NAC Foundation Supports House Resolution 835

Place/Date: Las Vegas, Nevada, US - August 11th, 2016 at 7:29 pm UTC · 3 min read
Source: NAC Foundation

Recently, U.S. House Representative, Adam Kinzinger (R-IL) expressed the sentiments of the House at the 114th Congressional session, which are that the United States should adopt a national policy for technology to promote “alternative non-fiat currencies” and support for blockchain technology.

The resolution specifically highlights “transparency, security and authentication,” as three crucial factors. Through compliance and revolutionary security and design elements, NAC’s Aten Coin, a first-generation compliant digital currency has resolved the aforementioned issues.

Today, NAC announced that they are supporting Resolution 835, because it will serve to further the goals of its organization, “improve financial literacy, increase the options for consumers to manage their finances, engage in commerce online and learn about new methods of payment.” Overall, the support of “alternative non-fiat currencies” and blockchain technologies will “promote economic growth and consumer empowerment worldwide.”

Marcus Andrade, NAC’s CEO discussed the prospects of Resolution 835: “This Resolution will benefit both the consumer and commercial sectors very positively. Currently, there are approximately 25 million underbanked households in the United States.”

He continued: “With the incredible upsurge of mobile device use and access to broadband technology this market needs to be educated and protected by its country. Implementation of legislation to provide tools and learning opportunities, and also to protect users from cyberattack or identity-theft will undoubtedly help usher in this very convenient and lucrative new method of banking and online commerce transactions.”

Important points in Resolution 835 include:

  • Protect the online assets and personal information of consumer through their connected devices via cybersecurity measures
  • Foster future economic growth and create new markets
  • Develop alternative technologies that support transparency, security and authentication
  • Recognize technology experts in the United States who develop consumer-facing technology applications for manufacturing, automobiles, telecom, tourism, healthcare, energy and general commerce.
  • Request for technology innovators to improve the quality of life for future generations by developing safe, new technology that is aimed at improving a consumer’s access to commerce.

NAC’s position on blockchain technology and digital currencies strongly supports that of Resolution 835, which also discusses how block chain technology with the appropriate protections has the potential to “fundamentally change the manner in which trust and security are established in online transactions through various potential applications in sectors. These include financial services, payments, health care, energy, property management, and intellectual property management.”

“Blockchain technology is vitally important to cyber-currency growth and government encouragement through legislation like Resolution 835 will help facilitate its development,” said Marcus Andrade.

“As the founders of the first compliant digital currency, NAC Foundation’s primary mission is to facilitate a positive experience via financial and online commerce. We put safety first into everything we do through a variety of security efforts, that include: anti-theft measures, identity protection, and government and law enforcement cooperation,” he added.

About NAC and the Aten Coin

Headquartered in Las Vegas, Nevada, National Aten Coin (NAC) is the creator of the Aten Coin, a form of virtual and electronic money. The NAC utilizes proprietary cryptography techniques to secure communications and to regulate and manage its currency. The company strictly adheres to an Anti-Money Laundering (AML) control system that meticulously track customer identities and recordkeeping requirements. Additionally, NAC’s Proof-of-Stake v2 method secures all peer-to-peer electronic cash system (digital-currency) transactions by verifying their coin holders’ ownership.

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