<hr>Hey friends. While the festivities of Chinese New Year looms invitingly in the near future (just a couple of days, to be exact), let us take this week’s biweekly update post as an opportunity to do something a bit different. There’s still the list of constant improvements and bug fixes near the end of this post, but before that, let’s talk just a little bit about our initial goals for the first few months of 2023.<h4>Extending wallet app functionality</h4>Last week, we very briefly covered how we integrated our own KryptoGO Compliance due diligence/identity verification system to our wallet to perform user verification. Verified users are able to place a purchase order for cryptocurrency using just their credit card, and purchased tokens are sent straight to the user’s non-custodial KryptoGO Wallet, where the user and only the user controls his or her assets.We’ve been brainstorming, experimenting, and testing several new features to come. Most of them are still too early for details to be revealed, but expect some new features regarding user profile, connectivity, and perhaps even GameFi coming in 2023.<h4>Extending wallet features to web&nbsp;browsers</h4>We’ll be extending our wallet features, quite literally, with a Chrome extension that allows users to do all sorts of wallet-y things.&nbsp;<ul><li>Connect to a DApp via browser? Wallet-y, check.</li><li>See your on-chain portfolio, including tokens and NFTs, from your browser extension? Wallet-y, check.&nbsp;</li><li>Send, receive, or swap tokens to your heart’s content? Very wallet-y, check.</li></ul>And much more, coming soon to an extension near you. We’ll post more about it once we finalize testing and fine tune some details.<h4>Helping onboard businesses to Web 3.0, with KryptoGO’s propriety wallet&nbsp;model</h4>Last September, Blockchain Game Guild YGG Japan announced an exclusive partnership with none other than yours truly. YGG Japan’s mission is to spread blockchain games and the new era of gaming culture, and KryptoGO’s role in this partnership focuses on optimizing the experience of managing on-chain game assets. Our existing propriety wallet and account model greatly reduces the barrier to entry, abstracting away more complicated blockchain concepts such as multiple seed phrases and multiple chains. We’re experimenting with some new software architecture as we build out this partnership wallet from scratch, and hopefully simultaneously simplify and clean up our existing codebase for easier maintenance and faster future development. Long term, KryptoGO aims to help even more businesses onboard to Web 3.0 using our increasingly extensive and powerful suite of tools and services.<h4>And yes, here is the list of bugfixes and improvements, as&nbsp;promised</h4><ul><li>Fixed a bug where the filter for tokens in the Send screen would filter out some tokens by mistake.</li><li>Fixed a bug where contacts would take longer-than-acceptable to load.</li><li>Fixed a bug where the wrong number of user wallets was shown.</li><li>Fixed a bug where Android phones could not take photos needed for identity verification.</li><li>Tron gas fees can now be manually adjusted.</li><li>Links that automatically open a certain DApp using the DApp browser in KryptoGO Wallet can now be generated.</li></ul><hr>We strive to constantly improve and enhance your experience with our wallet. Have feedback or encountered any issues? Don’t hesitate to contact us via Discord, or via any of our other social media links listed below.And that’s it for this week. Happy Chinese New Year!<h3>Follow us:</h3><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>&nbsp;

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This week, let us talk just a little bit about our initial goals for the first few months of 2023.

Biweekly Dev Update: January 18th, 2023

<h1 style="margin-left:0cm;">Regulation of the Cryptocurrency Market in the U.S. Being Increasingly Strict&nbsp;</h1>&nbsp;Coinbase, one of the largest cryptocurrency exchanges in the United States by volume, has agreed to pay $100 million as a condition of a settlement with New York regulators. The New York regulators accused the company of violating anti-money laundering laws by allowing users to open accounts without adequate background checks –– the latest example of the stricter scrutiny facing the emerging cryptocurrency industry.&nbsp;<h1 style="margin-left:0cm;">The main cause of the incident</h1>Coinbase's business was growing too quickly, resulting in a lack of compliance capacity and therefore a lack of proper KYC and AML process, which led to some of the crimes that resulted in a $100 million fine and a deadline for improvement. Coinbase has committed to invest more resources in the establishment of Compliance to ensure the stability and security of virtual currency transactions.<h1 style="margin-left:0cm;">Taiwan government has a precedent, VASP operators need to be cautious</h1>&nbsp;Looking back at the regulation in Taiwan, most of it is based on U.S. standards as a precedent. In addition, with the strict policies of the FSC in Taiwan, there is a need for complete and compliant vendors and systems in Taiwan to help VASPs build a regulatory compliant environment to avoid becoming a hotbed of crime.&nbsp;However, AML has thorough rules and standards and relies on money laundering prevention expertise that should not be taken lightly. There are three particular points to note.First, the status of each customer can change at any time and needs to be monitored regularly and addressed in a timely manner when an incident occurs.Secondly, you need to make sure that you do a customer review and keep records to avoid surprise checks that are not available.Thirdly, we cannot rely on simple KYC, but we also need to use information such as face and ID recognition, international sanction lists, and international negative news in order to have a comprehensive understanding of customer identity and information.&nbsp;KryptoGO has partnered with Dow Jones and Jumio in the U.S. to build a complete database of international lists. Moreover, we also build eKYC with ID and face recognition to help strengthen KYC barriers.In addition to VASP, we are also working with a more regulated bank that has experienced a similar crisis and has been able to improve efficiency and reduce costs with the KryptoGO Compliance system. All we have to do is to work together for compliance and regulation so that the Crypto world can be more positive and develop good applications.&nbsp;Contact：cookielo@kryptogo.com

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After FTX incident, governments put more efforts on increasing financial management, U.S. regulation are coming.

<h1>美國對加密貨幣市場的監管日漸嚴格</h1>Coinbase 是美國交易量最大的加密貨幣交易所之一，已同意支付 1 億美元，作為與紐約監管機構達成和解的條件之一。紐約監管機構指控該公司允許用戶在沒有足夠背景調查的情況下開立帳戶，違反了反洗錢法——此為標誌著新興的加密貨幣行業面臨更嚴格審查的最新實例。<h1>造成這件事的主因</h1>是因為 Coinbase 業務成長太快速，導致合規量能不足，所以沒有做好完善 KYC 及 AML，導致有些犯罪發生，美國政府重判一億美金並限期改善。 Coinbase 承諾將投入更多資源在 Compliace 的建置中，以確保虛擬貨幣交易的穩定及安全性。<h1>台灣政府有判例依循，VASP業者需謹慎注意</h1>回顧台灣的監管大部分都會依據美國的準則作為一個判例，加上國內金管會政策把關得相當嚴格，在台灣更需要完整且合規的廠商及系統幫助 VASP 能夠建構符合法規的環境，避免成為犯罪溫床。&nbsp;<h2>但 AML 有成熟的規章與標準，需依賴洗錢防制的專業，不能輕忽怠慢。</h2>三個特別要注意的部分：<ol style="list-style-type:decimal;"><li>每個客戶狀態有可能隨時改變，需要能夠定期監控並且在事件觸發時能及時處理。</li><li>需要確實做客戶審查且保存紀錄，以免突擊檢查無法提供。</li><li>不可只依賴簡單的 KYC ，還需搭配人臉及證件辨識、國際制裁名單、國際負面新聞等資料，才能全方位的了解客戶身份及資訊。</li></ol>KryptoGO 與美國道瓊斯、Jumio 合作，有完整國際名單資料庫，建構 eKYC 的證件及人臉辨識輔助強化 KYC 關卡，另有負面新聞審查補足資料不即時的潛在問題。除 VASP 之外，也有監管更嚴格的銀行是我們的合作客戶，該銀行也曾經遇到類似的危機，但在使用 KryptoGO Compliance 系統後，成功提升效率及降低成本。我們所要做的，就是一起為了合規及監管做努力，讓 Crypto 的世界可以更正向、發展出好的應用。

FTX 之後各國政府加大力道 ， Coinbase首先中槍

號稱最合規的交易所 Coinbase 被政府罰裁罰一億美金，並限期修正

Coinbase, the most compliant exchange, has been fined $100 million by the government and given a deadline to fix it.

Hey friends! How’s 2023 treating y’all so far?Jump starting the new year, we’re announcing limited early access of some cool new features to select users. We’ve briefly touched upon our plan to integrate KryptoGO Compliance within KryptoGO Wallet in an update back in November. Following identity verification, successfully verified users can now purchase cryptocurrency, in-app, with just their credit card.&nbsp;Identity VerificationUnverified users can head to Account &gt; Verification and submit the required documents to get their identities verified. Once verified, users can purchase cryptocurrency directly within KryptoGO Wallet.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*adwc03kxRK3_cSy57JFW3w.png" alt="" loading="eager">Account &gt; Verification (unverified)<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*rCWA1Y2sNuZ0G2iLLWqCRw.png" alt="" loading="eager">Account &gt; Verification (verified)Purchase CryptocurrencyWe are limiting the feature to purchase cryptocurrency to select users while we make sure credit card payments and the transference of funds all work as we intended. We’ll be opening up this feature to the broader user base as well as providing more token options for purchase as time goes on and as more comprehensive testing is undergone.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*5nZvBfLRFqKnlVfZbmjlDw.png" alt="" loading="lazy">Verified users can buy crypto directly in the app.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*F4IMOHkkCZCjhfFJ1RJs9A.png" alt="" loading="lazy">Name Your Wallets!Yep, more wallet personalization! Name your wallet however you see fit.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*bysSkUP-3ImjQaTrXH1arg.png" alt="" loading="lazy">Rename your wallets! To a good year…Other bug fixes and improvements:<ul><li>Decreased the amount of reading needed for onboarding 🤓</li><li>Reward redemption codes that count as used after they are shown will now warn the user before it is shown.</li><li>App default setting changed: all tokens will be shown in the user portfolio, even those with low market cap.</li><li>Fixed a bug where the default payment wallets of contacts weren’t getting updated.</li><li>Removed the bottom navigation bar for screens that should not have it.</li></ul>&nbsp;We strive to constantly improve and enhance your experience with our wallet. Have feedback or encountered any issues? Don’t hesitate to contact us via Discord, or via any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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Jump starting the new year by giving select users access to new features: Identity verification and purchase cryptocurrency in-app.

Biweekly Dev Update: January 4th, 2023

Hey friends, and welcome back to another biweekly update. We’ve come a long way this year, and we have some big features in the works that we hope to be able to showcase early in 2023. Our chief technology officer told us to keep our lips shut, but let’s just say we expect to provide some verified, extended functionality.This week, we’ll simply do a brief rundown of the most significant changes so that everyone can go back home and celebrate Christmas with their families as early as possible🎄&nbsp;Japanese Language SupportNani?! Yep, you saw right — we now support a fourth language: Japanese. We do hope Omae Wa Mou Shindeiru doesn’t apply to you before you see this cool new localization.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*rB0_D1iOtcBUF9XX7U067g.png" alt="" loading="eager">Japanese language supportImproved NFT NotificationsReceiving way too many NFTs on a daily basis? Fret not. We now have a improved NFT notification system that’ll let you swipe new NFT acquisitions like you’re swiping on Tinder. Go get ’em, tiger. Rawr.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*y5hJeyXEhLdIfC847_MP8w.png" alt="" loading="lazy">Swiping NFT acquisitionsSeed Phrase Word SuggestionsYeah, we get it. Who has the time to enter twelve whole freaking words for a seed phrase? Fortunately, suggested words now pop up right after you enter just the first few letters of a word. Suggested words come from the BIP32 word list, so you can be sure that the words you select are actually used in seed phrases.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*ke6jLvl42Sv2IFoI-VBPig.png" alt="" loading="lazy">Word suggestions for seed phrasesRewards, now on the Home screenGiven the current state of the Defi market (yuck), we have replaced the Earn button with the Rewards button on the Home screen. Earn can still be found in the Account Screen, for those who never back down from a bear market.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*p7AeVVg0PrmhDja6kdg5Mw.png" alt="" loading="lazy">Rewards now on the Home screenWallet Connect Version 2 SupportWallet Connect v2 is still very new, but we’ve started implementing the corresponding SDKs and now support basic EVM chains. Users can now connect to Wallet Connect v2 DApps with our built in QR code scanner. Of course, the scanner is backwards comaptible and will work with Wallet Collect v1 as well.<img class="image_resized" style="width:680px;" src="https://miro.medium.com/max/700/1*nVuok3RavvXvbXf5ZyXz6w.png" alt="" loading="lazy">Wallet Connect Version 2 SupportOther Bugfixes and improvements<ul><li>Fixed some styles inconsistencies across Apple and Android phones.</li><li>Fixed a bug where users would be logged out, randomly, on occasion😣</li><li>Fixed a bug where the Request Payment screen would overflow on smaller phone sizes.</li><li>Added additional error messages for phone authentication failure.</li></ul>&nbsp;We hope these improvements enhance your experience with our app. If you have any feedback or encounter any issues, please don’t hesitate to contact us, via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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All hail the last biweekly update of 2022 — a short one so we can go back to our families and celebrate Christmas early :)

Biweekly Dev Update: December 21, 2022

Hey friends, and welcome back to another biweekly dev update. It’s almost the end of the year, and we’ve got some exciting, bigger new features ready to show you… soon. As of this week, these bigger features are still in development or testing. That said, we still have a list of smaller changes to show you this week.Here is a rundown of some of the changes:Upon launching the app, a screen now pops up that lists all new NFTs that the user has received in the past week.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*R1o-Z8Pg5h2AHOqjyvZXUQ.png" alt="" loading="lazy">Popup that shows all new NFTs received.Users can now see NFT descriptions (or the description of the collection that contains the NFT) in the NFT detail screen. Additionally, if any information regarding the NFT such as the title, image, or description has been updated, users can now manually request a metadata refresh. This also works for NFT reveals.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*3asPm4GK9m0dWOyne9oWBQ.png" alt="" loading="lazy">NFT description in Nft details<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*_aUeVRlj28pWN5Yr3HlGcQ.png" alt="" loading="lazy">Option to manually refresh metadata, found in the three dots on the top right cornerAirdrop under the Collectibles Tab was causing confusion, since it encompasses more utility than just airdropped NFTs to your wallet. We have therefore renamed it to Rewards.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*AhOi4e0KHvBTFi81VAl_oQ.png" alt="" loading="lazy">Airdrops renamed to RewardsLast but not least, we have brand new icons for different transaction categories in the Home Tab &gt; Activity.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*5yhkwNeTjFFBTPYx1UqdQA.png" alt="" loading="lazy">New icons for transactions! Yay.<h2 style="margin-left:0px;">Other Improvements and Bugfixes</h2><ul><li>Fixed a problem where certain Receive transactions were incorrectly labelled as Mint for Bitcoin and Solana.</li><li>Fixed a problem where token icons were missing for the BNB Chain.</li><li>Improved the image resolution of rewards found in Collectibles Tab &gt; Rewards</li><li>Fixed a bug where the request payment form (Home Tab &gt; Receive &gt; Request Payment) would overflow the screen.</li><li>Fixed a bug where NFT receive notifications would show NFTs that were received more than a week ago (default settings set to show NFTs received within the week)</li><li>Fixed a bug where transactions (Home Tab &gt; Activity) would temporarily disappear after refreshing.</li><li>Mint transactions now show more pertinent information than before.</li><li>Added a description to the Rewards screen (Collectibles Tab &gt; Rewards) in the case of no rewards, instead of it just being blank.</li><li>Added infinite scrolling to token selection in the Send screen.</li></ul>&nbsp;We hope these improvements enhance your experience with our app. If you have any feedback or encounter any issues, please don’t hesitate to contact us, via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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A rundown of the changes we’ve made this week, and getting ready for some bigger exciting updates.

Biweekly Dev Update: December 7th, 2022

Hey friends. We’re back from Meet Taipei, one of the largest startup gatherings in Asia, and we’ve been pretty busy with the event. We’ve even made this super dope personality quiz that predicts <a href="https://www.kryptogo.com/money-fortune">Which Web 3.0 Identity Are You?</a> Anyone who completes the quiz gets a free NFT corresponding to their results airdropped to their wallet, so be sure to check it out!<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*XA_gyM7VHRqL5XE9RH6WRg.png" alt="" loading="lazy">Meet Taipei event aside, our product must continue to improve, so without further ado, here are some of the bigger changes we’ve made this week.&nbsp;<h1 style="margin-left:0px;">Collections View, in the Collectibles Tab</h1>We’ve added a new way for users to browse their magnificent NFT collection! In the Collectibles Tab, users now have the option to either view NFTs by item or by collection. The Collections View, as its name suggests, bundles NFTs into their respective collections. Users can toggle between the two views at any time using the button located on the top right.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*yIcuYK5L-vDN4F_6MQl7fg.png" alt="" loading="eager">Use the toggle on the top right to switch from Item View to Collections View<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*jzJQWS2IvpMjcEVbjgPeFg.png" alt="" loading="eager">Collections View<h1 style="margin-left:0px;">The Password Dilemma</h1>When we originally designed our wallet, we made it so that passwords were optional –– users can decide for themselves whether they would 1) simply memorize their seed phrase and reimport their wallet every time they needed to authenticate their identity, or 2) provide a password to encrypt their seed phrase, and use their password to access their wallet. While KryptoGO is fully decentralized and does not store seed phrases nor users’ passwords (the only thing we store is the encrypted copy of the seed phrase, given that a password is provided), we have since realized that users less savvy or familiar with Web 3.0 are at a higher-than-we-expected risk of losing access to their wallets if we do not offer them any way to recover their wallet through a password mechanism. We have had users complain to us that their authentication token has expired due to their app being inactive for months, and thus, they no longer have access to their wallets. They do not remember their seed phrase nor did they back up their wallets with a password, and unfortunately, KryptoGO has no way of helping them.To solve this pain point for beginners only just entering the crypto landscape, we now require all new users to back up their wallets with a password during the registration process. For those concerned about data privacy, rest assured that we still do not store your private keys, nor any data that could allow anyone to acquire your private keys, to our own servers. This means even by the off chance that hackers get access to our servers, your on-chain assets are still fully protected. The team at KryptoGO is keenly aware about recent events that unfolded at FTX, one of the largest cryptocurrency exchanges in the world, and we believe that the only person that should have control over a wallet is the owner of said wallet. For now, we will be monitoring the consequences of this change, and will make further adjustments if need be.<h1 style="margin-left:0px;">Other Improvements and Bugfixes</h1><ul><li>Fixed a bug where users who have not yet set up Wallet Lock were shown certain options in Settings that should only be visible to those who had.</li><li>Fixed a bug where users did not have to unlock their wallets in order to view their seed phrase (They still needed to enter their passwords).</li><li>Fixed a bug where the user interface weren’t updating instantly when a new wallet is set as the default payment wallet.</li><li>Fixed a bug where user assets weren’t timely updating in the Send Screen, causing users to be unable to send assets that they do possess.</li><li>Fixed a bug where send transactions would fail if users entered the Send Screen from a specific entry point in Wallet View.</li><li>Fixed a bug where the DApp Browser wasn’t correctly redirecting to Discord or Twitter.</li><li>Added alert messages for Wallet Connect failures.</li><li>Fixed a bug where the app would behave strangely when logging in immediately after logging out.</li><li>Fixed a bug where MATIC tokens weren’t showing up correctly.</li><li>Improved English localization for NFT Airdrop notifications.</li></ul>&nbsp;As always, let us know what you think via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

We’re back from Meet Taipei 2022, one of the largest startup gatherings in Asia. And we’ve got a cool quiz to show you.

Biweekly Dev Update: November 23rd, 2022

Happy November, friends, and welcome back to another biweekly update. This week, we’ve done a significant amount of backend development, most of which is related to our latest feature: we’re integrating our own KryptoGO Compliance system with KryptoGO Wallet, which allows the user to verify their identity in order to purchase cryptocurrency using just a credit card.Of course, KryptoGO Wallet remains fully decentralized, and only you are in control of your own assets.Let us get right into how verification works!&nbsp;<h2 style="margin-left:0px;">User Identity Verification</h2>Under the Account Tab, there is now an additional Verification option. Unverified users see the grey unverified tag next to the option.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*Yq5wYGbSYbZwm5tBAAB9fg.png" alt="" loading="eager">Click on Verification, and click on Verify Now in order to unlock purchasing cryptocurrency using a credit card.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*0DAJmzVyRJQx2zoBUahWrA.png" alt="" loading="lazy">Next, simply follow the instructions on screen to complete verification.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*VG-H2RCkBVs6-ZD3jCA1Hw.png" alt="" loading="lazy"><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*Qw7CQITe8jIiOSxrxlnVNw.png" alt="" loading="lazy">The verification process will open up in a separate browser window, and will prompt you to upload the necessary documents. Verification takes a few days. Once verified, you will receive a notification, as well as see a green verified tag next to your Verification option.Identity verification is the next step toward building a safe, secure product, while still maintaining all the benefits of privacy, anonymity, and control of a decentralized wallet. Identity verification will help our product move forward as we develop new monetary trading and social features.&nbsp;Here are some bug fixes and improvements for the week:<ul><li>Fixed a bug where tokens on the BNB Chain weren’t showing up properly.</li><li>Fixed a bug where the equivalent USD value of tokens weren’t being calculated correctly if the user has no assets.</li><li>Previously, user sessions would time out if the app is left inactive for long periods of time, potentially locking out the user. The user will now see a helpful popup if the user session has expired or is close to expiring, reminding the user to memorize their seed phrase in order to recover their wallet.</li><li>Banner pictures are now shown in Notifications Center.</li></ul>&nbsp;As always, let us know what you think via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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We’re integrating our own KryptoGO Compliance system with KryptoGO Wallet, which allows the user to verify their identity.

