WebWallet is the digital wallet system for DasCoin, the Currency of Trust. It enables not only transactions within the DasCoin ecosystem, but also numerous other payment functions. The platform also establishes DasCoin as a true currency by enabling its users to make purchases at over 60 million merchants.
The introduction of WebWallet was a strategic integration step in the DasNet ecosystem which preceded the initial minting of DasCoin itself. WebWallet acts as an exchange platform, while also providing the advantages of security in a world where compliance is an increasingly important factor. WebWallet authenticates all users via digital encryption by ensuring they enter their personal credentials before accessing their funds.
The strategic planners of WebWallet have numerous more features on their agenda. It will act as the enabler for a cutting edge and innovative payment platform, DasPay, which aims to allow payments at more than 60 million outlets all over the world. This well-conceived practical application puts DasCoin well ahead of other cryptocurrencies such as Bitcoin. Furthermore, the integration of smart contracts and unique credit possibilities to increase assets is in development. Information about the DasCoin launch on external markets will be announced at a major company event in London on April 27, 2018 and the future of WebWallet is sure to be discussed.
“The transforming potential of blockchain and related technologies is almost limitless and can range from land register entries to global payments,” summarises George Sarcevich, Director of WebWallet. Sarcevich is a graduate of Princeton University and has more than 10 years’ experience as an investment broker for Goldman Sachs, Bear Stearns and HSBC on Wall Street. He also works as an advisor to the Finance Ministries of Serbia and Montenegro. His wealth of experience will aid the further development of WebWallet.
The Validator: For secure transactions with WebWallet and DasCoin
DasCoin seeks to raise the security standards of digital payment methods to a new level. Its solutions include not only a decentralized network of peer-to-peer vaults, but also a hardware-supported technology which is called the validator. This USB-connected device, which plugs neatly into a laptop or personal computer, is a digital hardware device that provides an important security layer for DasCoin’s users. Cryptocurrencies are in a sector in which other players have seen their customers fall victim to hackers and other unauthorised access.
Combination of security and comfort
The Validator ensures the easy management of the private keys that allow access to digital currencies. Private keys are never revealed, since sensitive processes remain isolated within their hardware wallet in an area secured with a PIN code. Transactions therefore cannot be manipulated. Nevertheless, security and usability must go hand-in-hand. Transfers can be made with just one click of a button, an OLED display shows all of the important information at a glance. Each user is obliged to use the hardware device for transactions in order to guarantee the security of all users on the platform. The Validator offers multi-currency support, and therefore can be used not only for DasCoin, but also in connection with Bitcoin, Bitcoin Cash, Ethereum or Ripple. The Validator sits within the Das ecosystem as an integral part of WebWallet, the digital wallet for DasCoin.
Identity check and authorised transactions
WebWallet Director George Sarcevich explains how important legality and security are: “At WebWallet we place great value on correct authentication. It is a process that is increasingly becoming an integral part of our online activities, and is a business in itself. Our users must undergo identity checks, which also necessitate the uploading of a copy of their ID.” These checks and other Know Your Customers measures make DasCoin a pioneer, since Bitcoin and countless other cryptocurrencies have either purposely neglected to implement bank-standard security measures or were created with the sole purpose of evading this types of regulation. With the cryptocurrency sector now coming under increasing scrutiny from regulators, the Validator and WebWallet are important tools for DasCoin to have within its portfolio.”