In a surprising move, in exchangeland: Hodl Hodl is the software publicly on Github, so that anyone can peer-to-peer bitcoin exchange, at any time, may be impossible.
That the founders are well-known while in the Baltic Honeybadger event this weekend in Riga is taking place.
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Hodl Hodl and open-source
Hodl Hodl, it is one of the most original bitcoin exchanges, with approx. Over 10,000 customers around the world.
For example, they can only as bitcoin (BTC), which, in their eyes, the bitcoin ecosystem can be trusted.
In addition, they have – due to a number of reasons, not the know-your-customer (KYC)-audit and for that, they didn’t intend to, as they explain in a recent interview with Coindesk.
Compared to Coindesk, says CEO Max Keidun:
History teaches us that, as governments, markets want to close it, it will be done.
When a block or a ban of our website, you can be an activist for the code from Github to use, and the fair will be up and running again to keep.
According to the Keidun, there is particular interest in the code from the emerging and developing countries in Africa, Asia, Latin america and north America, where the need for peer-to-peer exchange of digital cash.
“The KYC process
Why, then, ” the KYC process? Hodl up Hold would not have a personal klantendata to keep it under the pressure of the global anti-witwasverordeningen (AML) is the light and chief technology OFFICER, Roman Snitko to:
We believe that KYC and AML procedures will have more damage to law-abiding users. The end justifies the means, and that is what we are not.
We have seen that the exchanges are regularly hacked, your private data is in the hands of hackers and criminals.
We also believe that these procedures will not be effective for the purpose of money laundering or the financing of terrorism, and to fight against it. People will always find ways of circumventing the law.
The point of view of the trade fair stands in direct contradiction to the laws, rules and regulations in the European union member states. In Dutch law after the adoption of the Second Chamber of the European anti-witwasregels to be implemented.
One of the consequences is that it is a foreign exhibition without an establishment in the Netherlands or in Europe, from the provision of services in the Netherlands, has been ruled out.
In his own words, this protective measure is meant to be”, the integrity of the financial system and to protect it, ” as quoted from the Dutch central Bank (dnb, the words in the letter to parliament of the minister of Hoekstra (CDA).
The international body Financial Action Task Force (FATF) will have a new tracking system to help authorities and other law enforcement-related) agencies, review the transactions on the public network. Against the FATF is also subject to the Dutch cryptocommunity a lot of resistance.
The purpose of these rules. It is easier to share personal details of people who are active in the world of cryptomunten.
Moreover, also in a peer-to-peer file exchange marts, such as LocalBitcoin, Bisq, and Hodl Hodl, are to be bound by these rules and regulations.
Also read – ’15 european countries to develop software for Bitcoin and crypto operations are
Multisig sale of bitcoin (BTC)
The founders of the Hodl Hodl, however, is that they do not comply with these legislative requirements, as they are not bitcoin or in fiat to hold on to their trading platform.
The exhibition offers an escrow service, with the vendor of BTC to lock in a multi-signature smart contract until the purchaser gives its consent to send.
With the release of the bitcoin is it requires two of three signatures of the purchaser and the seller, and Hodl Hodl (which acts as an arbiter when there is a conflict, eds.).
“We have to hit the BAC does not match, users will not be automatic, and no money in our wallets.
We will create a multisigs in the public blockchain,”
Max Keidun, the company’s founder Hodl Hodl
We see that legislators and regulators is becoming more desperate all the time going to be the the circulation of bitcoin is to control it. We have to reject the victim-to-be.
Roman Snitko, chief technology OFFICER
‘In app store to bitcoin’
In his presentation at the Baltic Honeybadger in Riga, the want to Hodl Hodl is also a ‘ smart app for bitcoin is open.
The plan is to have the owners of the websites to make it easier for bitcoin payments to be accepted. Hodl Hodl want to do this soon as well, open-source software that are going to happen.
Impression Of The Hodl Hodl
Interested in how peer-to-peer exchange? See below for a short introductory film.
The new Bitcoin News on: Bitcoin, and the Lightning Network, as well as the measures taken by The Bank
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