Biweekly Dev Update: November 9th, 2022

Hey friends! Another week, and another biweekly update. Halloween is imminent, and while us developers at KryptoGO are not scared of witches, skeletons, nor zombies, we are scared of bugs. So we’ve squashed a few more of them to make the world a safer, happier place&nbsp;:)Here’s a list of bug fixes and quality-of-life improvements (Android users in particular should be very happy):<ul><li>Fixed a bug where a few DApp logos weren’t showing up properly in our DApp browser.</li><li>If you have received any NFTs between now and the last time you opened KryptoGO Wallet, the next time you open the app, a notification will pop up.</li></ul><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/20221026_2_4dfa5da22c/20221026_2_4dfa5da22c.png" alt="20221026-2.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_20221026_2_4dfa5da22c/thumbnail_20221026_2_4dfa5da22c.png 176w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_20221026_2_4dfa5da22c/small_20221026_2_4dfa5da22c.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_20221026_2_4dfa5da22c/medium_20221026_2_4dfa5da22c.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_20221026_2_4dfa5da22c/large_20221026_2_4dfa5da22c.png 1000w," sizes="100vw"><ul><li>Fixed a bug where if you open the app via tapping on a phone notification, the app gets stuck on the splash screen.</li><li>Fixed a bug where users who already received their KryptoGO Yacht Club NFT would still see the option to receive another one.</li><li>Fixed a bug where NFTs on Polygon weren’t updating correctly.</li><li>Fixed a bug where users couldn’t connect to certain DApps on Android phones.</li><li>Fixed a bug where Android users weren’t able to refresh their NFT collection in the Collectibles Tab.</li><li>Fixed a bug where the bottom navigation bar would sometimes disappear on Android phones.</li><li>Fixed a bug where certain emojis used for transactions wouldn’t show up on certain Android phones.</li><li>Fixed a bug where gas fees were being incorrectly calculated for Send operations.</li></ul>Also, in compliance with ISO27701 personal data and privacy regulations, we’ve added a popup dialog that details our privacy policy. Users need to agree with our privacy policy in order to continue using the wallet (of course, like we said numerous times before, security is our top priority.)<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/20221026_1_74659020dd/20221026_1_74659020dd.png" alt="20221026-1.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_20221026_1_74659020dd/thumbnail_20221026_1_74659020dd.png 176w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_20221026_1_74659020dd/small_20221026_1_74659020dd.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_20221026_1_74659020dd/medium_20221026_1_74659020dd.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_20221026_1_74659020dd/large_20221026_1_74659020dd.png 1000w," sizes="100vw"><hr>We’re in the process of working on some bigger changes that we will share with you once the time is right. As always, let us know what you think via Discord, or any of our other social media links listed below.<h3>Follow us:</h3><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>&nbsp;

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Hey friends! Another week, and another biweekly update. Halloween is imminent, and while us developers at KryptoGO are not scared of witches, skeletons, nor zombies, we are scared of bugs. So we’ve squashed a few more of them to make the world a safer, happier place :)

Biweekly Dev Update: October 26th, 2022

Hey friends, and welcome back to another biweekly update.This week, we’re reimagining how wallet data can be shown. Based on our internal discussions as well as feedback collected from our users, we’ve decided to shuffle the tabs around in a way which makes navigation more intuitive.<img class="image_resized" style="width:448px;" src="https://miro.medium.com/max/448/1*p013LlfJ2Cs5H1nlz-y2Gw.png" alt="" loading="lazy">Tabs are shuffled!Let us waste no time and start shuffling!<h1 style="margin-left:0px;">We’re Shufflin’ the Tabs</h1>When the Multiple Multi-Wallet Update was introduced at the end of August, the Home Tab was designed to be a comprehensive, consolidated portfolio which told users what assets they had on all supported chains at a glance. They’d also be able to see their most valuable assets listed in order of monetary value (floor price, in the case of NFTs), as well as an asset distribution analysis of their account.The Wallet Tab, on the other hand, would list all the different wallets that belonged under the user’s phone number, as well as assets for every wallet. While both the Home Tab and the Wallet Tab served their purposes, we’ve since discovered that having two tabs display information that was quite similar introduced a bit more redundancy than we liked. Users reported that they got confused why there was a balance discrepancy between the Home Tab and the Wallet Tab, or why certain assets appeared only in the one tab and not the other.In addition, with the Airdrop Center introduced in September, and with our plan to emphasize NFT utility and their real world applications, nesting NFTs three layers deep under Wallet Tab &gt; Wallet &gt; NFTs didn’t make a whole lot of sense in terms of usability. Based on our internal discussions and user feedback, we’ve reimagined how wallet data can be shown in the app, hoping to provide a better user experience and more intuitive navigation for all our users.Here are the major changes:<ul><li>Home Tab and Wallet Tab have been merged together, into a new and improved Home Tab. This means no more confusion on where to go to see your comprehensive portfolio and all your assets. We’ve also moved asset distribution analysis, transactions, wallet management, the gas tracker, and other related features to corresponding sub tabs under the Home Tab.</li></ul><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*8AA11RvtCkCqJltYVCRooQ.jpeg" alt="" loading="lazy">The new and improved Home Tab, with Assets, Wallets, and Activity sub tabs<ul><li>New Collectibles Tab. The Collectibles Tab show all your NFTs in one place. Putting NFTs in a tab of its own gives us more phone screen estate to show off your favorite artwork and PFPs. We’ve also moved the Airdrop Center to the Collectibles Tab, allowing users to view their NFT utility with a quick swipe of the finger.</li></ul><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*Eow8W5ZdkZM4e4eEf3-ofg.jpeg" alt="" loading="lazy">The new Collectibles Tab houses all your NFTs, as well as the Airdrop Center.<ul><li>There’s also a hidden bonus feature that allows you to see your NFTs as if they’re on NFT Instagram (heh). Just long press on Collections in the Collectibles Tab.</li></ul><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*aF5729Txiq-PXGwlI9nBtA.jpeg" alt="" loading="lazy">NFT Instagram, right in KryptoGO WalletQoL Improvements:<ul><li>Transactions show relevant wallet addresses instead of the transaction hash. For instance, send and receive transactions show the wallet address to and from which the funds were sent. The transaction hash can still be found on the detailed transaction screen.</li></ul><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*4hCGIF3hZt6ZLcm7TXV9gg.jpeg" alt="" loading="lazy">Transactions now show relevant wallet addresses instead of transaction hash.<ul><li>Wrap, unwrap, approve, and revoke transaction type support for EVM chains other than Ethereum.</li><li>More precision for token amounts: now truncates numbers to the thousandths instead of rounding to the nearest hundredths, e.g., 1.0155 USDC now shows up us 1.015 USDC instead of 1.02 USDC.</li><li>MP3 and MP4 multimedia NFTs will now show up correctly and can be played back.</li><li>Users with no NFTs can receive a KryptoGO Yacht Club NFT, on the house! Just click on the Collectibles Tab and follow the instructions :)</li></ul><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/700/1*GEkGS7iut3FjBxvbZzli_w.jpeg" alt="" loading="lazy">receive a KryptoGO Yacht Club NFT, on the house!<ul><li>Swipe to reveal the QR code on the backside of NFTs, rather than tapping.</li></ul>Bugfixes:<ul><li>fixed a bug where the NFT list wasn’t refreshing.</li><li>fixed a bug where users logging in to KryptoGO Wallet with a new device would see the native system’s permission popup (asking for notification permissions) before KryptoGO’s own permission popup.</li></ul>&nbsp;As always, let us know what you think via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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This week, a redesign of how wallet data in shown in the app. It’s time to start shuffling!

Biweekly Dev Update: October 12th, 2022

<hr>Hey friends. Welcome back to another biweekly dev update.We’ve spent the past two dev updates talking about our Multiple Multi-wallet update and the bug fixes associated with it. It’s a significant architectural change, and we’re glad to have received feedback that many of you find the extended flexibility of having multiple wallets useful.Of course, architectural and account model changes might be too low-level than most users care about, so this week, I think it’s worth zooming out a bit to talk about KryptoGO’s vision, and how our constant product updates, whether it be new features, upgrades of existing features, or even bug fixes, align with said vision.<hr><h4>Your Crypto Portfolio, as comprehensive as can&nbsp;be</h4>KryptoGO Wallet, starting from version 2.0.0, supports multiple wallets from multiple blockchains. Yes, it’s great and all, but let’s face the elephant in the room: It’s not enough.Since the beginning, one thing that KryptoGO has always wanted to do for our users was to make a comprehensive portfolio that made it easy for everyone to keep track and manage their on-chain assets, ideally for as many chains as needed. If you think about it, this is the very definition of a wallet. You look at your wallet, and you are able to see your assets.However, in the world of cryptocurrency, where new blockchains, tokens, DeFi investments, and NFTs pop up like bamboo shoots after a refreshing spring rain (that’s a real Chinese idiom), even meeting the bare minimum of a wallet is hard. That’s why a lot of wallets on the market either focus on supporting a single chain (e.g., an Ethereum wallet like Rainbow or Metamask), or they focus on supporting a single asset class (e.g., an NFT wallet like Floor).However, this kind of design philosophy poses problems for both crypto veterans and beginners alike. Veterans likely have assets across many chains, in many asset classes, which means they need more than one wallet in order to keep track of everything. If you think someone who carries ten physical wallets when they go shopping at Target is wack, then wait till you find out how many crypto wallets a crypto veteran at KryptoGO had before KryptoGO Wallet was released (hint: it’s more than 10).For crypto newbies, even without any assets, they face a problem immediately. Out of the hundreds of wallets on the market, which one do they choose? This problem is compounded when the user lacks the knowledge of blockchains and different on-chain asset classes. If a user doesn’t know that Bitcoin and Ethereum run on different chains, how are they to choose the wallet that is right for them?Therefore, the product team at KryptoGO believes that the multiple multi-wallet update only just fulfilled the fundamentals that any decent wallet should have. We’ve significantly lowered the barrier for entry. Crypto beginners can start using our wallet immediately and be assured that we support many mainstream blockchains. Our proprietary “phone number as account identity identification” model makes this even easier: Registration is super fast, and users do not need to memorize or even know what a private key is to start using our wallet. On the other hand, crypto veterans finally have a wallet that can effectively consolidate all their on-chain assets in one comprehensive portfolio. The multiple multi-wallet update provided a base on which to build new and exciting features, and now a single question lingers. What do we currently want to build?<hr><h4>Interact with the world as your Web 3.0 Identity, using KryptoGO&nbsp;Wallet</h4>Now that we’ve established this phone number 👉 multiple wallets 👉 comprehensive on-chain portfolio model, we want to make KryptoGO the go-to gateway whenever you want to connect a wallet of yours with some other service or utility, or more broadly, when you want to interact with the world, either online or offline, as your Web 3.0 identity. Our built-in DApp browser and Wallet Connect already help with this when you want to connect to any decentralized application. We’re currently focusing on offline interaction, so a big feature that we added this week focuses on NFT collections and NFT utility.Introducing…<h4>✈️ The Airdrop Center!&nbsp;✈️</h4><img src="https://cdn-images-1.medium.com/max/800/1*19T7scvA3aBn382CEjeHRA.png">The brand new ✈️ Airdrop&nbsp;Center✈️We’re betting that NFTs are going to be widely used in the future in all sorts of fun ways: coupons, membership cards, vouchers, admission tickets… you name it! So, we are introducing our in-app Airdrop Center, which works together with KryptoGO Dashboard for project teams and event creators to afford customizable utility to air-droppable NFTs!Here’s how it works: if you have any NFTs that received utility via KryptoGO (e.g., you might have an NFT that allows you to redeem a delicious free meal), you’ll see all these NFTs as well as their corresponding utility and redeemable rewards listed in the Airdrop Center, located on the Home Tab. You can see the details of the redeemable rewards, as well as any rewards that you have redeemed in the past.<img src="https://cdn-images-1.medium.com/max/800/1*QVqNlo5hof4zA5jlqJtX4A.png">The Airdrop Center lists all your NFT with utility (e.g. redeemable rewards)To redeem a reward, simply select the corresponding NFT, and choose Redeem Now. A QR code will be generated upon request. Have the event personnel (in the case of a free meal, maybe ask who’s responsible for NFT rewards at the restaurant?) open our in-app QR code scanner to scan your code. Once verification is complete and we made sure you are the owner of the NFT, you get your reward!<img src="https://cdn-images-1.medium.com/max/800/1*bKDITBWRuA1NI_-mrD65lQ.png">Redeeming a reward via QR&nbsp;codeWe hope to make it really easy to utilize on-chain assets in offline applications via our line of products, while giving users the smoothest experience as possible. We already have some collaborations in the works that we will reveal once the time is right, so stay tuned&nbsp;:)<hr><h4>Other new&nbsp;features</h4><ul><li>Payment Requests: You can now create a payment request that contains all the details of a payment (e.g., wallet address, token, amount) in a QR code. Send the QR code to whoever should pay you and they automatically get all the details they need. Super convenient!</li></ul><img src="https://cdn-images-1.medium.com/max/800/1*Mg1DLzqX1wVrXp2a0m-W_Q.png">Request a payment from someone else simply by generating a QR&nbsp;code.<ul><li>You may now sort your NFT collection via acquired date. This makes it easy to see your freshly minted and airdropped NFTs!</li><li>Updated Notifications Center: We’ve added infinite scrolling to our in-app Notifications Center for a better user experience.</li><li>New Support Page: Under the account tab, you will now find a new Support option. If you need help, contact us via email or submit a ticket on our Discord.</li></ul><img src="https://cdn-images-1.medium.com/max/800/1*FbaBLCAzEHdLxyYWneM4bg.png">new support page under the Account&nbsp;Tab<ul><li>ENS support for EVM chains: You may now send or receive funds using Ethereum Name Service instead of your wallet address.</li><li>More precise categories for on-chain transactions: We added “Wrap” and “Unwrap” as transaction categories (in addition to the existing “Received”, “Sent”, “Trade”, and “Contract Execution”)</li><li>Select users may see a survey pop up asking about your experience with our wallet. We appreciate all the feedback that you guys give us 🥰</li></ul><img src="https://cdn-images-1.medium.com/max/800/1*JdLyLLkw5n9sNlmN0SfZaQ.png">survey that might pop up&nbsp;:)<hr>As always, let us know what you think via Discord, or any of our other social media links listed below.<h3>Follow us:</h3><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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This week, we zoom out to talk about our high-level vision and goals, and introduce our latest feature: The brand new Airdrop Center.

Biweekly Dev Update: September 28th, 2022

There are countless cryptocurrency wallets, and the key difference between them is how the private key is kept. This article focuses on the private key management mechanism and technology used in decentralized wallets like KryptoGO Wallet.<h1 style="margin-left:0cm;">Non-Deterministic Wallets</h1>Generate a random number string as the private key. (by cryptographically secure pseudo-random number generator) The public key has nothing to do with the private key, but when there are multiple private keys, they must be backed up, exported, and imported one by one, which is extremely cumbersome.In practice, this type of wallet is relatively rare.<h1 style="margin-left:0cm;">Hierarchical Deterministic Wallets (HD Wallet)</h1>The opposite concept of non-deterministic wallet. The HD wallet derives multiple public and private key pairs from the original seed phrase, so it only requires easily written seed phrases when backing up and importing the wallet. The concept was proposed by BIP32 (Bitcoin Improvement Proposals), BIP39 solves the problem of the difficulty to transcribe and memorize seed phrases, and BIP44 standardizes the path specification of each coin to reach industry consensus.The combination of BIP32, BIP39, and BIP44 is the current industry mainstream decentralized hierarchical wallet approach. This feature is suitable for collection services, such as store collection, creating a public key for each user to receive payments, and also allowing users to give other users airdrops, etc.<h2 style="margin-left:0cm;">BIP39: Making the seed phrase readable</h2>The main description of seed phrase code and the implementation of seed phrase. It consists of two parts:<ol style="list-style-type:decimal;"><li>Generate a seed phrase and convert it into a binary seed.</li><li>Seeds can later be used to generate deterministic wallets using BIP-032 or similar methods.</li></ol>Seed phrases are more friendly for human compared to processing the original binary or hexadecimal numbers of the wallet seeds. It can be written down or even be memorized by people with good memory. BIP39 generates numbers by transcoding irregular strings of numbers that are difficult to remember, splitting them, and mapping them in a single word list to generate seed phrases that can be read by humans to transfer computer-generated randomness.<h2 style="margin-left:0cm;">BIP32: The Foundational Standard for Hierarchical wallets</h2>Wallets can be partially or fully shared with other systems, with every system is able to send and receive independently. The purpose of this specification is to set a hierarchical wallet standard that can be exchanged between non-customers. Any pair of private keys can be derived through a common seed, and the private key derivation uses an irreversible algorithm that can only be derived from higher levels to lower levels. HD wallet can generate a large number of public keys using elliptic curve cryptography without the need for private keys.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2/0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2.png" alt="0*Re2k73xP9bcQXm6K.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2/thumbnail_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2/small_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2/medium_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2.png 750w," sizes="100vw"><a href="https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki">https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki</a><h2 style="margin-left:0cm;">BIP44: Indexing Method for Defining Derived Addresses</h2>The secret key derived through this hierarchy (tree structure) is usually expressed by the route, with slash (/) between each level, and the start of the private key derived from the primary private key is prefixed with an “m”.m / purpose'/ coin_type'/ account'/ change / address_index<ol style="list-style-type:decimal;"><li>purpose: BIP number, “44” for BIP44</li><li>coin_type: coin type, 60 for Ethereum</li><li>account: index of the account, starting from 0</li><li>change: 0 for external chains, 1 for internal chains</li><li>address_index: address index, starting from 0</li></ol><h1 style="margin-left:0cm;">External Wallet Address Generation Process</h1>Take the following seed phrases for example, the process of generating from seed phrases to the final wallet address that users see is as follows:&nbsp;rose rocket invest real refuse margin festival danger anger border idle brown<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png" alt="1*Z1rsRKUgD_mvtK_Ltb-9Kw.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/thumbnail_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/small_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/medium_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/large_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png 1000w," sizes="100vw">From seed phrases to wallet addressThe efficacy test could be done by<a href="https://iancoleman.io/bip39/#english"> Mnemonic Code Converter</a>:<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png" alt="1*cehZ5jx7yMUv_-vLoZ4rJg.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/thumbnail_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/small_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/medium_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/large_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png 1000w," sizes="100vw">Account Model for KryptoGO WalletOur unique account model is a one-to-one matching of phone numbers and seed phrases, and derives multiple chains of wallet addresses. Therefore, it allows us to check who the transferer is and where the funds source is from, providing the best gatekeeper for the user’s assets.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832/1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832.png" alt="1*4TKfQQgw2S0tRYf3Tx1eaw.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832/thumbnail_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832/small_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832/medium_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832.png 750w," sizes="100vw">KryptoGO Wallet’s Account Model

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There are countless cryptocurrency wallets, and the key difference between them is how the private key is kept. This article focuses on the private key management mechanism and technology used in decentralized wallets like KryptoGO Wallet.

加密貨幣錢包多不勝數，之間的關鍵差異就在於私鑰的保管方式。這篇文章主要介紹 KryptoGO Wallet 這類型去中心化錢包所使用到的私鑰管理機制與技術。<h1 style="margin-left:0px;">非確定性錢包（Non-Deterministic Wallets）</h1>隨機生成一個數字串作為私鑰，可以使用密碼學安全的偽隨機數生成器，公鑰與私鑰毫無關係，缺點當有多個私鑰，必須逐個備份，導出，導入，極其麻煩。實務上這類型的錢包比較少見。<h1 style="margin-left:0px;">階層式確定性錢包（Hierachical Deterministic Wallets）</h1>俗稱 HD 錢包，與非確定性錢包相反，由最原始的 Seed Phrase 推導出多個公私鑰對，在備份導入錢包時候就只需要助記詞方便抄寫。HD 錢包可以在不需要私鑰情況下運用橢圓曲線算法生成大量公鑰。概念是由 BIP32（Bitcoin Improvement Proposals）提出，BIP39 解決助記詞難以抄寫記憶問題，BIP44 規範各個幣種路徑規範達成業界共識。結合 BIP32, BIP39, 以及 BIP44 就是目前業界主流的去中心化分層錢包的做法。這個特性適合收款服務，比如商店收款，為每個用戶創建一個收款公鑰匙，也可以用戶給用戶空投等。<h2 style="margin-left:0px;">BIP39：讓助記詞具備可讀性</h2>主要描述助記詞代碼，助記詞句子的實現，包括兩部分<ol style="list-style-type:decimal;"><li>生成助記詞，將其轉化為 2 進制種子</li><li>種子可以稍後用於使用 BIP-0032 或類似方法生成確定性錢包。</li></ol>與處理錢包種子原始二進制或十六進制數字相比助記符對於人類交互是更優越的。可以寫在紙上，記性好的還可以背下來。BIP39 將一些列難以記住的無規則的數字串通過轉碼拆分後生成數字，在於單詞表進行映射生成助記詞，通過人類可讀轉錄傳輸計算機生成的隨機性，<h2 style="margin-left:0px;">BIP32：階層式錢包的基礎標準</h2>錢包可以部分或全部與其它系統共享，每個系統都能獨立收發。這個規范的目的是設定一個分層錢包標准，能在不通客戶之間交換。通過一個共同的種子可以導出任意對私鑰，私鑰推導採用不可逆算法，只可以由高層級推導低層級，HD 錢包可以在不需要私鑰情況下運用橢圓曲線算法生成大量公鑰。<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2/0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2.png" alt="0*Re2k73xP9bcQXm6K.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2/thumbnail_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2/small_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2/medium_0_Re2k73x_P9bc_Q_Xm6_K_e59c148df2.png 750w," sizes="100vw"><a href="https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki">https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki</a><h2 style="margin-left:0px;">BIP44：定義衍生地址的索引方式</h2>通過這種分層（樹狀結構）推導出來的秘鑰，通常用路徑來表示，每個級別之間用斜槓 / 來表示，由主私鑰衍生出的私鑰起始以 “m” 打頭。m / purpose’/ coin_type’/ account’/ change / address_index<ol style="list-style-type:decimal;"><li>purpose：BIP 編號，44 代表 BIP44</li><li>coin_type：<a href="https://github.com/satoshilabs/slips/blob/master/slip-0044.md">幣種</a>，60 代表 Ethereum</li><li>account：帳戶索引，從 0 開始</li><li>change：0 用於外部鏈，1 用於內部鏈</li><li>address_index：地址索引，從 0 開始</li></ol><h1 style="margin-left:0px;">對外錢包地址的生成流程</h1>如果以下方助記詞為例，到最後使用者可見的錢包地址生成流程如下圖：rose rocket invest real refuse margin festival danger anger border idle brown <img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png" alt="1*Z1rsRKUgD_mvtK_Ltb-9Kw.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/thumbnail_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/small_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/medium_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975/large_1_Z1rs_RK_Ug_D_mvt_K_Ltb_9_Kw_393311f975.png 1000w," sizes="100vw">從助記詞到錢包地址可以使用 <a href="https://iancoleman.io/bip39/#english">Mnemonic Code Converter</a> 來做效驗：<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png" alt="1*cehZ5jx7yMUv_-vLoZ4rJg.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/thumbnail_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/small_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/medium_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d/large_1_ceh_Z5jx7y_M_Uv_v_Lo_Z4r_Jg_07b171628d.png 1000w," sizes="100vw"> KryptoGO Wallet 的帳戶模型我們獨特的帳戶模型是將電話號碼與公鑰做一對一的匹配，並且衍生出多鏈的錢包地址，這樣的好處是我們可以做轉帳對象以及資金來源的檢核，為使用者的資產做最好的把關。<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832/1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832.png" alt="1*4TKfQQgw2S0tRYf3Tx1eaw.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832/thumbnail_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832/small_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832/medium_1_4_T_Kf_Q_Qgw2_S0t_R_Yf3_Tx1eaw_9ab77f7832.png 750w," sizes="100vw"><code>KryptoGO Wallet 帳戶模型</code>

加密貨幣錢包多不勝數，之間的關鍵差異就在於私鑰的保管方式。這篇文章主要介紹 KryptoGO Wallet 這類型去中心化錢包所使用到的私鑰管理機制與技術。

Web 3 時代必備的金融資安常識：助記詞/私鑰/錢包（帳號）

Things you should know about financial security in the Web3 era: How does token, private key, and wallet (account) work?

