leader have shown, effectively addressing Regulatory Compliance and especially Anti Money Laundering and Counter Terrorist Financing (AML/CTF) for blockchain and virtual currencies has been a masive roadblock and the missing link to the traditional commercial and financial sector and their overall mass adoption.

Countering Money Laundering nad Terrorist Financing is not only a legal obligation but also a moral one. Without preventation and control mechanisms on transaction money flows directly to ilegal business, drug dealers, human trafickers, terrorist or weapon traders and puts the entire market and its participants at risk. Hence the companies delaing with exchange of value via blockchain should ensure that they are not either knowingly exposed to, party to or facilitating such igh risk transfer or counterparties. The lack of such basic risk management may pose a breach of rules for the companies involved.

Blockchain is peer-to-peer system and with all of hits benefits it also brings some risk such as counterparty risk is currently mainly mitigated via intermediaries in the traditional economy such as banks or payment transmitters.

Environment

The market of virtual currencies has grown tremendously in recent years, not only in terms of value but also in terms of service offered and entities involved. Banks and financial institution are not able to properly provide service to these business 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 process to determine this risk they also can not provide banking service to client that are acceppting virtual currencies. For example, Japan has over 300,000 business accepting cryptocurrencies. You can also officially pay some government fees in Switzerland, catch a cab in Amsterdam or shop with major retailers like Overstock.com using bitcoin, just to nam a few case. Even leading payment processors all over the world like Adyen are accepting virtual currencies. Yet, the inability the properly determine the risk blocks the ability for traditional commercial players from being able to safely accept, adopt and benefit form virtual currencies and blockchain.

There are new entrants on the market taht are interested in virtual currencies and bearing similiar risk without proper tools:

Virtual currency exchanges and payment processors
Hedge funds
Large companies that want to improve cash management
International transfer entities (financial institution)
Internal Blockchain/Virtual Currencies for large groups.

Vision and Mission of Coinfirm

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 rating whether negative or positive. Not only providing transparency and democrization of the financial system in an unprecedented way, AMLT attached to the Coinfirm AML/CTF Platfor serves as a bridge to accommodating new business models and adopting blockchain and virtual currencies.

Tokens Distribution during Crowd Sale

Tokens available to public at launch : 210,000,000
Data rewards pool for Network Member: 120,000,000 (distributd monthly by the smart contract
Consultant/Advisors: 2%
Ambassador/Refferals: 1%
Founding Team: 10% (with lockup period)
Dev team and bonuses: 4% (with lockup period)
Foundation/Charity: 0,5%
Total AMLT Tokens generated in smart contract: 400,000,000

Token Crowd Sale

A participant who wants tp purchase AMLT during the Token Crowd Sale needs to pass through the onboarding procedure after transferring ETH to the AMLT Crowd Sale Address. The participants needs provide for the compliance evaluation Participant's Profile and Identity Data and Particpants Ethereum address from which the payments for AMLT is supposed to be made.

In case the Participants does not provide all data required by onboarding process until AMLT crowd sale timeout, providing this data would still be possible within 2 weeks after the crowd sale, the documents will be verified within a maximum 4 weeks after the Crowd Sale.

Only if the Participants provides all of the data required by the onboarding process o time and the Participants compliance evaluation results are within the acceptable risk limit, the AMLT will be paid out to Particpants Ethereum addreess. Otherwise ETH paid in will be returned. AMLT tokens will be released to participants up to 4 4 weeks after the AMLT crwod sale.

In case the compliance evaluation will result in a high risk score, the Partcipants Ethereum address may be flagged as such on the Coinfim AML/CTF Platform.

Purchase of AMLT during Token Crowd Sale