Dexacoin User KYC Identification Process

Musku rane
Aug 14 · 4 min read

The presence of Dexacoin as one of the creyptocurrency platforms that offers cross-border financial transaction services, is certainly a breath of fresh air or good news for international trade players. Did you know that at this time a lot of traders have already entered the currency cryptocurrency as one of the currencies used for payment transactions. At present the use of cryptocurrency that is controlled by Blockchain technology has not been widely used by people living in developing countries. However, the use of technology is very familiar to be used by a number of people living in developed areas.

Therefore it’s only natural when you go to the islands located in the province of Bali, where there are already several shopping places or restaurants that accept payments in cryptocurrency, such as Bitcoin which not only can be used for investment purposes but can also be used to make payment transactions. At least the steps of a number of shopping places and restaurants have indirectly accelerated the adoption of Blockchain technology into the lives of local people everyday. Therefore, the integration of Dexacoin as a payment transaction tool is very important, because it not only provides Bitcoin, but also several other currencies, both the official currency of the country and other cryptocurrency currencies.

The Dexacoin function that provides convenience for cross-border payments has certainly brought convenience to a number of trading companies or industries that are currently just starting or developing. The speed of technological and economic flows proves that there is not much time spent on administrative purposes. This requirement is usually only required at the initial registration process, but will not be asked or asked again when we have reached the process of utilizing the technology. Same is the case with Dexacoin which only registers via a smartphone without having to meet with the admin directly.

There are many ways that a scientist can do to get all the work done quickly. One of them is by combining a number of components of sophisticated technology, such as Blockchain technology and banking. Did you know all Blockchain tech platforms have a very strict KYC (Know Your Customer) system. Where this system is a checking step carried out by certain financial institutions to view the life history of potential users, both for crime and transactions. Take for example the security system owned by banks, which at present all banks are connected by the KYC system. Therefore when there is a user 1 who comes to Bank A to apply for a loan and after that do the process of inputting KTP data (Identity Card). Then the KYC system will show all the financial activities of users and also all forms of crime committed. User 1’s financial activity shows that at this time he has not paid off at Bank B and he will not automatically get a loan from Bank A. Other cases but occur in the same place, if user 1 does not have any debt at the bank or any lending institution . But he was once involved in terrorist crimes, so the bank with all its policies can decide whether such crimes can be tolerated or not. Because it would be useless, if to get one customer but risked the safety of other customers and also the good name of the bank.

Now did you know that at the beginning of its adoption, Blockchain technology has also used the KYC system to maintain the safety and comfort of its users. Because he was aware that in the future this technology would be very much used in the financial sector. Therefore it is only natural that a number of platforms also work together to build a strong fortress. Just like dexacoin which also automatically enforces this security system.

In the world each person has been awarded a variety of skills used to produce and increase profitability. But now there are some people who cannot channel their expertise in the right place. For example, currently a number of hackers are employed by technology companies to detect all forms of threats and attacks that will attack various important technological components contained in the company. Therefore with the level of sensitivity of the potential Hackers — the potential for attack, then this bad thing can be prevented as soon as possible. Another case if the hacker uses his expertise to destroy certain technological defense systems. Then we can say that he channeled expertise to the wrong place. This phenomenon is also the same as the Dexacoin expert team channeling their expertise to create a cross-country cryptocurrency financial transaction platform, which can be enjoyed in just one hand and the tap of a finger.

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