Hey friends! We hope you’ve all been finding our latest multiple multi-wallet update useful.After a big update, the following weeks may seem less glamorous, consisting of various bug fixes and smaller improvements, but these fixes are essential for creating a better user experience and hence, we will not overlook them.Here is a list of bugs that we caught and squished 😠<ul><li>Fixed a bug where the QR codes on the flip side of NFTs weren’t functioning properly.</li><li>Users who imported a seed phrase to create their wallet group (as opposed to creating a wallet group via KryptoGO’s wallet-generation procedure) are now able to reveal their seed phrase in the settings page.</li><li>Assets now correctly refresh after a wallet is removed.</li><li>Fixed a bug where the line chart data on the home screen had an 8-hour discrepancy with actual data.</li><li>Fixed a bug where the user would sometimes encounter a blank screen due to erroneous wallet routing.</li><li>Fixed a bug where the user avatar shows up as empty despite the user having set an NFT as their avatar.</li><li>Fixed a bug where low-cap tokens would show up in EVM wallets in a wallet group even though they shouldn’t.</li><li>On the flip side, fixed a bug where certain low-cap tokens weren’t showing up even though they should.</li><li>Fixed a bug where custom gas fees values weren’t being used correctly.</li><li>Fixed a bug where Wallet Connect fails when switching chains.</li><li>Fixed a bug where wallets weren’t syncing between multiple devices.</li></ul>We’ve also been testing out some new functionality specifically for affording NFTs utility and making the distribution of NFTs (think: airdrops, or NFT rewards) much easier for both project teams and users. We’ll reveal more details when the time is right, but meanwhile, we are launching KryptoGO Yacht Club (KGYC), a free NFT for y’all that also allows us to test out infrastructure. Check out the event website <a href="https://wallet.kryptogo.com/events/kryptogo-yacht-club">here</a> and get your free NFT!&nbsp;It is worth noting that the Ethereum “Merge” is coming soon! In a few days time, Ethereum is undergoing The Merge, a long-awaited upgrade transitioning the consensus protocol from proof-of-work (POW) to proof-of-stake (POS).It’s a pretty big deal. However, you won’t need to do anything! Your ETH will transfer over after The Merge, and you’ll still be able to see the full amount in your wallets following the upgrade. Sit back, and watch as the most significant upgrade of Ethereum unfolds.&nbsp;As always, let us know what you think via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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This week, bug fixes and improvements following our latest big update, as well as testing our infrastructure for affording utility to NFTs.

Biweekly Dev Update: September 14th, 2022

<blockquote>NFT shouldn’t be complicated and difficult to receive. The most ideal process is that consumers receive NFT automatically without doing anything.</blockquote>The NFT craze in Taiwan has given rise to a number of refreshing branded NFT distribution activities, such as the <a href="https://mazudao.io/">Mazu NFT</a> campaign launched by Dajia Chenglan Temple, the <a href="https://www.bnext.com.tw/article/70844/carrefour2022">Yuan Pu Tu</a> campaign by Carrefour and so on. What’s more, <a href="https://www.bnext.com.tw/article/71345/toyota-nft">the Garage 86 activity&nbsp;</a>held by Hotai Motor allows NTF holders to not only get more airdrops but also have the opportunity to draw for new sports car test drives through multi-level task design.However, although these NFT marketing events seem to be glamorous, it appears to be difficult to attract people from non-traditional currency circles to participate in. An author has asked friends outside the currency circle that few people really own NFT.What are the obstacles to the NFT issuance? Why is NFT, which has the advantage of liquidity compared to traditional coupons, not yet popular? Is there an unknown cost of NFT issuance? Let's break down the real-life case study and understand the process in five minutes.<figure class="image"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_afa17f377f/image_afa17f377f.png"><figcaption>-Taiwan's NFT activities are on the rise, but have not yet truly reached the mass market | Source: Major Official websites –</figcaption></figure>Why is NFT not yet a marketing tool? The key is " How to deliver it"Buying and participating in events is all about experience. If the overall process experience is excellent, users will flock to the event; on the other hand, if the experience is poor, users will be discouraged even if they love the IP/brand.Let's take the above marketing campaigns as examples to see how they "deliver" NFT to consumers.Hot wallet paradox: I come to the driving class because I don’t know how, and you still ask me to drive here?The activities at <a href="https://mazudao.io/">Chenglan Temple</a> are very dazzling, and buyers can have the exclusive votive candle, priority participation in the pilgrimage, and other empowerments that are said to be awesome benefits for believers, but why haven't we seen any grandpas and grandmas displaying or using it?Let's take a look at its NFT "delivery" process to get a glimpse.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_187a75b887/image_187a75b887.png">Did you find out where the problem is?<blockquote>Exactly, If Chenglan Temple wants to “issue NFT”, the buyers must’ve already registered a hot wallet.</blockquote>For newbies in the crypto currency experiences, this can be very strenuous. He was only intended to buy a NFT to support Mazu but end up suffering from registering Metamask, memorizing seed phrases, keeping the private key, and so on. This is just as ridiculous as you wanted to buy a scooter, but somehow got educated how to see the stock K line by the shopkeeper.<blockquote>Then, what will happen if the consumer doesn’t know how to use hot wallet and find a vender to build one for them?</blockquote>This is even worse. The vender would possess the seed phrase and private key of your wallet, both of which will allow anyone can access the assets in the wallet anywhere, and both of which cannot be changed. For example, you rented a safe at the post office and then gave the spare key to a teller he didn’t know well, which is a stupid way to do so as nobody can guarantee that the teller will not be short of money one day and steal it all.<blockquote>Finally, the NFT is not even displayed automatically!</blockquote>Although Metamask is the most popular wallet on the market, it has a fatal flaw, that is, it cannot display NFT automatically, it needs to <a href="https://metamask.zendesk.com/hc/en-us/articles/360015489331-How-to-import-an-account">manually import information</a> to make it display correctly. This is like buying an electric cooker, but had to assemble all the parts from scratch to use, how inconvenient!<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_2ca3a3df41/image_2ca3a3df41.png">This situation also happened in <a href="https://www.bnext.com.tw/article/71345/toyota-nft">TOYOTA's Garage 86 NFT</a> event and <a href="https://www.bnext.com.tw/article/68381/asmeir-nft?">A-mei's ASMR concert</a>, where users had to have a wallet before they could participate in the event and receive NFTs. This requirement is almost mission impossible for newbies. (A-mei's NFTs will only be released to the corresponding wallets in 1-2 weeks after fans apply for them, so they cannot be delivered in time)Even though some manufacturers will temporarily respond with customer service staff, but what if there are thousands or even tens of thousands of consumers? Should customer service centers be disbanded in place? Of course not, but this would mean that the distribution costs of the NFT marketing campaign would skyrocket.You can find out the paradox within the below meme.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_54b39eb531/image_54b39eb531.png">Terrible experience and inability to expand are the pain points of NFT distributionLet's take a look at the characteristics of existing NFT releases, which are limited to existing members and not used to expand the unfamiliar customer base.A-mei's ASMR NFT is designed to reward "fans" who come to concerts, while the NFT created at Chenglan Temple is designed to empower "believers," which does not reach people beyond loyal fans, thus limiting the effectiveness of NFT marketing. For example, the business community may not be interested in the Mazu NFT at the Chenglan Temple, even if the brand has worked extremely hard to create popularity.NFT should not just be a niche pleasure, as it is something that can become a medium which everyone is accustomed to.Imagine if Chenglan Temple made its Mazu NFT in to a QR-Code and put it on the Taiwan Railroad, passenger transportation, and even the MRT system for exposure, all passengers can get the NFT as soon as they scan the code.Then, instead of only earning one-time income, Chenglan Temple can continuously put empowerment and advertisement to these holders, such as Chenglan Temple's related gifts and blessing objects, so that they can get to know Chenglan Temple and even visit it, which could further lead to donations and peripheral consumption. Then, the combined economic potential will become much greater, so that the single issuance cost can leverage greater benefits.What features should a truly outstanding NFT Solution have?From the above, we can see that if a brand wants to issue NFT, the only solution is to make the "arrival process" of NFT simple and easy to use by deeply managing members and even reaching out to unfamiliar customers. Otherwise, even for those who are more motivated to learn may be discouraged by the high threshold.Good NFT distribution methods should possess the following two major points.<ul><li>Easy-to-use delivery process (automated, low threshold, no teaching costs, deliver in time preferably)</li><li>Reach out to unfamiliar customers (to expand business and bring more efficiency)</li></ul><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_cb733027d9/image_cb733027d9.png">KryptoGO's first "phone number airdrop" makes receiving NFTs even easier than drawing toilet paper!So, is there a simple, easy-to-use and effective NFT distribution solution that meets the two points above?Sure! <a href="https://www.kryptogo.com/tw/products/wallet">KryptoGO</a> is the first of its kind, pioneering the concept of "Phone Keychain", using familiar phone numbers as a medium to help brands/users easily enter Web3.With a cell phone number, KryptoGO can help you with the followings:<ul><li>Users can get a hot wallet in 10 seconds (Metamask takes at least 1~3 minutes and the process is complicated)</li><li>Helps brands to easily drop/collect NFTs without the need to register and download wallets in advance!</li></ul>&nbsp;Actual Case BreakdownLet's take the example of <a href="https://mazudao.io/">Chenglan Temple’s MaZu NFT</a> again and compare the difference between the existing process and the process after importing KryptoGO.<ul><li>Eliminate the barrier of entry:&nbsp;users do not need to prepare a hot wallet in advance, manufacturers do not need to build on their behalf.</li><li>Immediate automatic dispatch: NFTs are dispatched immediately and airdropped via phone number, collecting wallet addresses Is no longer needed.</li><li>Automatic NFT display: the NFT will be displayed automatically without any kind of operational knowledge.</li></ul>KryptoGO wallet also has a built-in empowerment redemption system, so holders don't have to jump to other websites or tools, they can make it all happen in one single app. KryptoGO also allows brands to manage their own empowerment items/expiration dates/redeem times, etc.In other words, KryptoGO optimizes the "delivery process", "product usage" and "inventory management" of NFT in the meantime. It can be said that KryptoGO is the best NFT solution for both brands and consumers.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_546c3756b0/image_546c3756b0.png">Action speaks louder than words: scan the code and experience the phone number airdrop at light speed!Whether you're a brand or a user looking for an easy-to-use NFT carrier, you can scan the QR-Code below to pick up KryptoGO's phone airdrop NFT "KryptoGO Yacht Club" and experience the power of NFT in 30 seconds!<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_7453b020a1/image_7453b020a1.png">After receiving the NFT, you must have already felt how KryptoGO can simplify and optimize your brand/user's NFT experience. Still searching for the best solution for NFT distribution/enabling item management/enhancing user's Web3 experience?Contact <a href="https://www.kryptogo.com/tw/contact/sales">KryptoGO&nbsp;</a>and turn your Web3 business around with NFT!&nbsp;#NFT #Issuance Costs #Issuance Process #Easy to Get

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NFT shouldn’t be complicated and difficult to receive. The most ideal process is that consumers receive NFT automatically without doing anything.

<blockquote>NFT 不應複雜難領，消費者最好什麼都不用做、它就自動到貨</blockquote>NFT 熱潮吹進台灣，催生出不少令人耳目一新的品牌 NFT 發行活動，諸如大甲鎮瀾宮所推出的<a href="https://mazudao.io/">媽祖到 NFT</a>、家樂福的<a href="https://www.bnext.com.tw/article/70844/carrefour2022">元普渡</a>等；更厲害的還有和泰汽車的 <a href="https://www.bnext.com.tw/article/71345/toyota-nft">Garage 86 活動</a>，透過多層次任務設計，讓 NFT 持有者不只可拿到更多空投、還有機會抽中全新跑車試乘。然而，儘管這些 NFT 行銷活動看似風光，卻似乎難以吸引非傳統幣圈的人進場參與，筆者問遍幣圈同溫層以外的朋友，沒有多少人真的持有 NFT。究竟 NFT 發行活動有哪些窒礙難行之處？為何相較傳統優惠券、佔據流動性優勢的 NFT 尚未普及？是否存在未知的 NFT 發行成本？就讓我們拆解實際案例、在五分鐘內迅速看懂。&nbsp;<figure class="image"><img src="https://cdn-images-1.medium.com/max/1436/0*oCmkrAN7KXyg9pfq"><figcaption>- 台灣 NFT 活動風起雲湧，但尚未真正打入大眾市場 | 圖源：各大項目官網 -</figcaption></figure>&nbsp;<h3>NFT 為何尚非行銷利器？「送貨方式」是關鍵</h3>購買、參與活動，首重體驗。若整體流程體驗絕佳，用戶自然蜂擁而至；反之若體驗不佳，用戶再對 IP／品牌有愛，也將打退堂鼓。讓我們以上述幾個行銷活動為例，觀察他們如何將 NFT 「送」到消費者手上。<h4>熱錢包悖論：我就不會開車才來上駕訓班，你還叫我開車來？</h4><a href="https://mazudao.io/">鎮瀾宮</a>的活動非常炫炮，買家可以擁有專屬光明塔、遶境時優先參與等賦能，堪稱信徒的超讚福利，但為什麼並沒有看到有阿公阿罵在展示、使用它？讓我們看看它的 NFT「送貨」流程，便可一窺端倪：<figure class="image"><img src="https://cdn-images-1.medium.com/max/1436/1*FOWG3je6na_1YtYSdVwZtQ.png"></figure>發現問題出在哪了嗎？<blockquote>沒錯，若鎮瀾宮（品牌）想要「發貨」，買家必須「先註冊好熱錢包」</blockquote>對於加密貨幣經驗的小白而言，這是非常吃力的。他原本只是想買個 NFT 支持媽祖，卻被迫在消費流程中註冊 Metamask，慘遭「助記詞」、「私鑰保存」等術語迎面重擊；這就好比小明只是想買台代步機車、卻莫名被店員教育股票 K 線怎麼看一樣荒唐。&nbsp;<blockquote>再者，若消費者不會使用熱錢包、由廠商代建，會發生什麼事？</blockquote>更可怕的來了，廠商將掌握該錢包的「助記詞」、「私鑰」，擁有這兩者，任何人都能在任何地方存取該錢包的資產，且這兩者無法更改。換言之，小明在郵局租了一個保險箱、接著把備用鑰匙交給根本不熟的櫃員，簡直是傻了才這樣做，難保這個櫃員不會哪天缺錢就動歪腦筋。&nbsp;<blockquote>最後，NFT 竟然還不能自動顯示！</blockquote>Metamask 雖為市面上最多人使用的熱錢包，但其存在一致命缺點，那便是無法自動顯示 NFT，需要<a href="https://metamask.zendesk.com/hc/en-us/articles/360015489331-How-to-import-an-account">手動匯入資訊</a>、才能讓其正確顯示。這就好比小明買了一個大同電鍋，卻得自己從頭組裝所有零件才能使用，何其不便！<figure class="image"><img src="https://cdn-images-1.medium.com/max/1436/1*suvTDAy62GP773AIJz2rDw.png"></figure>此狀況同樣在 TOYOTA 的 <a href="https://www.bnext.com.tw/article/71345/toyota-nft">Garage 86 NFT 活動</a>、<a href="https://www.bnext.com.tw/article/68381/asmeir-nft?">阿妹的 ASMR 演唱會</a>中發生，用戶必須先有錢包才能參與活動、領取 NFT，對非幣圈小白而言根本難如登天。（阿妹的 NFT 甚在粉絲申請後，需要 1~2 周才會發放至對應錢包，無法及時到貨）縱使有些廠商會暫時以客服人員因應，但如果消費者有上千、甚至上萬人呢？客服中心難道要直接原地解散嗎？當然不可能，但這就形同讓該 NFT 行銷活動的發行成本暴增。讓我們再回頭看看下圖，便可知其何等矛盾。&nbsp;<figure class="image"><img src="https://cdn-images-1.medium.com/max/1436/0*PZxm76uL9xiHhPvP"></figure><h4>&nbsp;</h4><h4>體驗不佳、無法擴展，就是 NFT&nbsp;的發行痛點</h4>讓我們再觀現有的 NFT 發行有什麼特徵，那就是僅限於經營現有的會員、而非用於拓展陌生客群。阿妹的 ASMR NFT 是為了獎勵來參與演唱會的「歌迷」、鎮瀾宮則是為了賦能「信眾」，此舉並無法打到忠誠粉絲以外的人，從而使得 NFT 行銷效益受限。例如，商務族群便可能對鎮瀾宮的媽祖 NFT 毫無興趣，即使品牌苦心經營、打出知名度也沒用。NFT 不應只是小眾樂趣、它能成為所有人都慣用的媒介。試想，若今天鎮瀾宮將 NFT 的領取做成一個 QR-Code，放在台鐵、客運、甚至捷運系統上曝光，只要乘客用手機掃瞄、就可瞬間領到 NFT。那鎮瀾宮就不會只是賺一次性的收入，而是能持續地投放賦能、廣告給這些持有者，比方說鎮瀾宮的相關贈品、祈福小物等，讓其認識鎮瀾宮、甚至前往一訪，帶動捐款、周邊消費，綜合下來的經濟潛力更大，從而讓單次的發行成本槓桿出更大效益。<h3>真正優秀的 NFT Solution 應該具備什麼特色？</h3>從上方所整理，我們可知，若品牌想發行 NFT，深度經營會員、甚至是觸及陌生客群，讓 NFT 的「到貨流程」簡單易用，才是唯一解。否則就算是學習動機較強者，也可能因門檻過高而打退堂鼓。一個好的 NFT 發行方式，應該兼具以下兩大點：<ul><li>到貨流程簡單易用（自動化、門檻低、無教學成本、最好及時到貨）</li><li>可接觸到陌生客群（拓展業務、帶來更高效益）</li></ul><figure class="image"><img src="https://cdn-images-1.medium.com/max/1436/1*bfebbBwK8gmTiiwvImXcZQ.png"></figure><h3>&nbsp;</h3><h3>KryptoGO 首創「電話空投」，領 NFT 比抽衛生紙還簡單！</h3>那麼，究竟有沒有符合上述兩點，簡便易用、效益又高的 NFT 發行方案呢？有的！<a href="https://www.kryptogo.com/tw/products/wallet">KryptoGO</a> 正是這樣的存在，其首創「電話鑰匙圈」概念，將人們熟悉的電話號碼作為媒介，協助品牌／使用者輕鬆進入 Web3。只要有手機號碼，KryptoGO 就能做到：<ul><li>用戶在 10 秒內擁有熱錢包（Metamask 至少要 1~3 分鐘，且操作流程複雜）</li><li>協助品牌輕鬆空投／用戶領取 NFT，不須事先註冊、下載錢包就能辦到！</li></ul>&nbsp;實際案例拆解讓我們再次以鎮瀾宮的<a href="https://mazudao.io/">媽祖到 NFT</a> 為例，比對既有流程和導入 KryptoGO 後的差別：<ul><li>消滅進入門檻：用戶不需要事先準備熱錢包、廠商無須代建</li><li>即時自動發貨：立刻派發 NFT、並透過電話號碼進行空投，無須蒐集錢包地址</li><li>自動顯示 NFT：無須任何操作知識，即可自動展示 NFT</li></ul>KryptoGO 錢包也內建賦能兌換系統，持有者無須跳轉至其他網站、工具，即可在 App 中一站搞定；KryptoGO 也允許品牌自行管理賦能品項／期限／兌換次數等資訊。可以說，KryptoGO 同時優化了 NFT 的「送貨流程」、「商品使用」、「庫存管理」等面向，不管對品牌還是消費者而言，都是最佳的 NFT 解決方案。&nbsp;<figure class="image"><img src="https://cdn-images-1.medium.com/max/1436/1*DEmEYVNWc8587YZOsSxD4A.png"></figure>坐而言不如起而行：掃碼體驗電話光速空投！說得再多，終究比不上實際體驗，不管你是品牌方／還是尋求易用 NFT 載體的用戶，都可以直接掃描下方的 QR-Code，領取 KryptoGO 的電話空投 NFT「KryptoGO Yacht Club」，體驗在 30 秒內獲得 NFT 的威力！<figure class="image"><img src="https://cdn-images-1.medium.com/max/1436/0*aZ2tKkvaOKQ5tpc9"></figure>領取 NFT 之後，你想必已經感受到 KryptoGO 如何簡化、優化品牌／用戶的 NFT 體驗，還在苦苦搜尋 NFT 發行／賦能品項管理／提升用戶 Web3 體驗的最佳解決方案嗎？趕緊聯絡 <a href="https://www.kryptogo.com/tw/contact/sales">KryptoGO</a>，透過 NFT 玩轉你的 Web3 業務吧！&nbsp;＃NFT ＃發行成本 ＃發行流程 ＃輕鬆拿延伸閱讀：<ol><li><a href="https://medium.com/kryptogo/nft-%E5%8F%AA%E8%83%BD%E6%8B%BF%E4%BE%86%E8%B2%B7%E8%B3%A3-%E5%BE%9E%E7%84%A1%E8%81%8A%E7%8C%BF%E7%9C%8B-%E8%B3%A6%E8%83%BD-%E7%9A%84%E7%84%A1%E7%AA%AE%E6%BD%9B%E5%8A%9B-457cfe9bec3e?source=collection_home---4------3-----------------------">NFT 只能拿來買賣？從無聊猿看 「賦能」的無窮潛力</a></li><li><a href="https://medium.com/kryptogo/nft-%E6%AD%A3%E6%94%B9%E8%AE%8A%E7%A4%BE%E7%BE%A4%E7%9A%84%E8%A1%8C%E9%8A%B7%E6%A8%A3%E8%B2%8C-e67d35022f03?source=collection_home---4------6-----------------------">NFT 正改變社群的行銷樣貌</a></li><li><a href="https://medium.com/kryptogo/%E5%A6%82%E4%BD%95%E8%9E%8D%E5%90%88%E7%B7%9A%E4%B8%8A%E8%88%87%E7%B7%9A%E4%B8%8B%E5%A0%B4%E6%99%AF-%E8%AB%87-nft-%E6%93%81%E6%9C%89%E6%AC%8A%E9%A9%97%E8%AD%89-1644b1b0b738?source=collection_home---4------7-----------------------">從元宇宙走入你的現實人生 — 談 NFT 身份象徵與所有權驗證</a></li></ol>

NFT 不應複雜難領，消費者最好什麼都不用做、它就自動到貨

品牌想發 NFT，卻被抱怨太難領？從「發行流程」看懂行銷痛點為何

Wanting to issue NFT but is complained about the difficult procedure? —Find out what the marketing pain points are from the “distribution process”

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This week, we're delivering some big architectural changes. Introducing: The Multiple Multi-wallet Update.

