Confidence coin is a safe cryptocurrency. It is built to allow governments to protect it from crime and illegal activities.
It uses a blockchain to achieve consensus on transaction validity. And it adds another wall to protect users from crime and increase trust.
It is based on a revolutionary, pending patent idea of “A system for transferring cryptocurrency between a plurality of wallets, without revealing an origin or a destination or encrypted, origin or a destination”
In Confidence Coin, users make all their transactions using a DTP, a Decentralized Trusted Party. DTP is a legal company that uses government protection to shield users from crime and illegal activities in the crypto world.
DTP is not “a company” but rather an idea. An idea baked deeply into the Confidence Coin blockchain. Everyone can create a DTP, but this great power comes with great responsibilities, making it suitable primarily for companies.
Each user in Confidence Coin has one or multiple wallets. But as mentioned earlier, they can’t access their coins by themself, so they need a DTP. Users use the blockchain to select a DTP that will control their wallet. The DTP doesn’t have access to users’ private keys, and the users can revoke this control.
Because it is cheaper!
Credit cards take a fee for each transaction, but in Confidence Coin, there is only one fee for the update transactions. It is cheaper than credit cards by order of magnitude.
It is economically beneficial for companies to charge users using DTP instead of a credit card.