by Dane Keller Rutledge, Esq.
This is Part 3 of the three-part series of articles in which I address the pathways offered by the Volentix Digital Assets Ecosystem (DAE) to qualified purchasers wishing to buy VTX, Volentix’s native digital currency. [links] In the first two instalments, I remarked in detail Blocktopus and Zixipay as two methods facilitating such purchases.
Zixipay is notable because it is an on-ramp for buying VTX with popular fiat currencies: USD and the Euro. Zixipay also accepts Bitcoin and Ethereum. The Zixipay KYC/AML/CFT policy is rooted in prevailing Financial Action Task Force (FATF) recommendations and methodologies to prevent use of Zixipay for illegal activities.
Blocktopus is an ISO 9001 and ISO 27001 KYC/AML qualification filter for vetting potential purchasers of VTX who wish to purchase Volentix’s native digital currency directly from Volentix via its custom-built EOS-based Ledger software.
The importance of Volentix offering two independent gateways cannot be overstated. Redundant systems are essential for reliable, continuous operation of a Digital Assets Ecosystem.
Zixipay and Blocktopus are also noteworthy because they relieve Volentix of otherwise having to handle the private identity information any potential purchaser must provide to either Zixipay or Blocktopus in order to qualify to buy VTX.
Furthermore, Zixipay and Blocktopus have important differences from each other. If a qualified purchaser wishes to liquidate USD or Euros to buy VTX, then Zixipay can accommodate the transaction. If, however, a temporary breakdown occurs in the Zixipay system, or if a potential buyer of VTX prefers not to create a Zixipay wallet or to give personal identity information to a PayPal-like payment service such as Zixipay, and instead wishes to purchase VTX directly on-chain, then Blocktopus is available to clear purchasers to buy VTX directly from Volentix in exchange for the digital currencies Bitcoin and Ethereum.
Volentix requires its community members to use VTX to be able to use Volentix’s utility features, including the downloadable digital wallet VERTO, the market data analysis engine VESPUCCI, and the decentralised exchange VDEX.
Dane Keller Rutledge, Esq., is an attorney, a scientist, and the creator of the Digital Assets Ecosystem Base Code (DAEBC)
CAUTION/DISCLAIMER: Please do not take any of what is written in this article as legal advice (or, for that matter, as advice of any kind). One should always seek advice of one’s own legal counsel and/or other relevant professionals.
Dane Keller Rutledge
All rights reserved
Thanks for your explanation. Now I know how to buy VTX.
Wow! Blocktopus is ISO 9001 and 27001 certified? That's a huge and ridiculously difficult feat. I had to work on getting my last company I worked for certified. I'll have to look into them. That's a company that takes security, processes and standards seriously.
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You sound like a bot.
Huh? Weird statement, but okay.
I will do my findings about VTX and see how much I can invest on it. ,I have invested bulk of my capital on btc and veil privacy coin, waiting for their rally to begin
VTX is a good one, I will consider that. Am also considering other coins like Veil and Harmony.
Thanks for the post.
thanks for explanation @volentix ...i will follow you from now. Anyway what's @stemium?
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I think we are having a view of how assets can be values like properties in the cloud. Crypto has gone beyond expectation and it will certainly change economies of countries in time to come. This is really nice
I did not vote for your article because I found the article quite hard to understand. Also, as a side note, it looks like there's not a single response to your post that isn't a bot. I'm amazed that this article has earned $339.00.
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I don't understand how to contend this ,
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Is there an application ...?
It works well. Thanks guys!
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This is a very nice article and am encouraged now to go for VTX. I also looked at a similar project Veil, these will be my targets for now.
Nice post @volentix
Nice explanation but I will be waiting for it on an exchange to buy but for now I'm all in on veil network
Thanks a lot for the explanation..!!
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Stellar is also a payment technology that aims to connect financial institutions and drastically reduce the cost and time required for cross-border transfers. In fact, both payment networks used the same protocol initially.
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