Biweekly Dev Update: August 31th, 2022

<blockquote>Not Your Keys, Not Your Coins. It’s That Simple.</blockquote>Never share your private key!When the private key isn’t yours, then the coin will no longer be yours. This is the most important concept before possessing crypto assets.<h1 style="margin-left:0cm;">What does “wallet” refer to?</h1>A wallet is what makes your private key (the password that gives you access to your cryptocurrency) secure and accessible.Unlike regular wallets that hold actual cash, we usually refer wallets in blockchain as “crypto wallets”. This wallet doesn’t store crypto assets directly, but rather access crypto assets that exist on the blockchain through a private key. The private key is what proves that you own the corresponding cryptocurrency and allows transactions to take place. If you lose your private key, you will not be able to access your funds, which is why it is so important to know how to keep your private key safe.Wallets allow us to send and receive cryptocurrency in a variety of forms, from hardware wallets like Ledger (which looks like a USB) to applications like KryptoGO Wallet, as follows:1 Paper: The secret key is written on a physical medium such as paper and stored in a secure location.2 Hardware (card, USB): The private key is stored in the hardware and connected to the computer and network only when sending or receiving cryptocurrency.3 Software: The private key is stored in an APP or browser plug-in.<blockquote>Deciding how to store encrypted assets is an important decision. Therefore, understanding the type of wallets is necessary for choosing which wallet works best for us. (these 3 forms above are usually non-custodial wallet presentations.)</blockquote><h1 style="margin-left:0cm;">Non-Custodial Wallet</h1>Using a non-custodial wallet means you are fully responsible for the private key, seed phrase, and funds. Because a third party trust is not needed in non-custodial wallets, you must protect your private key and find a strong password after creating a wallet.Most non-custodial wallets are browser-based or mobile apps like KryptoGO Wallet, a type of wallet also known as a hot wallet. On the other hand, there are cold wallets like the Ledger Nano, which are USB-like wallets that store your private keys offline.The downside to non-custodial wallets is that if you lose your seed phrase, forget your password, or somehow can't access your wallet, you won't be able to recover your wallet and therefore can't access your funds anymore.Non-custodial wallets play an indispensable role in enabling a completely decentralized world, but can be difficult for the newbies. Therefore, when using a non-custodial wallet, make sure you have multiple backups of your seed phrases and passwords, and that no one but yourself knows about them.<h1 style="margin-left:0cm;">Custodial Wallet</h1>If you have previously been to a centralized exchange, this means that you have used a custodian wallet. In this case, the centralized exchange acts as a custodian and holds your funds, private keys, and seed phrases. However, this also means that the exchange can do whatever it wants with the funds (you must choose your exchange carefully), and the concentration of funds is often vulnerable to hacking attacks. In addition, centralized exchanges also offer escrow services for institutional clients, such as Coinbase Custody.<h1 style="margin-left:0cm;">Conclusion</h1>Non-custodial wallets give you full responsibility for private keys, seed phrases, and funds. Custodial wallets, on the other hand, hold funds, private keys, and seed phrases for you.When you use a custodial wallet, you must trust the third party. Conversely, when using a non-custodial wallet, you must protect your key, seed phrase, and password.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/noncustodial_vs_custodial_fdf081a0ad/noncustodial_vs_custodial_fdf081a0ad.png" alt="noncustodial vs custodial.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_noncustodial_vs_custodial_fdf081a0ad/thumbnail_noncustodial_vs_custodial_fdf081a0ad.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_noncustodial_vs_custodial_fdf081a0ad/small_noncustodial_vs_custodial_fdf081a0ad.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_noncustodial_vs_custodial_fdf081a0ad/medium_noncustodial_vs_custodial_fdf081a0ad.png 750w," sizes="100vw">The comparison table of non-custodial &amp; custodial wallet

noncustodial vs custodial.png

Deciding how to store encrypted assets is an important decision. Therefore, understanding the type of wallets is necessary for choosing which wallet works best for us. 

<blockquote>Not Your Keys, Not Your Coins. It’s That Simple.</blockquote>永遠不要分享你的私鑰！當私鑰不是自己保管的，那麼幣就不是自己的，這是每個人要持有加密資產前最重要的觀念。<h1 style="margin-left:0px;">錢包指的是什麼？</h1>錢包讓您的私鑰（讓您訪問加密貨幣的密碼）安全且可訪問，與可以存放實際現金的普通錢包不同，區塊鏈中我們指的錢包通常為「加密錢包」，其實際上不直接存儲加密資產，而是透過私鑰訪問存在區塊鏈的加密資產。私鑰才能證明自己擁有對應的加密貨幣，並允許進行交易。丟了私鑰，將無法動用資金，這就是為什麼保管私鑰非常重要的原因。錢包讓我們可以發送和接收加密貨幣，有多種形式，從 Ledger（看起來像 USB）之類的硬體錢包到 KryptoGO Wallet 之類的應用程式，如下：<ol><li>紙：密鑰寫在紙等物理介質上，並存放在安全的地方。</li><li>硬體（卡片、USB）：私鑰儲存於硬體中，僅在收發加密貨幣時才連到電腦與網路。</li><li>軟體：私鑰儲存在 APP 或是瀏覽器插件中。</li></ol><blockquote>決定如何保存加密資產是一個大問題，這時候我們就必須決定使用了解錢包的類型，來選擇最適合我們的錢包（上述的這三種形式通常是非託管錢包的呈現形式。）。</blockquote><h1 style="margin-left:0px;">非託管錢包</h1>使用非託管錢包代表你要自行全面負責私鑰（Private Key）、種子短語（Seed Phrase）和資金。由於非託管錢包，不必信任第三方。創建錢包後，必須保護你的私鑰並找到一個強密碼才能使用非託管錢包。大多數非託管錢包是基於瀏覽器的或像 KryptoGO Wallet 這樣的手機 APP，這種類型的錢包也稱為熱錢包。另一方面，有像 Ledger Nano 這樣的冷錢包，它們是像 USB 一樣的錢包，可以離線存儲你的私鑰。非託管錢包的缺點是，如果你丟失了種子短語、忘記了密碼或以某種方式無法訪問您的錢包，你將無法恢復您的錢包，因此無法再動用資金。非託管錢包在實現完全去中心化的世界方面發揮著不可或缺的作用，但對於新手來說可能很難。使用託管錢包的時候，記得確保您有多個種子短語和密碼的備份，並且確保除了自己之外沒有人知道。<h1 style="margin-left:0px;">託管錢包</h1>如果之前使用過中心化交易所，則意味著您之前已經使用過了託管錢包。在這種情況下，中心化交易所作為託管人，保管了你的資金、私鑰、和種子短語。不過這也意味著交易所可以隨心所欲地動用這些資金（因此得慎選交易所），資金的集中通常也容易引來駭客的攻擊。此外，中心化交易所也為機構客戶提供託管服務，例如： Coinbase Custody。<h1 style="margin-left:0px;">結論</h1>非託管錢包讓你對私鑰、種子短語和資金承擔全部責任。另一方面，託管錢包為您保存資金、私鑰和種子短語。當您使用託管錢包時，您必須信任第三方。相反，在使用非託管錢包時，您必須保護您的密鑰、種子短語和密碼。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*9knZIQvospre8j11hW54Rw.png" alt="" loading="lazy">兩者的比較 &nbsp;

錢包的兩大類型：託管與非託管 — 沒有私鑰就不算真正擁有加密資產


Crypto Wallets: Custodial vs. Non-Custodial Wallets

Since virtual currency can exchange value with physical commodity and financial markets, a lot of discussions and applications have been developed. However, the technology behind blockchain and cryptocurrency has a higher entry threshold than the value exchange system evolved in human history in the past. Under the premise that it’s hard for most people to understand, there are endless cases of cryptocurrency being illegally used by intentional people. For example, recently, an American oil company was demanded to pay bitcoin ransom by hackers, or the Ponzi scheme of virtual currency (requiring investors to pay fees and get paid by recruiting new distributors), obliterating well-intentioned supporters and legitimate service provision.As virtual assets are difficult to recognize but easily adopted by criminal organizations, FATF has issued relevant norms and guidelines requiring countries to include virtual assets in anti-money laundering supervision of financial systems since June 2020, and has then officially implemented its audit against member countries.<h1>Taiwan issues corresponding laws and regulations on FATF norms</h1>Although Taiwan is a non-member country with the hundreds rest of other countries, not abiding by the same regulations would mean taking risks of being rejected in the international financial system. Therefore, on May 25 this year, the FSC announced the draft "Regulations Governing Anti-Money Laundering and Countering the Financing of Terrorism for Enterprises Handling Virtual Currency Platform or Transaction", which requires five major types of virtual trading businesses to be regulated by the Anti-Money Laundering Act starting from July 1, 2021.In accordance with Article 154(1) of the Administrative Procedures Act and Article 5(2) of the Anti-Money Laundering Act, the provisions of Article 6(3), Article 7(4), Article 8(3), Article 9(3), Article 10(3) and Article 7(5) of the Anti-Information Terrorism Act, the FSC invited relevant ministries and industry representatives to discuss the draft and issued&nbsp;<a href="https://www.fsc.gov.tw/ch/home.jsp?id=133&amp;parentpath=0,3&amp;mcustomize=lawnotice_view.jsp&amp;dataserno=202106020001&amp;dtable=NoticeLaw">a notice of the draft&nbsp;</a>on 2021/06/02 coinciding with the effective date of the Executive Yuan's designation of the virtual trading platform and trading business scope. The full report can be&nbsp;<a href="https://www.fatf-gafi.org/publications/mutualevaluations/documents/4th-round-procedures.html">downloaded here.</a><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/2022_08_23_10_49_35_4e5ab9f784/2022_08_23_10_49_35_4e5ab9f784.png" alt="截圖 2022-08-23 上午10.49.35.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_2022_08_23_10_49_35_4e5ab9f784/thumbnail_2022_08_23_10_49_35_4e5ab9f784.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_2022_08_23_10_49_35_4e5ab9f784/small_2022_08_23_10_49_35_4e5ab9f784.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_2022_08_23_10_49_35_4e5ab9f784/medium_2022_08_23_10_49_35_4e5ab9f784.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_2022_08_23_10_49_35_4e5ab9f784/large_2022_08_23_10_49_35_4e5ab9f784.png 1000w," sizes="100vw">According to the Executive Yuan's declaration dated April 6 this year, the "Virtual Exchange Platform and Trading Business" (VASP) includes:1&nbsp;The exchange of virtual currency between TWD, foreign currencies and currencies issued in Mainland China, Hong Kong or Macau.2 Exchanges of virtual currency.3 Transfers of virtual currency.4 Maintaining, managing or providing management tools for virtual currency.5 Participate in and provide financial services related to the issuance or sale of virtual currency.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/sdasaw_0748f02ae2/sdasaw_0748f02ae2.png" alt="sdasaw.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_sdasaw_0748f02ae2/thumbnail_sdasaw_0748f02ae2.png 239w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_sdasaw_0748f02ae2/small_sdasaw_0748f02ae2.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_sdasaw_0748f02ae2/medium_sdasaw_0748f02ae2.png 750w," sizes="100vw">Among the 18 draft articles of the FATF, all should be complied starting from July 1st&nbsp;except for Article 7, which has been delayed due to difficulties in implementing the real-name system for cross-border platforms. Regulatory restrictions should be enforced on the establishment of an internal control and audit system for money laundering prevention, customer identification, transaction record keeping, reporting of transactions over a certain amount, and reporting of suspected money laundering or information terrorism transactions, etc.<h1>Coverage and Impact of the Act</h1>In addition to the common fiat and virtual currency exchanges and crypto exchanges, the regulation will also cover certain service providers that assist in the transfer of virtual assets or virtual currency mixer, as well as software and hardware providers that provide virtual asset-related custody services or tools, or financial service providers related to ICOs and IEOs. The amount of manpower and time consumption troubles financial institutions every year in meeting the CDD and AML regualtions, not to mention the great challenges for most VASPs to meet the requirement. As of now, some service providers are known to be ending some of their services on June 30, but it remains to be seen whether this will be temporary or permanent. However, it is obvious that the implementation of laws and regulations will have an impact on some operators.<h1>How KryptoGO Helps VASPs Meet Regulations</h1>In continuous pursuant on efficient and cost-effective compliance solution for financial institutions, KryptoGO has an one-stop search engine for customer due diligence. While KryptoGO has focused its product development on the needs of traditional financial institutions, they now offer a KYABC (Know your Address, Business, and Customer) solution to address the tight schedule in compliance with VASPs. The solution utilizes rtificial intelligence in machine learning to match customer information, eliminating 95% of virtual asset traders without criminal risk.In the past, enterprises had to search through multiple databases and then cross-match the search results manually to determine whether they were the target of scrutiny, which was a tedious and time-consuming process. Through the customer due diligence search engine, enterprises inputs basic information of customers, and the system automatically scans a large database of international sanctions lists, negative news, etc., and generates risk reports for further risk assessment and decision making. The automated solutions has proven to save over 80% of operational costs, and effectively filters out up to 95% of irrelevant risk information on the target.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/sfdadgre_da5683a589/sfdadgre_da5683a589.png" alt="sfdadgre.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_sfdadgre_da5683a589/thumbnail_sfdadgre_da5683a589.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_sfdadgre_da5683a589/small_sfdadgre_da5683a589.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_sfdadgre_da5683a589/medium_sfdadgre_da5683a589.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_sfdadgre_da5683a589/large_sfdadgre_da5683a589.png 1000w," sizes="100vw">KryptoGO understands the difficulties faced by the virtual assets service industry under the upcoming regulations. In the area of customer screening, the due diligence search engine performs 99.9% of the screening, but the final step is still required to be performed by enterprises to confirm the customer's identity according to the international money laundering control laws.<h2>Why are we reliable?</h2>In 2020, KryptoGO won awards in the "2020 International Supervision Technology Hackathon" competition co-directed by the FSC, FSA, and CPSC, under the themes of eKYC and Real-time Market Supervision, as well as POC (Proof of Concept) awards from three financial institutions, making it the most awarded national startup in the competition. More important than the awards, however, was the fact that KryptoGO's product solution passed the regulatory compliance checkpoint set by the organizers during the competition: 1. proving the compliance of the application itself and achieving market validation; 2. confirming the accuracy of the solution to address potential customer pain points.At this point in time, the KryptoGO Compliance solution has been adopted by 25 branches of MegaBank in 12 countries around the world, and vigorously seeks for implementation in financial institutions. In the face of increasingly stringent financial regulatory, KryptoGO is ready to be the number one gatekeeper for organizations.<h1>Common Questions about the “VASP Anti-Money Laundering and Anti-Financing Measures” issued by the FSC</h1><h2>What is VASP?</h2>The full name of VASP is “Virtual Asset Service Provider”, which is a new industry category of FATF for virtual currency.<h2>Do we need KYC even if we have no contact with fiat currency?</h2>According to the Money Laundering Control Act, those who exchanges fiat currency for another person is classified as a virtual platform and trading business and is required to take appropriate anti-money laundering measures, including Know Your Customer (KYC).<a href="https://www.kryptogo.com/blog/always-being-a-concern-in-the-bank-get-to-know-kyc-in-5-minutes">Always being a concern in the bank? Get to know “KYC” in 5 minutes - KryptoGO Blog</a><h2>What do I need to do to comply with the Virtual Money Laundering Regulation on July 1st ?</h2>According to the draft on June 2nd , operators are required to at least perform customer identification, ongoing review, record keeping, ongoing monitoring of transactions, suspicious transaction reporting, implement internal controls and audits, and conduct periodic money laundering risk assessments.<h2>Does the draft need to be fully compliant by 07/01?</h2>Considering article 7 of the Travel Rule on virtual transfer of goods is subject to international implementation, and the competent authority will set another implementation date.In consideration of Article 7 in the Travel Rules concerning the transfer of virtual currency, It should be subject to the international implementation situation, then the competent authority shall determine another implementation date.Except for the Travel Rule, all of them will be implemented from 07/01.<a href="https://www.kryptogo.com/blog/top-3-challenges-in-regulatory-implementation-for-the-travel-rule">Top 3 Challenges in Regulatory Implementation for the Travel Rule - KryptoGO Blog</a><h2>How will the regulatory authorities check? Are there any standards that can be followed?</h2>We may conduct audits on a risk-based basis at any time, including on-site and off-site audits, and may designate or request the industry to appoint specialized professional and technical personnel to conduct audits of the industry's anti-money laundering and anti-counterfeiting activities and submit reports to us at the expense of the subject of the audits. We may order the industry to provide us with books, documents, electronic data files or other information related to anti-money laundering and anti-counterfeiting activities for the purpose of such audits. The foregoing information shall be stored in any form, whether in paper, electronic files, e-mail or any other form, and shall not avoid, deny or hinder access for any reasons.The audit may be conducted at any time, using a "risk-based approach" with no SOPs or quantitative standards.<h2>What information do I need to collect in order to confirm the customer’s identity?</h2>There is no certain standard. The more comprehensive the KYC information with the customer, the better, such as: full name, address, citizenship, date of birth, government issued photo ID, social security number, tax ID, bank statements, utility bills and bank card photos. Not only does this ensure compliance with BSA and FATF Recommendation 16, but it is also critical for law enforcement agencies investigating crimes such as money laundering, terrorist financing, drug trafficking and distribution of child abuse materials.Balancing between user experience and compliance is an art.<h2>How do we determine if we need an advanced program?</h2>There is no limit to the number of uses of the standard solution, but there is no API and the scope of data is limited to Taiwan. Therefore, if you are considering to interface with an internal system and have a customer base that is not limited to Taiwan, an advanced solution is recommended.<h2>If there is no API, do we need to hire someone to review it?</h2>Article 7 of the <a href="https://law.banking.gov.tw/Chi/FLAW/FLAWDAT01.aspx?lsid=FL085298">Anti-Money Laundering Measures for Financial Institutions</a>: Financial institutions should conduct their own customer identification operations. If a financial institution is required by law or by our association to rely on a third party to identify and verify the identity of the customer, the identity of the agent, the identity of the beneficial owner, or the purpose and nature of the business relationship, the financial institution relying on the third party should still be ultimately responsible for confirming the identity of the customer.KryptoGO does its best to complete 99.9% of the customer screening process, but regardless of whether there is an API or not, a final step to confirm the identity of the customer is required. The international anti-money laundering control laws stipulate that there is no way to transfer criminal responsibility to a third party.<h2>After buying the system, can you comply? Do I need to do anything else?</h2>Our due diligence engine will provide objective and neutral due diligence results based on publicly available information, and quickly provide search results with high accuracy and low false positive rate under the sufficiently wide data coverage. As for the acceptance of clients, it depends on internal processes and regulations, which can refer to our anti-money laundering consulting services.<h2>What is the KYABC scenario? Can you give me an example?</h2>We understand the pain points of VASPs and offer a one-stop regulatory solution that can be applied to the review of virtual money transfers as well as the name matching functionality of the traditional AML process, including the Travel Rule real name transfer regulation.<h2>How much does it cost to upgrade during the subscription period of the standard solution?</h2>We charge the cost of the advanced plan minus the amount corresponding to the remaining standard plan subscription period, without any upgrade or migration process.<h2>Are there any special offers for VASP?</h2>For VASP we offer a one-year, $100,000 total solution "System + Service" that includes 20 hours of CAMS consulting and one year of unlimited online consulting. The CAMS Anti-Money Laundering Firm will ensure full compliance. You will receive an one month unlimited online counseling if you pay by July 1st. (The service includes CAMS' assistance in setting up internal KYC/AML management processes, staff training, and assisting companies to thoroughly implement money laundering prevention and counter-terrorism from the inside out.)<h1>Read more…</h1><ul><li><a href="https://www.kryptogo.com/blog/always-being-a-concern-in-the-bank-get-to-know-kyc-in-5-minutes">Always being a concern in the bank? Get to know “KYC” in 5 minutes</a></li><li><a href="https://www.kryptogo.com/blog/the-difference-between-kyc-and-aml">The difference between KYC &amp; AML?&nbsp;</a></li><li><a href="https://www.kryptogo.com/blog/fiat-to-virtual-currency-a-focus-on-transaction-monitoring">Different transaction monitoring mechanism between Fiat and Crypto</a></li><li><a href="https://www.kryptogo.com/blog/fatf-methodology-with-the-rapid-development-of-virtual-assets">FATF Methodology with the Rapid Development of Virtual Assets</a></li><li><a href="https://www.kryptogo.com/blog/how-to-regulate-virtual-assets-about-fatf-travel-rule-recommendations">How to regulate virtual assets? –about FATF Travel Rule recommendations</a></li><li><a href="https://www.kryptogo.com/blog/top-3-challenges-in-regulatory-implementation-for-the-travel-rule">Top 3 Challenges in Regulatory Implementation for the Travel Rule</a></li></ul>

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As virtual assets are difficult to recognize but easily adopted by criminal organizations, FATF has issued relevant norms and guidelines requiring countries to include virtual assets in anti-money laundering supervision of financial systems since June 2020, and has then officially implemented its audit against member countries.

