Marcus Andrade, chief operating officer of NAC Foundation, LLC, creator of the innovative new digital currency AML BitCoin, met with Adam Afriyie, Member of the Parliament of the United Kingdom, in London to discuss how AML BitCoin can solve the concerns impeding the widespread introduction of digital currencies in the UK.
MP Afriyie, chair of the House of Commons All Party Parliamentary Group on Fintech, is the leader in the Parliament on issues related to cryptocurrency, and is renowned as the first MP to discuss blockchain technology on the floor of the House of Commons. Blockchain is the technology that underpins the world of digital currency, and is a publicly distributed ledge of transaction empowering the next wave of tech innovation throughout the world.
“I believe the AML/KYC compliance linked to the AML BitCoin through our patent-pending cutting- edge technology greatly impressed Chairman Afriyie,” said Andrade. “We discussed rapidly moving forward on a series of briefings for important stakeholders, and our providing his offices with materials geared to assist in the spread of information related to blockchain and digital currencies.”
A number of nations throughout the world have recently moved against anonymous digital currency, such as Bitcoin, for fear that their anonymity promotes entry by criminal and terrorist elements into otherwise protected financial systems.
In the United States, Members of Congress are considering legislation barring the use by U.S. merchants of anonymous, non-AML compliant cryptocurrencies. It is anticipated that the United Kingdom may move in a similar direction, making the arrival of AML BitCoin – the world’s only digital currency with patent-pending biometric digital identification built into its architecture – a potential solution to these internationally shared concerns.
Andrade hopes that Chairman Afriyie will soon convene a roundtable for the All Party Parliamentary Group on Fintec, including MPs, members of the House of Lords and other key stakeholders, at which AML BitCoin will have an opportunity to further present the key elements of their groundbreaking technology.
In addition to his successful meeting with Afriyie, Andrade also met with key leaders at the London Stock Exchange. The LSE has an international reputation as a vanguard institution, leading in financial innovation. Andrade met with Dr. Robert Barnes, Global Head of Primary Markets and Antonella Amadei, Head of Global Development Market Infrastructures to discuss the astonishing growth of cryptocurrencies, in light of the challenges they pose to established financial institutions – including the concerns shared by most finance leaders that digital currencies are unstable and could introduce undesirable elements into finely tuned financial systems.
Andrade provided the LSE representatives with an explanation how AML BitCoin was a unique digital currency and could actually provide the solution to both the instability and insecurities generated by the world of anonymous digital currency. The LSE will continue to study cryptocurrency and explore how it might be possible to work with AML BitCoin to solve some of the concerns they share.