Since the introduction of Bitcoin in 2009, the cryptocurrency business has seen tremendous expansion and advancement. There were very few exchanges where consumers could purchase and sell Bitcoin in the industry’s early days. However, the number of exchanges has rapidly expanded due to the proliferation of cryptocurrencies and the growth of Initial Coin Offerings (ICOs).
Because it aids in the prevention of money laundering and other illicit actions, Know Your Customer (KYC) checks are an essential requirement for all financial institutions. The fact that Uniglo (GLO), a new ICO project, has complied with all of its KYC standards demonstrates that it is a reliable and respectable business with the power to challenge Waves (WAVES) and MakerDAO (MKR).
Importance Of KYC For Uniglo (GLO)
Uniglo (GLO) is a fully asset-backed social currency that plans to launch in October to combat market volatility. Uniglo has already wowed investors with its innovative double-layer burning processes, which are meant to continuously restrict the supply and artificially encourage the price’s growth.
Uniglo builds a one-of-a-kind Vault to hold its tangible assets, which is intended to increase through time and provide more profit for the community. With the proceeds from Vault, DAO will determine the burning rates, or the acquisition of assets.
By employing created revenues within the Glo Vault, Uniglo intends to develop a currency whose inherent value is not determined by an algorithmic peg, but rather by the assets within the vault.
While these innovative features impress investors, it is still questionable if they can trust an ICO with no security history. Thus, Uniglo’s security certificate has played a significant role in growing the project’s popularity and adoption.
Coinsult, a top security & audit company, has finished the initial portion of Uniglo’s Know Your Customer (KYC) security measures, boosting investor trust and causing the price to soar by 25 percent overnight.
Customers of Uniglo may now rest assured that they are conducting business with a reliable organization, which is fantastic news for those clients. Uniglo’s commitment to providing a safe and secure environment for its customers, one of the company’s fundamental values, is magnificently exemplified by its most recent innovation.
Waves is a flexible blockchain platform that enables a variety of use cases, including smart contracts and decentralized applications (DApps). Following one of the first initial coin offers (ICO) in the cryptocurrency sector, Waves was introduced in June 2016 to enhance the early blockchain systems’ speed, functionality, and usability. The platform has undergone several adjustments to improve its initial concept and included fresh spin-off features.
The native currency of Waves is WAVES, a coin with an unlimited quantity used for regular payments like block rewards.
The Maker (MKR) governance token enables people to create and control the DAI stablecoin. MakerDAO and Maker Protocol are both decentralized organizations built on the Ethereum network. Maker is a project aiming to run DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar.
The Maker ecosystem is one of the early initiatives in the decentralized finance (DeFi) landscape, which aims to create decentralized financial products on top of blockchains using smart contracts like Ethereum.
Waves (WAVES) and MakerDAO (MRK) offer top-notch security services. Still, in terms of providing something unique, exciting, and essential for the crypto world, along with security, newcomer Uniglo (GLO) could stay on top of the list.
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