All You Need to Know About VASP FATF

Hey guys! We’ll keep this week super short, for most of the work we’ve been tirelessly doing are under the hood, including:<ul><li>app architecture changes,</li><li>backend development,</li><li>database migration and maintenance,</li><li>making sure data syncs between local devices and the cloud, and</li><li>improved error logging so we can catch bugs and solve your problems quicker and more efficiently.</li></ul>We won’t bore you with the technical details (developer and engineer talk, yada yada). It sounds like less exciting work, perhaps, but it paves the way for robust and secure software, and at KryptoGO, protecting your on chain assets is our top priority.Two other things that deserves a mention:<ol><li>It is now possible to redirect to the wallet’s DApp Broswer from another browser (e.g. Safari, Chrome). Just click “Share Link”, and choose KryptoGO Wallet.</li><li>Our one-click DeFi functionality is currently under maintenance. We will get it back online soon, but meanwhile, you can manage (stake/unstake) your DeFi assets by navigating to <a href="https://pancakeswap.finance/">PancakeSwap</a> in the DApp Browser.</li></ol><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*g70FEodW9AmP5tTTHWTKnQ.jpeg" alt="" loading="lazy">We’ll be back in a couple of weeks time to announce the big update we’ve been preparing for. Here’s a hint: What’s better than having a multi-chain wallet? In the meantime, let us know what you think via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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We'll keep this week short, for most of the work we've been doing are under the hood in preparation for our next big update.

Biweekly Dev Update: August 17th, 2022

<blockquote>The Taiwan-based financial technology startup will use the funds to boost its product development, expand its team and enter new markets</blockquote>Taiwan-based regulatory technology (RegTech) developer and non-custodian (DeFi/NFT) wallet provider KryptoGO has raised a total of US$3 million in its recently concluded seed funding round. The round was participated by global venture capital firm Hive Ventures, alongside other VCs including Taiwan’s National Development Council, Red Building Capital, AVA Angels, New Economy Ventures, Hao Fong Investment and Pegatron Venture Capital. The funds will be utilized by KryptoGO to expand its market presence in the United States, in addition to growing its team and launching new product features later in the year.Founded in 2019, KryptoGO aims to empower financial institutions and individuals by establishing a more secure and transparent environment for managing crypto assets and decentralized applications (DApps) operating in the Web3 ecosystem. The company uses natural language processing technology equipped with a comprehensive global anti-money laundering database and artificial intelligence (AI) systems that enable cross-comparison of anti-money laundering data and other risky behavior.The company also recently launched its flagship KryptoGO Wallet, a decentralized cross-chain wallet with financial identity verification and DeFi asset management functionality. Leveraging the company’s unique cross-chain technology, the KryptoGO wallet ensures that its users can integrate and manage cross-chain assets on a single platform and identify favorable DeFi investment opportunities across a multitude of chains in DeFi, all while ensuring data security.The launch of the KryptoGO Wallet exemplifies the company’s commitment to raising data sharing capabilities among its users. As blockchains are created in protected ecosystems — with their own set of rules and consensus protocols — direct communication or token transaction between blockchains could <a href="https://101blockchains.com/blockchain-interoperability/">prove to be difficult</a>. However, the cross-chain technology present in the KryptoGO Wallet enables crypto tokens and information to be seamlessly shared across different blockchains, addressing any scaling limitations in the process.“Decentralised finance is gaining strong momentum in today’s financial ecosystem, but its digital complexities and growing ecosystem of chains and DApps have also shone a light on the need for a simple, unified and trusted gateway into the world of Web3 for Institutional and entry-level users alike,” said Kordan, CEO of KryptoGO. “This is where we come in. With secure, compliance-based technologies that are trusted by financial institutions, our users will enjoy a conducive environment where they can obtain, manage and grow their crypto portfolio, all while being in compliance with traditional and DeFi needs.”The KryptoGO wallet supports several lucrative cryptocurrency tokens such as Bitcoin (BTC), Ethereum (ETH), Binance Smart Chain (BSC), Solana (SOL), TRON, MATIC and more. Additionally, the wallet is embedded with quality security features that include Secure Enclave with Advanced Encryption Standard (AES) encryption as well as biometric and passcode identification mechanisms. This means that users can employ facial or touch recognition in accessing their wallets, providing a personalized user experience with optimal data protection. All multi-chain assets are managed simply by the phone number and are securely stored in the hardware storage <a href="https://support.apple.com/zh-tw/guide/security/sec59b0b31ff/web">guarded by the systems on chip (SoCs)</a>.Just in 2021, <a href="https://blog.chainalysis.com/reports/2022-defi-hacks/">approximately US$3.2 billion</a> worth of cryptocurrency was stolen by hackers, resulting in the emphasis on data security skyrocketing. To address these vulnerabilities, KryptoGO has implemented proactive and active approaches to user data security through its flagship mobile wallet and compliance-based platform.<blockquote>“In today’s digital world, it is critical that businesses and individuals find more efficient ways to access, track and secure their assets. In the realm of decentralized finance, this is even more pertinent as such financial assets have soared in monetary value over recent years. With informational transparency and data security being placed at the forefront of its technologies, we are impressed by KryptoGO’s exemplary track record in its flagship solutions, and we look forward to seeing their future developments within the RegTech and DeFi spaces,” said Yan Lee, Founding Partner, Hive Ventures.</blockquote>Hive Ventures’ funding into KryptoGO is the first investment in the blockchain space and the latest in a series of investments made by the venture capital firm, with many future investments to come. This aligns with the company’s mission to help early-stage businesses build a smart hyperconnected world through data and technology. To date, Hive Ventures has led the funding rounds of startups such as <a href="https://technode.global/2022/01/17/us-live-streaming-technology-firm-viewabo-raises-1-77m-in-seed-round-led-by-hive-ventures/">Viewabo</a> and <a href="https://e27.co/taiwan-roundup-canner-raises-us3-5m-pre-series-a-cooby-nets-us2-9m-funding-20220308/">Canner Data</a> which have contributed to the companies’ accelerated growth respectively.As the first blockchain company to receive both ISO/IEC 27001 and 27701 information certifications, KryptoGO also builds itself on maximized user security against financial data breaches. The company further emphasizes user-centricity in its products and solutions, primarily by providing users with the native experience of using a comprehensive mobile wallet to avoid the complexities of using multiple individual decentralized applications (DApp) browsers when addressing their DeFi needs.In addition to its current partnership efforts that saw <a href="https://finance.yahoo.com/news/worlds-1st-redeemable-nft-kryptogo-130000191.html">the launch of the NFT Lucky Bag</a> earlier this year, KryptoGO plans to expand its robust partnership and customer base to the United States, Japan and Southeast Asia through collaborations with ecosystem partners in these regions. Partners will range from NFT collections to GameFi projects and DeFi platforms — all with the aim of fostering greater socialization and a sense of community among KryptoGO wallet users.The company also aims to embed such social elements into the KryptoGO wallet’s features, potentially enabling users to interact and share information based on their crypto investments and NFT collectibles. Currently, the company is on its way to launching its first NFT GEM pass that will grant users access to premium features in the KryptoGO Wallet later this year.- END -<blockquote>About KryptoGO Inc.</blockquote><blockquote>KryptoGO is a regulatory technology (RegTech) company that helps virtual asset service providers (VASP) quickly identify high money-laundering risks with its due diligence engine built on top of AI and blockchain. By providing a one-stop compliance solution, the institutions can elevate the efficiency and accuracy of their KYC and risk screening processes. In the Global RegTech Challenge 2020, KryptoGO won five awards in total from 67 teams and 18 countries, and was selected by worldwide accelerators such as 500startups, PlugAndPlay, Microsoft Accelerator, UC Berkeley Xcelerator, Draper University and more. The company’s compliance solution is adopted by several financial institutions such as the Mega International Commercial Bank and serves in 13 countries and 25 oversea branches.</blockquote><blockquote>For more information, visit <a href="http://www.kryptogo.com">kryptogo.com</a></blockquote><blockquote>About Hive Ventures</blockquote><blockquote>Hive Ventures is a global venture capital firm committed to accelerating technological advancements from Taiwan to build a smarter, hyperconnected world. Led by a team of entrepreneurs with deep expertise in AI and big data, the firm invests in early-stage companies developing the building blocks of AI, SaaS, Blockchain and other future technologies, making it Taiwan’s leading fund focused on startups in these industries.</blockquote><blockquote>With an extensive global network and a strong entrepreneurial and technological background, Hive Ventures aims to raise the profile of Taiwanese-led startups and drive Made in Taiwan 2.0 internationally. It has a track record of backing companies that break data silos, accelerate development and enterprise collaborations/processes, and enhance Taiwan’s brand as the leading market in AI and SaaS innovations, including successful co-investments with other leading strategic and financial investors in the region.</blockquote><blockquote>For more information, visit <a href="http://www.hiveventures.io">www.hiveventures.io</a></blockquote>

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Taiwan-based regulatory technology (RegTech) developer and non-custodian (DeFi/NFT) wallet provider KryptoGO has raised a total of US$3 million in its recently concluded seed funding round. The round was participated by global venture capital firm Hive Ventures, alongside other VCs including Taiwan's National Development Council, Red Building Capital, AVA Angels, New Economy Ventures, Hao Fong Investment and Pegatron Venture Capital. The funds will be utilized by KryptoGO to expand its market presence in the United States, in addition to growing its team and launching new product features later in the year.

Taiwan-based KryptoGO Secures US$3M in Seed Funding

Hey friends. We’re back with another biweekly update, detailing the most important changes that happened in the past couple of weeks.August! The summer heat brings with it its fair share of insectile activity, but in the meantime, we’re doing our best to keep those bugs out of our wallet.<ul><li>Fixed a bug where certain NFTs were unable to be listed for sale on Opensea through our DApp Browser.</li><li>Fixed a bug where certain NFTs, though listed for sale, were shown in the wallet as not.</li><li>Fixed a bug where certain NFT images were not showing up correctly.</li><li>Fixed a bug where users would see an alert saying wallet connection failed, where in reality it succeeded (e.g., when connecting to the <a href="https://x2y2.io/">X2Y2 Marketplace</a>).</li><li>Fixed a bug where some Android users were unable to connect their wallet in the DApp Browser.</li><li>Tentatively fixed a bug where users on the Android 9 operating system may see a blank screen instead of the Home screen. If this still occurs, please let us know!</li><li>Removed the “Back to previous screen” button for certain screens that should not allow the option.</li><li>The wallet address can now be copied to the clipboard in the Send screen by clicking on the address field.</li></ul>As per our promise to respect users’ data privacy as well as adhere to App Store regulations, users now have the option to delete their KryptoGO Wallet account and any data associated with it in the app. You can find the option in Account &gt; Settings &gt; Manage Account &gt; Delete My Account. Be advised that if you delete your account, KryptoGO will have no way to recover your account nor the wallets associated with it. All your on-chain assets will only be accessible if you know your seed phrases and/or private keys to your wallets.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*N4JHPu8n0lPZivBt8utj1Q.jpeg" alt="" loading="lazy">Account &gt; Settings &gt; Manage Account &gt; Delete My AccountOf course, we hope that very few people (or none at all) will be deleting their accounts 🥺, and we will always strive to listen to your feedback and make our product better. We’ll keep it short for this week, but hang on tight for some bigger changes coming Very Soon™:) As always, let us know what you think via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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What's new this week? Keeping bugs out of our wallet despite the summer heat, and the option to delete your account, among other things.

Biweekly Dev Update: August 3rd, 2022

The Financial Action Task Force (FATF) was established in 1989 by Group of Seven (G-7) and is the global authority regulating Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT).Blockchain, bitcoin, crypto assets, virtual currencies ...&nbsp;a whole new vocabulary describing innovative technology to swiftly transfer value around the world. The fast-evolving blockchain and distributed ledger technologies have the potential to radically change the financial landscape. But, their speed, global reach and above all anonymity also attract those who want to escape authorities’ scrutiny.&nbsp;Blockchain originated just over 10 years ago. Since then, virtual assets have become widely available and have started to be used as payment products. However, without established regulation and oversight, the sector is often still referred to as the “wild west” of the finance industry.<h1>How can criminals misuse virtual assets?</h1>In 2017, the “Wannacry” ransomware attack held thousands of computer systems hostage until the victims paid hackers a ransom in bitcoin. This attack resulted in an estimated USD 8 billion in damages to hospitals, banks and businesses all around the world. Other ransomware attacks have happened since and appear to be on the rise.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1234_3288393aa2/1234_3288393aa2.png" alt="1234.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1234_3288393aa2/thumbnail_1234_3288393aa2.png 226w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1234_3288393aa2/small_1234_3288393aa2.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1234_3288393aa2/medium_1234_3288393aa2.png 750w," sizes="100vw">Source：<a href="https://www.fatf-gafi.org/publications/virtualassets/documents/virtual-assets.html?hf=10&amp;b=0&amp;s=desc(fatf_releasedate)">https://www.fatf-gafi.org/publications/virtualassets/documents/virtual-assets.html?hf=10&amp;b=0&amp;s=desc(fatf_releasedate)</a><h1>FATF Focus on Virtual Assets since 2019</h1>Virtual assets have many potential benefits. They could make payments easier, faster, and cheaper; and provide alternative methods for those without access to regular financial products.Nevertheless, without proper regulation, they would risk becoming a virtual safe haven for the financial transactions of criminals and terrorists. The FATF has been closely monitoring the developments in the crypto space and in recent years has seen the first countries start to regulate the virtual asset sector, while others have prohibited virtual assets altogether. However, as yet, the majority of countries have not taken any action. These gaps in the global regulatory system have created significant loopholes for criminals and terrorists to abuse.With support from the G20, the FATF has issued global, binding standards to prevent the misuse of virtual assets for money laundering and terrorist financing. The term “virtual asset” above refers to any digital representation of value that can be digitally traded, transferred or used for payment. It does not include the digital representation of fiat currencies.<blockquote>“While crypto-assets do not pose a threat to global financial stability at this point, we are closely monitoring developments and remain vigilant to existing and emerging risks.”&nbsp;</blockquote>—G20 learders, in the Osaka Summit in June 9th, 2019Effective implementation of these standards globally in all countries will ensure that virtual asset technologies and businesses can continue to develop and innovate in a responsible manner, and will create a level playing field.<h1>Where does the supervision take place?</h1>Traditional banks that have physical headquarters and client bases near their offices.Virtual asset service providers often have a global presence and customer base.So where do these standards apply and who should be regulating them?Regardless of where the server is located and where it operates, the country/region in which the virtual asset service provider is registered as a company is its primary regulator.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/234_1d2aebd957/234_1d2aebd957.png" alt="234.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_234_1d2aebd957/thumbnail_234_1d2aebd957.png 205w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_234_1d2aebd957/small_234_1d2aebd957.png 500w," sizes="100vw"><h1>Building a Partnership of regulating</h1>Regulating virtual assets service providers is challenging for everyone. National authorities need to develop skills to understand the technology involved, while the virtual asset service providers have to learn about the financial rules that now apply to their sector.&nbsp;It is up to the sector itself to develop the technology to meet the FATF’s requirements, particularly when it comes to securely collecting and transmitting originator and beneficiary information.&nbsp;To help governments and the industry itself, the FATF has developed a risk-based approach guidance with significant input from the sector itself. The guidance explains how to understand the risks, how to license and register the sector, and what the sectors needs to do to know who their customers are, store this information securely and detect and report suspicious transactions.<ul><li><a href="https://www.fatf-gafi.org/publications/fatfrecommendations/documents/guidance-rba-virtual-assets.html">FATF Guidance for a Risk-Based Virtual Assets and Virtual Asset Service Providers</a></li></ul>The FATF has engaged intensively with the virtual asset service provider sector to build a partnership between governments and the sector and better understand the issues and risks involved, including by hosting annual fintech/regtech forums since 2017.&nbsp;Through its Contact Group, the FATF continues to further explain the FATF’s requirements to the industry and to monitor developments and understand how the industry is meeting the various challenges.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/12345_e76f556e10/12345_e76f556e10.png" alt="12345.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_12345_e76f556e10/thumbnail_12345_e76f556e10.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_12345_e76f556e10/small_12345_e76f556e10.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_12345_e76f556e10/medium_12345_e76f556e10.png 750w," sizes="100vw"><h2>Countries need to:</h2><ul><li>Understand the risk confronting money laundering and terrorist financing in the sector.</li><li>Register and license virtual asset service providers.</li><li>Regulate the sector, just as they do other financial institutions.</li></ul><h2>Virtual asset service providers need to:</h2><ul><li>Implement the same precautions as financial institutions, including customer due diligence, recordkeeping, and suspicious transaction reporting.</li><li>Access and hold the information with securely transmitting originator and beneficiary during the transaction.</li></ul><h1>Looking ahead and taking effectual action</h1>The technology behind virtual assets is developing rapidly. Future developments should not create loopholes that terrorists and criminals can exploit. Countries should implement the FATF measures as soon as possible to ensure the transparency of virtual assets transactions and keep funds associated with crime and terrorism out of the crypto space.Today, many virtual asset service providers are considered “risky businesses” and are denied access to bank accounts and other regular financial services. While the implementation of the FATF requirements is challenging for the sectors, it will ultimately increase trust in blockchain technology as it is the backbone behind a powerful and viable means of value transfer.The FATF has revised its assessment methodology, which sets out how it will determine whether countries have successfully implemented the FATF recommendations and oversee the virtual asset service provider sector.<ul><li><a href="https://www.fatf-gafi.org/publications/mutualevaluations/documents/fatfissuesnewmechanismtostrengthenmoneylaunderingandterroristfinancingcompliance.html">FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems</a></li></ul>The FATF standard ensures virtual assets being treated fairly and taking the same protections as financial sectors. The regulations of the FATF apply to the conversion of virtual assets into legal tender and the transfer of virtual assets from one type of virtual asset to another.<ul><li><a href="https://www.fatf-gafi.org/publications/methodsandtrends/documents/virtual-assets-red-flag-indicators.html">Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing [September 2020]</a></li><li><a href="https://www.fatf-gafi.org/publications/fatfrecommendations/documents/12-month-review-virtual-assets-vasps.html">12 Month Review of Revised FATF Standards – Virtual Assets and VASPs [July 2020]</a></li><li><a href="https://www.fatf-gafi.org/publications/fatfrecommendations/documents/guidance-rba-virtual-assets.html">Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers [June 2019]</a></li><li>T<a href="http://www.fatf-gafi.org/publications/fatfrecommendations/documents/fatf-recommendations.html">he FATF Standards: FATF Recommendations [revised&nbsp;June 2019]</a></li><li><a href="https://www.fatf-gafi.org/media/fatf/documents/recommendations/Virtual-Assets-FATF-Report-G20-So-Called-Stablecoins.pdf">FATF Report to the G20 Finance Ministers and Central Bank Governors on So-called Stablecoins [June 2020]</a></li><li><a href="https://www.fatf-gafi.org/publications/fatfgeneral/documents/statement-virtual-assets-global-stablecoins.html">Money laundering risks from “stablecoins” and other emerging assets</a></li></ul><blockquote>With KryptoGO’s one-stop KYABC (Know Your Address/Business/Customer), your compliance work is done in KryptoGO and automated due diligence can be done with minimal effort.</blockquote>

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Blockchain, bitcoin, crypto assets, virtual currencies ... a whole new vocabulary describing innovative technology to swiftly transfer value around the world. The fast-evolving blockchain and distributed ledger technologies have the potential to radically change the financial landscape. But, their speed, global reach and above all anonymity also attract those who want to escape authorities’ scrutiny. 

