As Fraud Cases Reach New Highs Digital Currency DNotes Challenges Legacy Banking System With an Impressive Track Record of Stability and Store of Value
Bitcoin Press Release: As credit card fraud cases reach new highs, the legacy banking system may soon be challenged by Bitcoin Alternative DNotes with an impressive track record of stability and good store of value; two of the most commonly cited reasons that Bitcoin is not a viable threat.
There is an inherent tendency for promising emerging technologies to be deceptive at the formative stage, especially when perceived to be highly disruptive. According to DNotes Co-Founder Alan Yong, a well regarded pioneer and visionary during the early days of mobile computers, this has clearly been the case with Bitcoin, despite often being described as the greatest technology innovation since the Internet. The Bitcoin space has received a staggering investment of almost $500 million from Venture Capital funding in 2014 alone, followed by over $100 million during the first two months of 2015.
No matter how promising, emerging technologies are never perfect, providing room for critics to predict their early demise with sensational headlines. The legacy banking system – being an integral part of an outdated and costly credit and debit card payment network system – has been among those critics. Being the most direct targets of disruption, senior bank and credit card companies’ executives often discount Bitcoin as a threat because of its explosive volatility and poor track record as a store of value. Bitcoin as a medium of exchange has not gained meaningful scale to cause much pain either. In such an environment, the immensely promising Bitcoin with the potential to be the greatest technology revolution of our generation can be quite deceptive; causing many to look back a few years from now wondering how they could have missed the early promising signs.
DNotes can best be characterized, as a second generation Bitcoin alternative digital currency. Created over one year ago, it exploited the advantages of knowing the weaknesses and pitfalls that penalized Bitcoin as the pioneer. It objectively studied Bitcoin’s strengths and weaknesses as well as threats and opportunities. DNotes was created on February 18, 2014 with an objective to meet the full functions of fiat currency as a unit of account, store of value and medium of exchange within three years. It decided to take a very different path since day one in building a trustworthy stable digital currency with reliable long term appreciation.
Central to DNotes long term strategic plan is the creation of highly scalable building blocks, as the foundation of its own ecosystem. Those strategic building blocks include CryptoMoms; a currency neutral site dedicated to encourage women participation, DNotesVault; a free secure storage for DNotes’ stakeholders with 100% deposit guarantee with verifiable funds, and CRISPs; a family of Cryptocurrency Investment Savings Plans for everyone worldwide. The core mission of CRISP is to make the savings opportunity available to everyone; from the unborn to the most senior; from the unbanked to the super rich. The opportunity for anyone to participate irrespective of financial standing, coupled with combined charity efforts will bring about much needed financial freedom for millions worldwide.
Yong explained that:
“winning strategies are most effective when executed flawlessly in the right sequence and at the most opportune time. Until there is a stable digital currency everyone can understand, trust and feel comfortable about, attempts to promote it as a medium of exchange will cost more harm than good. In the case of DNotes, the medium of exchange function will not kick until its third year; at which time many small business owners and their employees are anticipated to be DNotes stakeholders and participants in one of its cryptocurrency savings plans.”
DNotes’ ecosystem is strategically linked and systematically executed towards the ultimate goal of mass consumer and mass merchant adoption of DNotes as a medium of exchange in global commerce. As a digital currency it is equal to and better than fiat currency and as a technology it holds enormous power to cause a quantum shift with world changing implications.
DNotes is a cryptographically created digital currency based on a novel decentralized peer to peer model, where trust is replaced by mathematical algorithms, eliminating the need of an intermediary such as a bank or an automatic clearing house. Assets of value such as Bitcoin, DNotes, and other digital assets can be sent and received in minutes anytime, anywhere, worldwide without the oversight of any central authority. It takes as little as two simple cell phones, or computers with an internet connection to send and receive funds. It does not require, transmit, or store any personal information and the two parties do not need to know or trust each other to successfully complete the transaction at little to no cost.
On the other hand, the legacy banking system, credit and debit card payment network systems are based on an absolute dependency on personal identity with multiple exposures that can be and have been compromised. With multiple intermediaries requiring proof of identity for the release of funds, loans and credit approval based of the “holder” of the required personal information, this has been proven repeatedly to involve high risk exposures.
The legacy credit and debit card payment network systems are costly. In addition digital currency nonreversible transactions offer a significant advantage in protecting businesses and online merchants from credit card fraud chargeback that plague many smaller online businesses dealing in credit card payments.
For more information please visit: DNotescoin.com
To visit DNotesVault please go to: http://dnotesvault.com
To trade Bitcoin with DNotes please go to: https://poloniex.com/exchange#btc_note
Media contact:
Name: Alan Yong
Email: [email protected]