FATF Methodology with the Rapid Development of Virtual Assets 

<a href="https://medium.com/goaver/the-travel-rule-and-cryptocurrency-meet-24464a6d6863">https://medium.com/goaver/the-travel-rule-and-cryptocurrency-meet-24464a6d6863</a>The Financial Action Task Force (FATF) was established in 1989 by Group of Seven (G-7) as a global authority to regulate Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). FATF consists of<a href="https://www.fatf-gafi.org/about/membersandobservers/"> 39 member countries</a> who currently preside over more than 200 countries and almost every major global financial center. FATF also works closely with 8 regional associate members and 30 observer countries and organizations (e.g., IMF, UN, World Bank).In June 2019, the <a href="https://kyc-chain.com/what-is-the-financial-action-task-force-fatf/">FATF</a> revised their <a href="https://www.fatf-gafi.org/media/fatf/documents/recommendations/RBA-VA-VASPs.pdf">Recommendation 16 (Travel Rule)</a>, which fundamentally changes the original crypto world that we are familiar with. With the revision, the proposal has been extended to Virtual Asset Service Providers (VASPs) such as virtual assets and exchanges, with huge implications. The FATF publishes non-compliant countries and periodically publishes reports on member countries' compliance with the FATF recommendations. <a href="https://cointelegraph.com/news/fatf-aml-regulation-can-the-crypto-industry-adapt-to-the-travel-rule">The due date of Travel Rule compliance is June 2020.</a><h1>What is Travel Rule?</h1><a href="https://www.fatf-gafi.org/publications/fatfrecommendations/documents/guidance-rba-virtual-assets.html">Recommendation 16</a> is commonly referred to as the “Travel Rule,” and was designed to regulate the potential risk for money laundering or terrorist financing in wire transfers. The Travel Rule was previously limited to banks only, and closely mimics the Bank Secrecy Act (BSA) in the United States which requires financial institutions to share information about their customers and assume responsibility for reporting suspicious activity.Prior to the implementation of the FATF, the cryptocurrency industry was largely self-regulated. <a href="https://kyc-chain.com/cryptocurrency-regulations-around-the-world/">Each country created its own rules</a> to prevent money laundering and terrorist financing, but there was a lot of confusion and no overarching international standard, To keep up with the evolving world of cryptocurrencies, Recommendation 16 was expanded to include virtual assets and exchanges in June 2019.Expanded to include VASPsUnder the Travel Rule, VASPs are required to share the identities of users involved with any virtual asset transfers valuing $1000 USD or more.Countries should ensure that originating VASPs obtain and hold required and accurate originator information and required beneficiary information on virtual asset transfers, submit the above information to beneficiary VASPs and counterparts (if any), and make it available on request to appropriate authorities.VASPs will now need to obtain and verify customer identification with one another. The originator’s VASP should share the data listed blow with the beneficiary’s VASP during transactions:1 Name of the originator and beneficiary2 Account number used for transaction processing3 Identifiable information, such as physical address, ID number or place and date of birth.4 Share &nbsp;blacklists with other VASP and related parties.In addition, VASP should also be licensed or registered in the jurisdictions and have ongoing monitoring of transactions.We can examine whether a VASP should comply with the FATF regulations by questioning the following conditions:1 Whether it is a centralized virtual currency exchange.2 Whether it is a centralized virtual currency hosting service.3 Whether it allows for the transfer of virtual currency.4 Whether it provides custodian, investor, or issuer related services.If the answer to any of these questions is “yes,” then VASP should consider a risk-based, proactive approach to compliance:<ul><li>Develop a risk-based program tailored to the specific business</li><li>Implement Know Your Customer (KYC) and Enhanced Due Diligence (EDD) processes</li><li>Implement transaction monitoring and customer risk scoring</li><li>Implement dynamic systems to ensure compliance with sanctions laws</li><li>Establish clear communication with clients regarding prohibited activities</li><li>Record detailed suspicious transaction reports (STRs) where possible</li></ul>Relationship between Travel Rule and KYCThe main difference between Travel Rule and KYC is that the data collected during KYC is only used by the organization that collected the data, whereas under Travel Rule, KYC information needs to be shared between VASPs and/or relevant authorities. Moreover, KYC is an internal process, while Travel Rule is an external process.<h1>Opportunities and Challenges</h1>The Travel Rule will bring both positive and negative effects, with one major benefit being the reduction of financial crime in the cryptocurrency industry. Under the Travel Rule, financial crimes will be more difficult to commit and regulators will have a better understanding of how criminals use cryptocurrency.Another benefit is that the Travel Rule will lead to stronger KYC policies and practices, which in turn will increase customer confidence in VASPs. As a result, the implementation of Travel Rule may actually attract to new users to the crypto world who believe that the industry is now better regulated and therefore safer.However, with Travel Rule, cryptocurrency will be no longer anonymous, which is part of the reason it became so popular in the first place. It is possible that the use of VASP has declined due to the impact of Travel Rule. Although many people have heard of cryptocurrencies, <a href="https://cointelegraph.com/news/19-of-world-population-bought-crypto-before-2019-kaspersky-report">only 10% of people</a> actually fully understand <a href="https://cointelegraph.com/news/19-of-world-population-bought-crypto-before-2019-kaspersky-report">how they work.</a>&nbsp;On top of that, not all cryptocurrencies and VASPs use the same blockchain or even the same technology. For example, the two most popular cryptocurrencies, Bitcoin and Ethereum, run on <a href="https://www.investopedia.com/articles/investing/031416/bitcoin-vs-ethereum-driven-different-purposes.asp">completely different block chains</a>, which poses a huge problem for interoperability. It is conjectured that compliance with the Travel Rule would require overall uniformity of certain types in the crypto world, which would lead us to another problem.&nbsp;Furthermore, the government needs to develop regulations related to the registration of VASPs and the submission of Travel Rule reports. After all, cryptocurrency is not tied to any government, country, or legal tender.Then there are the interoperability issues involving cultural, language, and regional barriers. The need for a global solution means that VASPs in the US and VASPs in Japan must be able to use the same system. VASPs from all over the world will need to come together, work towards a common goal, and agree on a solution. When you consider it difficult for all countries around the world to reach consensus on anything, you will see a huge obstacle for VASPs.Compliance with the Travel Rule also requires compliance with existing personal data privacy laws, such as the <a href="https://kyc-chain.com/are-you-gdpr-compliant-heres-what-to-do/">GDPR</a> and <a href="https://kyc-chain.com/what-is-the-california-consumer-privacy-act/">CCPA</a>, which presents a further set of challenges.<a href="https://cointelegraph.com/news/not-everyone-is-happy-but-we-have-to-move-on-some-challenges-to-the-fatfs-new-guidance">In interviews during the V20 event in June 2019,</a> VASPs proposed some problems and challenges which both originators’ and beneficiaries’ VASP will have to find a way to share data with counterparties while not violating privacy laws or creating unreliable data through tampering.Travel Rule represents a major change in virtual currency that will fundamentally alter the way VASPs operate in the future. Besides, cooperation between VASPs will be a key part of day-to-day operations. It will be crucial for the virtual currency ecosystem and community to come together and do their best to comply with regulations.References<ul><li><a href="https://complyadvantage.com/knowledgebase/fatf-recommendations/">FATF Recommendations — What You Need To Know</a></li><li><a href="https://complyadvantage.com/knowledgebase/fatf-travel-rule/">FATF Travel Rule: What You Need To Know| ComplyAdvantage</a></li><li><a href="https://www.sygna.io/zh-hant/blog/what-is-fatf-recommendation-16-for-vasps/">What is the FATF Recommendation 16 Travel Rule for VASPs? — Sygna</a></li><li><a href="https://blog.chainalysis.com/reports/fatf-regulatory-guidance-is-here">Chainalysis Blog | FATF Regulatory Guidance Is Here. Now What?</a></li></ul>

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The Financial Action Task Force (FATF) was established in 1989 by Group of Seven (G-7) as a global authority to regulate Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT). FATF consists of 39 members who currently preside over more than 200 countries and almost every major global financial center. FATF also works closely with 8 regional associate members and 30 observer countries and organizations (e.g., IMF, UN, World Bank).

How to regulate virtual assets? –about FATF Travel Rule recommendations

Transaction monitoring is a type of technology that helps detect and analyze unusual transactions.<h1>Fiat Transaction monitoring</h1>Commonly, transaction monitoring include the assessment of the transaction’s type, size, nature, consistency with the customer’s risk profile, and previous transaction history.<ul><li>Basic KYC of the customer.&nbsp;PEPs, blocklist, and watchlist screening.</li><li>Identification of the client.&nbsp;The name of the sender is always written on the receipt, so that you can match it with the name stated in your agreement.</li><li>Transaction analysis. Monitor previous and future transactions to identify the unusually large, frequent or uncommon transactions.</li><li>Risk assignment. Determine the risk level of the a transaction based on the business policy.</li><li>Suspicious Activity Report (SAR). Regulators require that reports be kept for a minimum of five years and must be available at all times.</li></ul><h1>Crypto Transaction monitoring</h1>In the cryptocurrency world, transaction monitoring is a little different and more complex. Due to the anonymity of transactions, cryptocurrency transactions are always considered high-risk and are approached with strict due diligence measures.<ul><li>Address cluster detection. Identification of the cluster owner. The blockchain address itself is anonymous, so it can only be analyzed and risk based on the owner of the cluster that the address belongs to.</li><li>Transaction analysis. Screening of connections between the address and other addresses in the blockchain. Analyze the transactions up until the final determined address (wallet) entity or cluster, and calculate the possible risk score.</li><li>Suspicious Activity Report (SAR). Given the high risk associated with anonymous transactions in cryptocurrency, filing and keeping reports is even more important.</li></ul>&nbsp;<blockquote>With KryptoGO’s one-stop KYABC (Know Your Address/Business/Customer), your compliance work is done in KryptoGO and automated due diligence can be done with minimal effort.</blockquote>

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In the cryptocurrency world, transaction monitoring is a little different and more complex. Due to the anonymity of transactions, cryptocurrency transactions are often considered high-risk and approached with strict due diligence measures.

Different transaction monitoring mechanism between Fiat and Crypto

Hey friends. We’re back with another biweekly update, detailing the most important changes that happened in the past couple of weeks.A few weeks ago, we added an option in Settings that allows you to choose whether to factor in your NFTs when calculating your total balance in the Wallet Tab. That functionality has now been extended to the Home Tab, and users can now freely choose whether NFTs are part of their asset overview. In other words, users can now control if NFTs show up in the list view, pie graph, and line chart on the Home screen. The toggle can be found in Account &gt; Settings &gt; Include NFTs in Home Overview.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*zm-HNj8OKdm76gpkakbKWw.png" alt="" loading="lazy">Due to the high price volatility of this class of asset, we use floor prices to estimate the value of NFTs. Note that even with the option toggled to include NFTs, NFTs under a certain transaction volume are automatically filtered, preventing items with high artificial prices but low liquidity from falsely inflating your portfolio balance.We’ve also streamlined the process of redeeming multiple NFT rewards. Instead of repeating the same process numerous times, we added a field in which users can enter the amount of rewards they want to redeem simultaneously.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*H7J-3PWG2pAJi4FsEs4L1A.png" alt="" loading="lazy">Last but not least, for users who use KryptoGO Wallet with multiple devices, you may now notice a screen pop up during login that tells you that your account has already been signed in with a different device. This is in part a security upgrade, making sure users are aware that another device may have access to their wallet and making sure data stays consistent across all devices, and in part preparing for our account model overhaul that increases both the flexibility and ease-of-use of our wallet. We’re very excited to share more details with you once we are ready.<img class="image_resized" style="width:391px;" src="https://miro.medium.com/max/782/1*ZR6Y0xLsjUNlMCpN3bk69A.png" alt="" loading="lazy">As always, we’ve been continuously spotting and squashing bugs to provide the best possible user experience. Very briefly, here are some of the pesky bugs we’ve eliminated as well as small quality-of-life changes:<ul><li>Fixed a bug where gas fees were being incorrectly calculated during signing.</li><li>Fixed a bug where some external links in the DApp browser should open in other applications (e.g., Discord, Twitter, Telegram) but weren’t doing so.</li><li>Fixed a bug where (candlestick) price charts weren’t showing up for certain tokens.</li><li>The pie chart and the line graph in the Home Tab can now be refreshed via slightly dragging down on them.</li><li>Some in-wallet text clarity changes.</li><li>Binance Smart Chain is now correctly renamed to BNB chain.</li></ul><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*hQ4e_D2Uzs0-sCfvlih1_Q.png" alt="" loading="lazy">&nbsp;<h2 style="margin-left:0px;">Adding a dash of awesome…</h2>We don’t usually cover updates for products other than the wallet in these updates, but this one definitely deserves a mention: KryptoGO Dashboard version 1.0 is now available for all project teams who use KryptoGO to distribute or airdrop their NFTs. These NFTs can be given utility via the dashboard––for instance, allowing holders to redeem rewards––and users can easily check out the afforded utility using KryptoGO Wallet. Our different products integrate with one another and together aims to make it super easy (and safe) for teams and users alike to be part of a fun and exciting Web 3.0 experience, whether it be creating one or participating in one.&nbsp;That’s it for this week! As always, let us know what you think via Discord, or any of our other social media links listed below.<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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What's new July 20th? Home page asset list customization, streamlined reward redemption, and KryptoGO Dashboard version 1.0, among other things.

Biweekly Dev Update: July 20th, 2022

&nbsp;Under the regulation of FATF (Financial Action Task Force), countries and international organizations all over the world have the corresponding anti-money laundering (AML) standards to supervise the financial industry and some non-financial industries (such as jewelry shops and silverware shops).&nbsp;The steps to implement a successful anti-money laundering program include a key process: "Know Your Customer" (KYC). Usually, “KYC and AML” will be mentioned together and used interchangeably, which they seem to be regarded as the same thing. However, that is not the case, because the meanings of KYC and AML have a large difference, especially in the regulatory environment and legal norms.&nbsp;In order to successfully comply with anti-money laundering regulations, companies must know what KYC and AML are, their differences and how they are related to each other in the regulatory process.<h1>What is “Know Your Customer (KYC)”?</h1>Know Your Customer (KYC) is a fundamental process of any financial institution's anti-money laundering program. It is defined as the process by which these agencies collect information about their customers and verify their identities. This greatly helps them fully assess the risks associated with each client. For example, all investors must be verified before participating in any ICO or crowdfunding campaign. Fintech companies are mandated to collect vast amounts of verifiable information about their customers and their identities in order to determine their legitimacy before starting any business activity.<h1>What is AML?</h1>Anti-Money Laundering (AML) refers to the overall and broader measures and processes used by financial institutions and governments to prevent and combat financial crimes (especially for money laundering and terrorist financing). Anti-money laundering regulations are decided by global institutions such as UNODC and FATF on money laundering, regional institutions such as FINRA, and local governments and institutions.The anti-money laundering policy is part of a broader and more complete anti-money laundering compliance plan of financial institutions.<h1>The difference between AML and KYC</h1>The difference between AML and KYC is that, on the one hand, AML (anti-money laundering) is the general term of all regulatory procedures that enterprises must implement in order to carry out legitimate business. On the other hand, KYC (know your customers) is a smaller portion of AML, and it consists of companies that aim to verify the identity of their customers. This is just one step in a larger process.Many financial institutions often feel confused when it comes between KYC and AML. They blurred the boundary between the two processes, which lead to being disciplined by regulatory authorities. Depending on the seriousness of the error, they may be fined or even sentenced to imprisonment.Indeed, AML and KYC are different and cannot be used interchangeably. Having said that, KYC and AML are closely related and interrelated.Customer due diligence (CDD) is the basic process of customer identification program, while enhanced due diligence (EDD) is a more advanced KYC process which is mainly used for high-risk customers that cannot be excluded through simple CDD steps. These customers are usually more likely to be involved in financial crimes including money laundering and terrorist financing, so they need more thorough verification.KYC is the first step in implementing AML procedures or policies. It is the process of verifying the identity of customers. The purpose is to have a deeper understanding of customers and their financial transactions, so as to effectively manage risks. KYC is the process that AML follows and starts. As mentioned above, AML is a larger and broader concept, including customer due diligence, risk-based anti-money laundering policy, continuous risk assessment and ongoing monitoring, employee anti money laundering compliance training program, internal control and internal audit.&nbsp;<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/difference_form_41e2f7c7e5/difference_form_41e2f7c7e5.png" alt="difference form.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_difference_form_41e2f7c7e5/thumbnail_difference_form_41e2f7c7e5.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_difference_form_41e2f7c7e5/small_difference_form_41e2f7c7e5.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_difference_form_41e2f7c7e5/medium_difference_form_41e2f7c7e5.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_difference_form_41e2f7c7e5/large_difference_form_41e2f7c7e5.png 1000w," sizes="100vw">The difference between KYC &amp; AML<h1>Why would company mix up AML and KYC?</h1>KYC is the compliance process, which constitutes the first step in the broader AML framework. However, it is common to see financial institutions and companies confuse the two. Most companies use KYC system as a tool to detect fraud, and anti-money laundering compliance is a more complex and detailed process.Preventing and implementing anti-money laundering requires an in-depth understanding of many factors. From the internal operation of the financial industry to the understanding of local, regional, national and international anti-money laundering regulations and rules, successful anti-money laundering professionals must have skills beyond KYC. In addition, they must keep up to date with the latest technologies and AML software on the market.It is not difficult to imagine why companies often confuse KYC and AML. After all, they all play an indispensable role in finance. Most importantly, they are risk-based approaches. They also have some common functions, such as customer identification and risk management. But it is important to always remember that these processes are different and have multiple functions.<h1>The most critical differentiation</h1><ul><li>KYC: It’s more about the identification process and method used prior to customer acceptance, and the regular due diligence after acceptance.</li><li>AML: Usually discusses the post-acceptance measure, especially transaction and behavioral controls.</li></ul>This will help you find the right professional and team to complete each task (AML or KYC) and comply with the regulations.We hope this article has helped you understand the definitions of KYC and AML. While these two processes are different, they are complementary and interconnected, and they work together to combat financial crimes. AML and KYC must be followed by all financial institutions that want to conduct legal transactions and avoid breaking the law.&nbsp;<blockquote>About KryptoGOKryptoGO is the most advanced financial monitoring and investigation engine to help financial institutions quickly identify high money laundering risks. Through AI technology to help automate the regulatory process, combined with DLT technology to exchange and share industry data, the search covers a list of mainstream financial industry sanctions (for 200+ countries) and instantly analyzes digital footprints on the Internet to quickly understand all the background information of the target, analyze the context to read relevant sensitive words, sentiment, money laundering risks, and use the features that appear in the context to save up to 80% of the time spent on due diligence.</blockquote>

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Under the regulation of FATF (Financial Action Task Force), countries and international organizations all over the world have the corresponding anti-money laundering (AML) standards to supervise the financial industry and some non-financial industries (such as jewelry shops and silverware shops). 

The difference between KYC & AML?

&nbsp;Those who has been to a bank to open an account must have gone through a series of questions asking:“Where is your resident address?”“Why did you choose to open an account at Xinyi branch”“You opened an account at&nbsp;XXXX branch 3 months ago, why do you need to open another account now?”Wait a second, before you get annoyed by all those questions, why don’t you ask yourself the reasons these questions are necessary since the bank clerk has nothing to do with you.KYC is the abbreviation of “Know Your Customer.” We can dully understand the purpose of KYC’s implementation in the literal meaning: confirm the identity of customers through a series of processes and understand the risks that will be brought by providing services, so as to ensure that he will not affect the business and social stability of financial institutions for money laundering, raising funds for terrorists, drug lords and other criminals.The current KYC scheme all over the world comes from the “40 Recommendations for Combating Money Laundering and Terrorist Financing” formulated by the United Nations Financial Action Task Force on Money Laundering (hereinafter referred to as FATF). Since the 911 incident in the United States, FATF has revised the original KYC framework to include the policy of combating terrorist financing, and requires member states to keep the system consistent with the 40 core recommendations.&nbsp;Although Taiwan is not a member of FATF, we still follow the 40 recommendations on anti-money laundering. Therefore, it is meaningful for people living in Taiwan to understand KYC under FATF.<h1>KYC Process</h1>&nbsp;<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1111_0aae21acb3/1111_0aae21acb3.png" alt="1111.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1111_0aae21acb3/thumbnail_1111_0aae21acb3.png 234w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1111_0aae21acb3/small_1111_0aae21acb3.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1111_0aae21acb3/medium_1111_0aae21acb3.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_1111_0aae21acb3/large_1111_0aae21acb3.png 1000w," sizes="100vw">The KYC process can be roughly divided into five steps: collecting customer documents, checking sanctions lists, checking high-risk backgrounds, due diligence, and risk assessment. In short, it is a knockout game with five levels to help banks understand customers and the sources of funds.1. &nbsp;Collecting customer documentsCollecting customer documents is the most familiar segment for ordinary people: when you go to the bank to open an account, you must prepare double documents (an ID card and a NHI card) and a personal seal. As soon as you sit down in front of the counter, the bank clerk will bring out all kinds of dense documents for you to sign. When you are trying to understand what the documents are for, the bank clerk will take copies of your documents and file them, and cross examine all kinds of questions to confirm that you are indeed the person on your ID card, Make sure you are the only one among the 32000 "John".2. &nbsp;Sanctions list (blacklist) checkWhen the financial institution confirms that it has collected all the necessary documents, it will enter the step of checking sanctions list. FATF will produce a global sanctions list, and the names appearing on this sanctions list will definitely be rejected by financial institutions. People whose name will appear on this list include: important figures in terrorist organizations, drug lords, financial money laundering criminals. In addition, each country will also have a list of sanctions that adapt to local conditions and laws of each country. For example, the Hong Kong National Security Law of imposing sanctions on those who "attempt to split the country" and prohibiting financial institutions from serving them just passed in the middle of this year.&nbsp;3. &nbsp;High-risk background checkAfter removing those on the blacklist, the financial institution will then decide whether to conduct enhanced due diligence on the customer. Generally speaking, the following situations will be used to determine whether the customer is a high-risk customer influential.FiguresInfluential politicians and their relativesIndustryBanking, accountants, real estate brokers, trusts, securities, gem jewelers, silverware shop, etc.Those from countries/regions that have not implemented FATF guidelinesMost of the countries are with serious civil wars like Africa, North Korea, Albania and so on.Negative newsRetrieve the relevant news of the customer based on search databases (such as Google, Baidu, etc.) and observe whether there is any negative news such as crimes.4. &nbsp;Due diligenceAfter confirming who belongs to a high-risk group, it is extremely essential to take necessary measures to start a business relationship. Therefore, financial institutions should have a better understanding of the customer's transaction purpose and the relevant beneficiaries of the transaction, and require the customer to fill out the “enhanced due diligence questionnaire.”5. &nbsp;Issue a risk assessment report for high-risk groups and file all relevant documents together.<h1>When do we need to do KYC?</h1>&nbsp;<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/2222_225f2b3561/2222_225f2b3561.jpg" alt="2222.jpg" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_2222_225f2b3561/thumbnail_2222_225f2b3561.jpg 234w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_2222_225f2b3561/small_2222_225f2b3561.jpg 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_2222_225f2b3561/medium_2222_225f2b3561.jpg 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_2222_225f2b3561/large_2222_225f2b3561.jpg 1000w," sizes="100vw">When starting a business relationship with a customerJust like when we first meet someone, we are always curious about the person’s background. When financial institutions are about to start a business with customers, they also want to know the background of this person clearly. Therefore, KYC is required for account opening, fund subscription and trust handling.Regular review in accordance with regulationsWe must keep in touch with a person at all times and understand his recent changes, just like updating messages with friends regularly. According to the guidelines on Combating Money Laundering and Terrorist Financing, financial institutions must recheck high-risk customers every three years, while low-risk customers have to do it at least once every five years.<h1>What are the important elements needed to implement KYC?</h1><h2>Manpower or tools responsible for paper collection and risk assessment</h2>Currently, the overall KYC work is a well-known labor-intensive industry within financial institutions which relies on a large number of legal compliance personnel and the work of paper collection, archiving and implementation of risk assessment. According to Thomson Reuters, in-depth investigation of a customer takes at least 24 hours, at most a week. Moreover, they need to not only establish business relations, but also do regular investigations and even doing it while having drastic changes in risk. Therefore, KYC has always been a headache matter for the first-line personnel of financial institutions.With the innovation of money laundering methods in recent years, the strict compliance standards have made financial institutions invest more in labor costs, making technology sourcing in KYC process a trend. In the field of RegTech, many companies are committed to providing digital KYC services, hoping to improve the efficiency of financial institutions on the premise of compliance, ending the previous situation of consuming a large number of paper and manpower, and struggling under compliance standards.<h2>Perfect database</h2>KYC relies on large databases to provide lists with less noise figure, so that legal compliance personnel can take the first step to filter information in the era of information explosion. The world's famous databases include Dow Jones (which is also the system in Taiwan at present) and World Check of Refinitiv.<h1>Conclusion</h1>KYC, which is rooted in FATF law, is a set of methods to know customers in order to reduce the risk of financial institutions assisting in money laundering and terrorist fund-raising. If financial institutions do not conduct KYC appropriately, they should not be providing services to customers. Now KYC relies more on manpower and paper. On the one hand, the procedures are more complex so it can be well-integrated. On the other hand, the fault-tolerant rate of manpower review is high, leaving financial institutions the opportunity to "turn a blind eye." For example, in the 2012 HSBC scandal, HSBC created the illusion of due diligence with a large number of manpower. In fact, they selectively ignored the information found in the database and secretly helped high-risk individuals to conduct money transactions.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/0000_8da03e58c8/0000_8da03e58c8.jpeg" alt="0000.jpeg" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_0000_8da03e58c8/thumbnail_0000_8da03e58c8.jpeg 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_0000_8da03e58c8/small_0000_8da03e58c8.jpeg 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_0000_8da03e58c8/medium_0000_8da03e58c8.jpeg 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_0000_8da03e58c8/large_0000_8da03e58c8.jpeg 1000w," sizes="100vw">

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KYC is the abbreviation of “Know Your Customer.” We can dully understand the purpose of KYC’s implementation in the literal meaning: confirm the identity of customers through a series of processes and understand the risks that will be brought by providing services, so as to ensure that he will not affect the business and social stability of financial institutions for money laundering, raising funds for terrorists, drug lords and other criminals.

Always being a concern in the bank? Get to know “KYC” in 5 minutes

<hr>Hey friends. We’re back with another biweekly update, detailing the most important changes that happened in the past couple of weeks. Or should I say, the most important “chain-ges”?Aside from being a bad pun, it’s also what we’ve been working hard on 🤓Want a tl;dr video version? <a href="https://youtu.be/OWXI-ikdz3A">Here it is.</a><h4>Support for New&nbsp;Chains</h4><img src="https://cdn-images-1.medium.com/max/1600/1*CSMpos_y9LwtkDruO7u-PA.png">Wallet &gt; Chain Slider &gt; Arbitrum, or KuCoin Community ChainIn our continuous effort to provide our users the best wallet for the ever-growing crypto landscape and to consolidate more of your on-chain assets, we now support two new chains –– The KuCoin Community Chain (KCC) and Arbitrum (ARB). You can find these chains using the slider in the Wallet Tab, and the DApp browser connects to them automatically as well.KuCoin Community Chain is a layer-one, EVM compatible blockchain that focuses on performance, while Arbitrum is a layer-two solution that aims to improve Ethereum’s scalability and security using a technology called optimistic rollup. Going into the details here digresses from our main topic, so if you want to learn more about these new chains that we now support, their official websites can be found <a href="https://www.kcc.io/">here</a> and <a href="https://arbitrum.io/">here</a>:<ul><li>KuCoin Community Chain: <a href="https://www.kcc.io/">https://www.kcc.io/</a></li><li>Arbitrum: <a href="https://arbitrum.io/">https://arbitrum.io/</a></li></ul>For those who are wondering how we prioritize and choose between the plethora of different chains to implement, we 1) listen to user feedback, and 2) pay attention to events and trends happening in crypto. For instance, Arbitrum is added as part of the Arbitrum Odyssey initiative, the details of which can be found <a href="https://galaxy.eco/arbitrum/campaign/GCCNzUtQiW/">here</a>.Though temporarily paused, according to the official twitter account, Odyssey is set to resume after Arbitrum implements its Nitro upgrade, and with this update our wallet will be prepped to handle all types of interactions with the chain. Once Odyssey is resumed, we’ll notify users using the in-app notification center, as well as the new banners that can now be found in the Explorer Tab. In the meantime, choose the Odyssey tag in the Explorer Tab to see the relevant links!<img src="https://cdn-images-1.medium.com/max/1600/1*QjzAtAOoFAcQ3m60fVqi6w.png">new banners in the Explorer Tab (left) | see links using the “Odyssey” tag&nbsp;(right)<h4>Advanced Gas&nbsp;Controls</h4><img src="https://cdn-images-1.medium.com/max/1600/1*qemB-bpwG3iaX8Qja2ErJA.png">advanced gas support for Polygon and Binance&nbsp;ChainWe’ve added advanced gas support for Ethereum a few updates ago, and now, that functionality has been extended for Polygon and Binance Chain. Choose how much you want to pay for each transaction, and be the boss of your own gas fees 😎<h4>Update Phone&nbsp;Number</h4><img src="https://cdn-images-1.medium.com/max/1600/1*CBM5b1j-S7Qhf7J8qINgow.png">Account &gt; Settings &gt; Security &gt; Update Phone&nbsp;NumberCurrent users of our wallet already know that KryptoGO Wallet ties user identity and authentication with their phone numbers. This allows for easy registration and vastly simplifies the process of creating a multi-chain crypto wallet for crypto newbies.However, if you lost access to your old phone number or changed to a new phone number, you had to make a new KryptoGO account. Although you could reimport your wallet using your seed phrase, that requires the oh-so-intimidating process of having memorized a sequence of words like being forced to participate in a primary school spelling test. You’d also lose all your account information, including your preferred settings, and the contacts that you’ve imported or added manually.In this update, we’ve added the option to update the phone number that is associated with your current account. For security reasons, we require you to have access to your current phone and new phone. Of course, the new number must not already be associated with another KryptoGO account. Once the phone number associated with your account is successfully updated, you can log in like you otherwise would using your new phone number, and you keep all your account information.As a side note, we have something huge in the works that would revamp how your phone number is linked to your KryptoGO account, which is then in turn, linked to your multi-chain wallet. The goal is to make the account model both more functional and flexible. Being able to change your associated phone number is but a first step to this bigger change, the details of which will be revealed in the months to come!<hr>That’s it for this week! As always, let us know what you think via Discord, or any of our other social media links listed below.<h3>Follow us:</h3><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a><hr>(July 6th, 11:30am update):Our latest update is not yet live on the Apple App Store because they say our app, quote, “offers cryptocurrency transactions in non-embedded software within the app, which is not appropriate for the App Store.” We’re currently actively communicating with Apple to see how this problem can be resolved and will push these updates as soon as we are able to.

20220706devupdate

We’re back with another biweekly update, detailing the most important changes that happened in the past couple of weeks. Or should I say, the most important “chain-ges”?

Biweekly Dev Update: July 6th, 2022

Hey — we’re back again with another dev update. Over the past two weeks, we have been focusing on improving the user experience.Under the hood, we did a bunch of performance optimizations that improve responsiveness and reduce power usage. In particular, you should notice smoother user interface scrolling, and faster NFT and token data load times.We also cleaned up some of our internal code regarding the Explorer. The DApp browser now launches automatically every time you are redirected to a webpage. Want to clear your browsing data? You now have the option to clear all cookies in the DApp browser.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*OeSWUHNcWdF3lV3YeMdtYg.png" alt="" loading="lazy">&nbsp;We continue to add customizable options to our app so you can use it the way that best suits you. In Settings, you can now choose whether you want to keep the floating browser bubble. Also in Settings, you can now choose whether to factor in your NFTs when calculating your total balance. Note that even when enabled, NFTs under a certain transaction volume are automatically filtered, preventing items with high artificial prices but low liquidity from falsely inflating your portfolio balance.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*nFCmadLNsd6C1sbgc7DzWg.png" alt="" loading="lazy">▲ Choose whether to factor in your NFTs when calculating your total balance, in Settings&nbsp;We want to hear what you think about the user experience of our app. KryptoGO is currently conducting a survey seeking your feedback on different use cases and your experience with using our product. Our product developers will read all your feedback and design accordingly as we move forward, so we encourage everyone to fill out the survey for your opinions to be heard!Let us know what you think. Here is the link to the survey: <a href="https://kryptogo.page.link/rJPt">https://kryptogo.page.link/rJPt</a><h2>Follow us:</h2><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>&nbsp;&nbsp;

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Hey — we’re back again with another dev update. Over the past two weeks, we have been focusing on improving the user experience.

Biweekly Dev Update — 20220622

This week, we released version 1.0.0 of our app, and you know what that means — some major upgrades coming your way! Let’s take a more detailed look at the update:<h1 style="margin-left:0px;">In-app Explorer: Your Gateway to the World of Crypto</h1><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*JJg8o5GmpqsfdtkhZBegLA.png" alt="" loading="lazy">First, we’ve moved stuff around a bit for a smoother navigation experience:<ul><li>The Earn Tab originally on the bottom navigation bar is now accessed via a button found on the Home Screen.</li><li>Everyone’s favorite DApp browser can now be accessed via the Explorer Tab, found at the center of the bottom navigation bar.</li></ul>We’ve elected to put the Explorer right in the middle since it is the gateway to the fun, expansive world of crypto. We also carefully curated a selection of the most popular and interesting decentralized applications to put on the main Explorer page that you can––you’ve guessed it––explore as you make your way through the novel playground of Web 3.0.Found opening and closing the browser unintuitive and somewhat inconvenient in the previous version? Well, worry no longer, for now, we have a floating browser bubble that persists across all relevant screens that allows you to jump in and out of DApps super easily. Imagine this: you’re browsing using the Explorer, and you need to send your friend a token, but you want to return to the same browser page as soon as the operation is finished. With the floating bubble, this sequence of actions can now be done effortlessly.This update includes a number of quality of life updates as well:<ul><li>When returning to a browser webpage from outside the browser, the page no longer has to reload every time.</li><li>The browser maintains a complete history of your visited DApps</li><li>A dedicated Favorites Tab that keeps track of your favorite DApps</li></ul><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*jkZ4XOrns5jiZxtYMMm6jA.png" alt="" loading="lazy">To disable the floating browser bubble, drag it to the bottom of the screen and press the ‘X’ that appears. You can also turn it off in the settings.<h1 style="margin-left:0px;">The Notification Center</h1><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*GxZ6CdEwzvLwUQG5Rt2zkQ.png" alt="" loading="lazy">In version 1.0.0, we added a notification center that consolidates all official announcements, and transaction notifications. You can find the notification center as a bell icon on the top right corner of the Home Tab.The new notification center supports the following functionality:<ul><li>No more disappearing or missing notifications! The number of unread notifications is indicated on the Notification Center icon.</li><li>All historical notifications are saved. Revisit them whenever you want.</li><li>Clicking on push notifications redirects you to the relevant screen. For instance, if you click on a transaction notification, you are redirected to the Transactions Tab of the relevant chain.</li></ul>We welcome your feedback as always and strive to keep improving the user experience of KryptoGO Wallet. If you have any suggestions for DApps to include on the Explorer main screen, DeFi pools you’d like to see on the Earn page, or requests for new features, kindly let us know at <a href="https://roadmap.kryptogo.com/b/feature-requests/">https://roadmap.kryptogo.com/b/feature-requests/</a><h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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This week, we released version 1.0.0 of our app, and you know what that means — some major upgrades coming your way! Let’s take a more detailed look at the update.

Biweekly Dev Update — 20220608

<h1 style="margin-left:0px;">Transparent app development</h1>In the spirit of facilitating community participation and discussions, as well as making our app development progress more transparent, we will be posting a biweekly dev update every two weeks starting from today! 🥳<h1 style="margin-left:0px;">Let’s get you up to speed.</h1>Curious about what we’ve been up to after launching the 2022 New Year Lucky Bag NFT event? We spend a lot of effort polishing each of our products. Here’s a brief summary of major changes:<ul><li>The brand new official KryptoGO website</li><li>An integrated DApp browser in the KryptoGO Wallet</li><li>Instant transaction push notifications</li><li>A more streamlined and better NFT experience - View NFT details, including traits and rarity - List an NFT for sale on the NFT Details Screen - View an NFT’s price history and track its floor price - Choose an NFT as your avatar with built-in verification - Track NFT price changes - Pin your favorite NFTs to the top of the page and hide unwanted collections - NFT redemption is now faster</li><li>Faster synchronization of contacts. Use your favorite NFT as your avatar for all your contacts to see.</li><li>Other optimizations and bugfixes</li></ul>Below, we go into detail on the most recent update:<h1 style="margin-left:0px;">Redirect to your wallet from your native browser.</h1><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*TiBdLccixhGXJv7oek40UQ.png" alt="">KryptoGO Wallet is now available on the Wallet Connect Registry.After clicking on Wallet Connect, choose KryptoGO to jump directly from your native browser to your wallet. You do not need to scan a QR code.<h1 style="margin-left:0px;">Security is our top priority.</h1><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*rG-f9gjpQFD5eV9bdG133Q.png" alt="">At KryptoGO, nothing is more important to us than ensuring the safety of user assets. In order to prevent social attacks, the app now automatically locks if idle for a certain period of time.We encourage users to lock their screens whenever they can for maximum security.<h1 style="margin-left:0px;">We continuously monitor DeFi pools.</h1><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*cxVDmCweJxPmb-ma-RRJCA.png" alt="">Many people have asked us to add more investment options. We heard you.On the Earn page, even inexperienced users can easily invest with just a single click. For experienced users, our integrated DApp browser allows them to access a variety of investment options. We are cautious about adding new pools in order to keep thing simple and friendly for all users.In DeFi, it is not uncommon that the handling fee alone will eat up all the profits especially with relatively small investments. While we’re still deciding on what Defi pools we want to include in our app, one thing we promise is to protect your assets. If we list a Defi pool, we will do our due diligence and continuously monitor the pool.We want to hear what you think. Feel free to recommend your favorite pool to us on <a href="https://discord.gg/kryptogo">Discord</a>.<h1 style="margin-left:0px;">For advanced NFT flippers and DEX traders out there…</h1><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*7r-TEXZ9CXQJaAivetlG3g.png" alt="">You asked for this functionality, and we delivered!Users can now customize the gas fee themselves for all transactions. Mint NFTs and trade in the most cost-effective way.<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*GuX1CsaMzict3mFcDdwikw.png" alt="">A real-time gas tracker can now be accessed from the Wallet page. We support EIP-1559: you can set your preferred gas setting as the default.<h1 style="margin-left:0px;">Tracking your portfolio is easier than ever.</h1><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*u9Waj2zwRtM5JV6WLHYPkQ.png" alt="">On the Home Page, there is now an aggregated list of assets that displays your Defi positions, NFTs, and tokens from highest to lowest value. Toggle between the list view, pie chart view, or line graph view. View the details of each asset simply by clicking on them. Interested in KryptoGO?<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a> &nbsp;

In order to allow the community to participate more in our discussions and to make our development progress transparent, we will share our development progress every two weeks starting from this week.

Biweekly Dev Update — 20220525

NFT has become all the rage since the second half of 2021. Lots of celebrities and brands such as Lindsay Lohan, Adidas and Gucci entered into the fray and issued their own NFTs, which getting many crypto newbies' attention and luring them to participate NFT projects.&nbsp;&nbsp;Having multiple NFTs in one wallet becomes a common thing but it also makes managing NFT assets harder and harder no matter you want to track values or stay on top of the trending. Currently the common way of knowing the rise and fall of NFTs you own is go to your profile on OpenSea, click each NFT and check its floor price everyday; therefore, you’ll know if this is a timing for sell.&nbsp;However, when you have more and more NFTs, clicking them one by one will be not feasible. Hence, if there is a tool or an app like Blockfolio (currently is FTX) for NFT which allows users to review all the details such as rarity, amount of increase, history floor price and attributes will save us a lot of time. If you’re looking for tools to manage NFT assets, here are some you may find useful:TraitSniper TraitSniper is a browser extension which allows you to see the rarity ranking of each NFT directly through OpenSea; at the same time, it also displays the current floor price.Therefore, with TraitSniper, every day you can simply check out your profile on OpenSea, and see if any NFT is listed at a price lower than current floor price. This gives you a signal to adjust selling prices.&nbsp;<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/traitsnipper_9b1787a0ea/traitsnipper_9b1787a0ea.jpg" alt="traitsnipper.jpg" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_traitsnipper_9b1787a0ea/thumbnail_traitsnipper_9b1787a0ea.jpg 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_traitsnipper_9b1787a0ea/small_traitsnipper_9b1787a0ea.jpg 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_traitsnipper_9b1787a0ea/medium_traitsnipper_9b1787a0ea.jpg 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_traitsnipper_9b1787a0ea/large_traitsnipper_9b1787a0ea.jpg 1000w," sizes="100vw">&nbsp;One more advantage of this extension is you can directly go to the NFT projects or accounts that you would like to track and know which NFT is actually listed at a cheaper price compared to the floor price right away; then it helps you make a quick call of buying it instead of spending time on rarity.tools and look up the rarity back and forth.&nbsp;Pros: totally free and easy to use as an extension which doesn’t acquire any behavior change of webpage browsing.&nbsp;Cons: It only provides the information of rarity and floor price. If you want to dig into more details, you’ll have to go back to the project pages.&nbsp;KryptoGO Wallet KryptoGO Wallet]link is a non-custodian wallet which focuses on cross-chain assets management. Lately, it added many NFT details as key features such as floor price, history transactions and attributes. Users can simply review all the information even contract addresses on Etherscan and OpenSea pages. With this one wallet, you can check out the performance of not only NFT collections but also cryptocurrency assets.&nbsp;<figure class="image"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/kryptogo_wallet_35ca48499b/kryptogo_wallet_35ca48499b.jpg" alt="kryptogo_wallet.jpg" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_kryptogo_wallet_35ca48499b/thumbnail_kryptogo_wallet_35ca48499b.jpg 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_kryptogo_wallet_35ca48499b/small_kryptogo_wallet_35ca48499b.jpg 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_kryptogo_wallet_35ca48499b/medium_kryptogo_wallet_35ca48499b.jpg 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_kryptogo_wallet_35ca48499b/large_kryptogo_wallet_35ca48499b.jpg 1000w," sizes="100vw"></figure>One strength of KryptoGO Wallet is besides consolidating NFT details, it supports the overview of crypto assets across chains including BTC, ETH, BSC, SOL, Tron and Polygon, which allowing users to track their assets in one place and purchase &amp; swap cryptocurrency through the dApp browser directly. Basically this is a tool that can fulfill your basic needs regarding crypto asset management.&nbsp;Pros: totally free and user friendly interface. You can check details of NFTs once they’re in the wallet.&nbsp;Cons: currently it only supports NFTs on ETH and Polygon.&nbsp;Floor Floor is dedicated to consolidating all the information of NFT in one app. With the great user interface, you’ll be able to track the rise and fall of your NFTs on the Home page. When you click each NFT, it displays many details such as floor price, average price during different time periods and attributes. In the upcoming future, it will also include the transaction activity.&nbsp;&nbsp;<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/floor_0f30617a20/floor_0f30617a20.png" alt="floor.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_floor_0f30617a20/thumbnail_floor_0f30617a20.png 221w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_floor_0f30617a20/small_floor_0f30617a20.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_floor_0f30617a20/medium_floor_0f30617a20.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_floor_0f30617a20/large_floor_0f30617a20.png 1000w," sizes="100vw">&nbsp;Pros: clear and easy-to-use interface. It’ll provide transaction history very soon.&nbsp;Cons: It requires users to mint an access token (0.2 ETH) first and then grant access to these features.&nbsp;To sum up, TraitSnipper is good for someone who need the rarity information to make the purchase decision. It’s not just free for use but also doesn't require additional leaning. If you just need one place to review all your crypto assets and purchase coins directly through dApps, KryptoGO Wallet will be a good choice. Currently, it doesn’t charge any fee for using features. Finally, if you have some budget and are looking for a tool that can consolidate all the information of NFT, then Floor is the one for you. Hope what we share today can help you manage NFTs more efficiently. If you know some other useful tools, you’re welcome to share with us anytime.

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Managing NFT assets is getting harder and harder. Here are 3 tools helping you manage NFT more efficiently. Some of them are even free for use.

3 NFT Tools Help You Manage NFT Assets More Efficiently

<a href="https://www.kryptogo.com/blog/how-to-regulate-virtual-assets-about-fatf-travel-rule-recommendations">How to regulate virtual assets? –about FATF Travel Rule recommendations</a><a href="https://www.kryptogo.com/blog/how-to-regulate-virtual-assets-about-fatf-travel-rule-recommendations">In June 2019, the FATF revised their Recommendation 16 (Travel Rule), which fundamentally changes the original crypto world that we are familiar with. With the revision, the proposal has been extended to Virtual Asset Service Providers (VASPs)</a><a href="https://www.kryptogo.com/blog/how-to-regulate-virtual-assets-about-fatf-travel-rule-recommendations">blog.kryptogo.com</a>The Travel Rule is a new regulatory requirement regarding counterparty risks. As we mentioned in our previous article, it is relevant to almost all cryptocurrency industries operating under the jurisdiction of the FATF. The Travel Rule requires that a VASP (Virtual Asset Service Provider), such as an exchange, must identify the originator and beneficiary of cryptocurrency transactions over a certain scale initiated by their users. If the counterparty to those transactions is also a VASP, then the original VASP must transmit the user’s information to the second VASP.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_Fy_Oay4_Z4_MP_Wtex7_Vvnn_GQ_3d8751016d/1_Fy_Oay4_Z4_MP_Wtex7_Vvnn_GQ_3d8751016d.jpeg" alt="1_FyOay4Z4MP-Wtex7VvnnGQ.jpeg" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_Fy_Oay4_Z4_MP_Wtex7_Vvnn_GQ_3d8751016d/thumbnail_1_Fy_Oay4_Z4_MP_Wtex7_Vvnn_GQ_3d8751016d.jpeg 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_Fy_Oay4_Z4_MP_Wtex7_Vvnn_GQ_3d8751016d/small_1_Fy_Oay4_Z4_MP_Wtex7_Vvnn_GQ_3d8751016d.jpeg 500w," sizes="100vw">The regulatory decree corresponding to the actual amount is shown in the figure above.The Travel Rule aims to help cryptocurrency enterprises reduce counterparty risk and establish a source of funds for cryptocurrency received by the users. Although some jurisdictions have implemented different rules, <a href="http://www.fatf-gafi.org/publications/fatfrecommendations/documents/regulation-virtual-assets-interpretive-note.html">the versions in FATF</a> states that VASPs must exchange counterparty information with each other for cryptocurrency transactions valued at more than USD 1,000 or EUR 1,000. Specifically, the originator and beneficiary VASPs must provide the following information to each other:<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/eng_b650f5aae5/eng_b650f5aae5.png" alt="eng.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_eng_b650f5aae5/thumbnail_eng_b650f5aae5.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_eng_b650f5aae5/small_eng_b650f5aae5.png 500w," sizes="100vw">Information content to be exchanged in a transactionAt first glance, Travel Rule appears to be a simple matter transferring counterparty information between two VASPs. However, the Travel Rule actually requires end-to-end changes to the existing compliance process, as VASPs must identify and take action on all transactions that meet the rule’s thresholds in real time. This brings significant technical challenges especially for large-scale implementation, as blockchain analysis shows that approximately 12% of all VASP transactions in February 2021 (approximately 2 million transactions in total) meet the current FATF proposed USD 1,000 threshold. The technical challenges introduced by the Travel Rule is listed below:<h1>Challenge 1: Identifying Travel Rule Transactions</h1>When a customer initiates a transaction, the originating VASP needs to automatically determine if the transaction meets the Travel Rule requirements. This means they must :<ul><li>Determine if the transaction amount meets the Travel Rule thresholds of the relevant jurisdiction.</li><li>Determine if the counterparty’s wallet is held by another VASP.</li><li>Collect any missing counterparty information.</li></ul>All of this needs to happen immediately.<h1>Challenge 2: Conducting Due Diligence on Counterparty VASPs</h1>Once the originator VASO determined that a transaction meets the requirements of the Travel Rules, it must:<ul><li>Identify counterparty VASPs</li><li>Assess the counterparty VASP’s risk level to determine if the shared user’s personally identifiable information (PII) is secure</li></ul>During the assessment of counterparty risk, the originator VASP must consider the reputation of the counterparty VASP, the quality of the compliance program, the level of information security, and the scope of the company’s own exposure.<h1>Challenge 3: Initiating and completing a Travel Rule transfer</h1>Finally, the originator VASP must have an appropriate communication channels or protocols for secure data transmission with the counterpart VASP. Both VASPs must have a secure way to store the data they receive in order to protect the privacy of customers and prevent internal abuse of that data.But in fact, there is no standard protocol to follow at present. There are more than eight protocols for Travel Rule alone - OpenVASP, TRISA, USTRWG, TRP, SYGNA, Shyft, NETKI, Notabene. For VASP industry, which is inherently weak regional and decentralized, interoperability has become a major obstacle to compliance with regulations.<figure class="image"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_9_M2yt_Sd_Qult_LN_3_Fn_PU_km_A_7648c4046a/1_9_M2yt_Sd_Qult_LN_3_Fn_PU_km_A_7648c4046a.jpeg" alt="1_9M2ytSdQultLN3FnPU-kmA.jpeg" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_9_M2yt_Sd_Qult_LN_3_Fn_PU_km_A_7648c4046a/thumbnail_1_9_M2yt_Sd_Qult_LN_3_Fn_PU_km_A_7648c4046a.jpeg 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_9_M2yt_Sd_Qult_LN_3_Fn_PU_km_A_7648c4046a/small_1_9_M2yt_Sd_Qult_LN_3_Fn_PU_km_A_7648c4046a.jpeg 500w," sizes="100vw"></figure><h1>KryptoGO Helps VASP Reduce Regulatory Friction</h1>Starting to comply with travel rules early and send signals to regulators to state that the cryptocurrency business is taking regulations seriously. This helps VASPs obtain licenses on time without disrupting the plans which bring their products and services to market.However, in order to comply with the rules, VASP needs to identify transactions that meet the requirements of the rules, extract KYC information from users, and send it to VASP counterparties when the transaction is completed. All of this needs to happen immediately to avoid affecting the user experience, which is not easy for cryptocurrency businesses that process thousands of transactions per day. These three challenges bring us two problems:1 Can all of these challenges be addressed on a large scale with minimal impact on the transaction flow?2&nbsp;How can VASP comply without creating unnecessary friction for users?KryptoGO's KYABC includes checks for natural persons, corporate entities, and blockchain funds.<ul><li>Know Your Address: Check the blockchain addresses of our identified counterparties, including wallet type, transaction information, corresponding services or entities, and risk scores.</li><li>Know Your Business: Review the reputation of the counterparty VASP to ensure that the transaction and information exchange is safe and secure.</li><li>Know Your Customer: Review the identity of originators and beneficiaries for compliance with anti-money laundering regulations.</li></ul>Moreover, through KryptoGO's relay API, cryptocurrency businesses can automatically transact with trusted counterparties while providing them with the data needed to detect suspicious activity and meet regulatory requirements, and complete transactions in different Travel Rule protocols,&nbsp;so as to help our customers meet all the challenges required for large-scale Travel Rule compliance.

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The Travel Rule is a new regulatory requirement regarding counterparty risks. As we mentioned in our previous article, it is relevant to almost all cryptocurrency industries operating under the jurisdiction of the FATF. The Travel Rule requires that a VASP (Virtual Asset Service Provider), such as an exchange, must identify the originator and beneficiary of cryptocurrency transactions over a certain scale initiated by their users. If the counterparty to those transactions is also a VASP, then the original VASP must transmit the user’s information to the second VASP.

Top 3 Challenges in Regulatory Implementation for the Travel Rule

In the Multiple Multi-wallet released by KryptoGO Wallet v2.0.0, users can add an empty wallet to their original Wallet Group, or import assets from other wallets through private keysBefore adding or importing wallets, you need to select which chain or chains your wallet is on. If you don't know which chain to choose, this article may help you.<h1>What chain can I choose?</h1>Currently KryptoGO Wallet supports 8 public chains, and it will continue to increase,&nbsp;<ol><li>Ethereum (EVM Compatible)</li><li>Bitcoin</li><li>Solana</li><li>Tron</li><li>BNB Chain (EVM Compatible)</li><li>Polygon (EVM Compatible)</li><li>Arbitrum (EVM Compatible)</li><li>Kucoin Community Chain(EVM Compatible)</li></ol>…and more chains &nbsp;SOON&nbsp;EVM-compatible chains use the same address, so in the interface for adding a wallet, you can choose one of these options:<ol><li>EVM：including Ethereum、BNB、Chain、Polygon、Arbitrum、KCC…&nbsp;</li><li>Bitcoin</li><li>Solana</li><li>Tron</li></ol><figure class="image image_resized" style="width:920px;"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_dd8a037597/image_dd8a037597.png"></figure>&nbsp;<h1>Create a new wallet in wallet group</h1>It will generate a new wallet private key under the original mnemonic in the Wallet Group, and you will find the new wallet in Wallet Tab &gt; Wallet Group &gt; select wallet.<figure class="image image_resized" style="width:920px;"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_cc330cbb66/image_cc330cbb66.png"></figure><h1>Import wallet via private key</h1>You can import the private keys of other decentralized wallets (DeFi Wallet) into KryptoGO Wallet to manage your all virtual assets, as long as we have support for the chain, you can import! (If you are using a centralized exchange or a centralized GameFi Wallet, you cannot import the private key because &nbsp;you do not keep the private key by yourself)<ul><li>Common wallets like：Metamask、Trust Wallet、Zerion、Rainbow…</li><li>Solana wallets like：Phantom、Slope</li></ul><figure class="image image_resized" style="width:920px;"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_bb24974fe9/image_bb24974fe9.png"></figure><h3>&gt; Why import wallets into KryptoGO Wallet?</h3>KryptoGO Wallet is a decentralized wallet that can manage multi-chain assets. It is safe and has powerful functions. As long as you import the wallets of each chain, you do not need to jump between various wallet apps/extensions.&nbsp;<figure class="image"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_6365518311/image_6365518311.png"></figure>&nbsp;Also welcome to Discord to make a wish on which chains you would like to use in KryptoGO Wallet!<h1>Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

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Before adding or importing wallets, you need to select which chain or chains your wallet is on. If you don't know which chain to choose, this article may help you.

在 KryptoGO Wallet v2.0.0 發佈的多錢包管理功能中，用戶可以在自己原本的 Wallet Group 裡新增一個空的錢包，或是將其他錢包的資產透過私鑰導入～在新增或導入之前，需要先選擇你的錢包在哪一條區塊鏈上，如果你不清楚要選擇什麼鏈，這篇文章或許可以幫助到你，那麼我們就往下看吧！<h1>可以選擇什麼鏈？</h1>目前 KryptoGO Wallet 串接了 8 條公鏈：（陸續擴充中）<ol><li>Ethereum 以太坊 (EVM 相容)</li><li>Bitcoin 比特幣</li><li>Solana</li><li>Tron</li><li>BNB Chain 幣安鏈 (EVM 相容)</li><li>Polygon (EVM 相容)</li><li>Arbitrum (EVM 相容)</li><li>KCC 庫幣社群鏈(EVM 相容)</li></ol>&nbsp;&nbsp;EVM 相容的鏈使用同一個地址，因此在新增錢包的介面，我們可以選擇：<ol><li>EVM：包含 Ethereum、BNB、Chain、Polygon、Arbitrum、KCC，以及未來可能會有的EVM 相容鏈</li><li>Bitcoin</li><li>Solana</li><li>Tron</li></ol><figure class="image"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_dd8a037597/image_dd8a037597.png"></figure>&nbsp;<h1>創建新錢包</h1>新創建的錢包會在 Wallet Group 裡，在原本的助記詞下生成一個新的錢包私鑰<figure class="image"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_cc330cbb66/image_cc330cbb66.png"></figure><h1>以私鑰導入錢包</h1>你可以將其他去中心化錢包（DeFi Wallet）的私鑰導入 KryptoGO Wallet 管理，只要確定我們有支援該鏈就可以導入！（如果是使用中心化交易所或中心化的 GameFi Wallet，你並沒有自行保管私鑰，就無法導入喔～）<ul><li>常見的錢包：Metamask、Trust Wallet、Zerion、Rainbow…</li><li>Solana 錢包：Phantom、Slope</li></ul><figure class="image"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/image_bb24974fe9/image_bb24974fe9.png"></figure><h3>&gt; 為什麼要將錢包導入 KryptoGO Wallet?</h3>KryptoGO Wallet 是一個可以管理多鏈資產的去中心化錢包，安全而且擁有強大的功能，只要將各個鏈的錢包導入，你就不需要在各個錢包 App/Extension 間跳轉&nbsp;也歡迎來 Discord 敲碗許願你想要在 KryptoGO Wallet 使用哪些鏈喔！<h1 style="margin-left:0px;">Follow us:</h1><a href="https://discord.gg/kryptogo">Discord</a> | <a href="https://www.facebook.com/kryptogo">Facebook</a> | <a href="https://twitter.com/kryptogo_">Twitter</a> | <a href="https://instagram.com/kryptogo_">Instagram</a> | <a href="https://www.linkedin.com/company/kryptogo/">LinkedIn</a> | <a href="https://t.me/kryptogocom">Telegram</a>

在 KryptoGO Wallet 新發佈的多錢包管理功能中，可以其他錢包的資產透過私鑰導入進行連接！如果你不清楚導入時要選擇什麼鏈，這篇文章或許可以幫助到你

KryptoGO Wallet 多錢包新增或導入時，要建立在什麼鏈上？

How do I know what chain to create my wallet on when using KryptoGO Wallet? 

The cover photo of The Economist in September: DeFi is like a rabbit hole, mysterious but full of opportunities to become rich, making people both curious and scared.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/2_2b4453aaae/2_2b4453aaae.png" alt="圖片 2.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_2_2b4453aaae/thumbnail_2_2b4453aaae.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_2_2b4453aaae/small_2_2b4453aaae.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_2_2b4453aaae/medium_2_2b4453aaae.png 750w," sizes="100vw">Last year, the trading volume of decentralized exchanges has grown eight times more than centralized exchanges. What’s even more exciting is that according to the data on the chain, the number of DeFi users are only 2 % of Crypto users, and we can expect that there will still be a huge potential in the future.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/3_89617e6819/3_89617e6819.png" alt="圖片 3.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_3_89617e6819/thumbnail_3_89617e6819.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_3_89617e6819/small_3_89617e6819.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_3_89617e6819/medium_3_89617e6819.png 750w," sizes="100vw">In June this year, the trading volume of Uniswap once surpassed Coinbase.The reason why there are only few DeFi users is that DeFi has a huge fragmentation problem due to many assets and public chains. This fragmentation will lead to many problems. For example, we can’t track the performance o DeFi effectively. If we display our single asset allocation on different wallets, we may get completely different performance and asset balances.&nbsp;Even though performance management is difficult, funds are still pouring in. Bitcoin has grown sixfold this year, and DeFi is a hot spot among hot spots, and we’ve seen a thousandfold growth in the past 18 months.&nbsp;DeFi has shown an irreversible trend: the era of Web 3 is coming.&nbsp;However, before DeFi becomes popular, the biggest challenge is to face regulatory problems. After all, anonymous finance is a hotbed of crime.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/4_6906a8e85e/4_6906a8e85e.png" alt="圖片 4.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_4_6906a8e85e/thumbnail_4_6906a8e85e.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_4_6906a8e85e/small_4_6906a8e85e.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_4_6906a8e85e/medium_4_6906a8e85e.png 750w," sizes="100vw">Uniswap Labs were under investigation and “DEX” were on the US SEC’s radar.KryptoGO believes that compliance is the best way to bring out trust. As a manufacturer of Compliance as a Service, we allow our customers to focus on product development and leave the compliance headaches to us. In practice, all you need to do is submit a customer review request via API to our financial monitoring and investigation engine, and we will do the most complete due diligence from the aggregated data, identify features from these information, cross-check out non-compliant information, and automatically generate the risk assessment report. Customers can complete the complete customer identification (KYC-CDD) only by paying attention to the final review results.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/5_5cb24b957f/5_5cb24b957f.png" alt="圖片 5.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_5_5cb24b957f/thumbnail_5_5cb24b957f.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_5_5cb24b957f/small_5_5cb24b957f.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_5_5cb24b957f/medium_5_5cb24b957f.png 750w," sizes="100vw">Compliance as a ServiceIn the past, we helped banks comply with the highest standards through our DD engine, serving 25 overseas branches in 13 countries in the past six months.As you can see from the regulatory guidelines issued by FATAF last month, the reason why we have been advocating our own KYABC program in the past is because it is possible to meet the latest regulatory requirements by conducting due diligence on funds, natural persons and legal entities through our technology.&nbsp;Now, we are taking our technology one step further and bringing it to the virtual currency asset management platform, where we are addressing both the buy-side and sell-side issues. The Buy-side can easily find safe and trustworthy investment targets through the APP without any cryptocurrency basics; Sell-side can efficiently handle asset custody, investment subscription &amp; redemption, KYC/AML, automatic reconciliation, NAV calculation, compliance/regulatory reporting, and performance charts through our management backend. The management back office makes it easy to communicate with subscribed investors.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/6_7b8dcddcf1/6_7b8dcddcf1.png" alt="圖片 6.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_6_7b8dcddcf1/thumbnail_6_7b8dcddcf1.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_6_7b8dcddcf1/small_6_7b8dcddcf1.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_6_7b8dcddcf1/medium_6_7b8dcddcf1.png 750w," sizes="100vw">Help the seller set up and manage the Crypto Fund and expand the fund scale in compliance; Help buyers to help them explore reliable investment opportunities.There are a variety of complex programs on DeFi, which can be greatly simplified in our wallet.Our goal is to make DeFi easier, so that people can focus on investment and performance tracking, rather than just buying, selling and saving coins.You will no longer need to focus on which blockchain asset is being used as we can invest in the corresponding underlying and present the corresponding virtual pass-through asset.Virtual currency asset management will play a crucial role in the future of DeFi. Our wallet focuses on the investment in DeFi to help the seller quickly accept customers. We help the seller painlessly manage any assets, all you need to do is download our wallet and we will handle these things for you.Many people ask, “Why do we need to make a wallet now when so many exchange wallets are working so sell now?” Exchange wallets do not directly participate in defi, and most of the performance is paid to the platform. There may be dozens of wallets on your phone, but none of them can meet the demand for simple DeFi investment. This is a huge vacancy in the market now: you can easily participate in DeFi investments across chains with just one wallet.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/7_d8618806bf/7_d8618806bf.png" alt="圖片 7.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_7_d8618806bf/thumbnail_7_d8618806bf.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_7_d8618806bf/small_7_d8618806bf.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_7_d8618806bf/medium_7_d8618806bf.png 750w," sizes="100vw">Future virtual currency asset managementWe plan to invest more in wallets and asset management. The wallets for investors will be available on APP Store and Google Play next month, and the first compliant virtual funds will be available.We will combine KryptoGO's experience in traditional and virtual finance to create a Web 3.0 financial passport in a meta-universe, which I believe is a zero-trust society where the financial experience we used to be familiar with will be reinvented.<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/8_c39d068b38/8_c39d068b38.png" alt="圖片 8.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_8_c39d068b38/thumbnail_8_c39d068b38.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_8_c39d068b38/small_8_c39d068b38.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_8_c39d068b38/medium_8_c39d068b38.png 750w," sizes="100vw">We are looking for partners who share same goals to unlock the mystery of DeFi, feel free to contact us.

圖片 1.png

Last year, the trading volume of decentralized exchanges has grown eight times more than centralized exchanges. What’s even more exciting is that according to the data on the chain, the number of DeFi users are only 2 % of Crypto users, and we can expect that there will still be a huge potential in the future.

<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*KlEYXL-GeMDN7xTz4QK7Sw.jpeg" alt="" loading="lazy">經濟學人九月份的封面照片：DeFi 就像是兔子洞一樣，神秘但是似乎又充滿著各種致富機會，讓人既好奇又害怕。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*Jqo9xbvow9WferEkuapXEw.jpeg" alt="" loading="lazy">在過去的一年，中心化交易所的交易量，去中心化交易所更多達八倍的成長，更令人興奮的是，根據鏈上的資料顯示現在 DeFi 的使用者還只是 Crypto 使用者中的 2%，我們可以預期未來仍有巨大的爆發潛力。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*7bHblekJsv83gjRzxIF0BA.png" alt="" loading="lazy">在今年六月的時候 Uniswap 的交易量一度超越了 Coinbase之所以現在 DeFi 參與者還這這麼少的原因是因為 DeFi 因為很多的資產以及公鏈產生了巨大的碎片化問題。這個碎片化會衍生很多問題，例如：我們沒有辦法有效的追蹤 DeFi 上面的績效，我們如果把我們的單一資產配置放到不同錢包上面顯示，可能都會得到完全不同的績效表現與資產餘額。即使績效管理困難，資金還是一頭熱湧入。比特幣今年有六倍的成長，DeFi 更是熱點中的熱點，在過去的 18 個月我們帶來了一千倍的成長。從 DeFi 讓我們看到了一個不可逆的趨勢：Web 3 的時代即將到來。但是在 DeFi 邁向大眾之前，最大的挑戰就是面臨監管問題。畢竟匿名的金融就是犯罪的溫床。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*XoZFtuIHK7nDirtc6mwiQQ.jpeg" alt="" loading="lazy">Uniswap Labs 遭調查，美國 SEC 盯上「去中心化交易所」KryptoGO 相信合規是帶來信任的最佳方式，作為監管即服務（Compliance as a Service）的廠商，我們讓客戶可以專注在產品上面的開發，將合規的困擾交給我們。在實際應用上，只需要提交客戶審查的請求透過 API 發送到我們的金融監理調查引擎，我們會從多方聚合的資料裡面做最完整的盡職調查，並且從這些資訊中辨識出特徵、交叉排除不符合的資訊，自動產出風險評估報告，客戶只需要關注最後的審查結果即可完成完整的客戶身份確認（KYC-CDD）。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*1zReKtaBwOiVcUL5MOkh8A.jpeg" alt="" loading="lazy">監管即服務（Compliance as a Service）過去我們透過我們的 DD 引擎幫助銀行合規，在過去的半年中我們服務了 13 個國家 25 個海外分行，幫助最高標準的銀行合規。從上個月 FATAF 發佈的監管指南可以看出，為什麼我們過去一直提倡自己的KYABC 方案，那是因為：透過我們的技術針對資金、自然人、法人 做盡職調查才可能滿足最新的監管要求。現在，我們將更進一步將我們的技術帶到虛擬貨幣的資產管理平台上面，我們要解決買方以及賣方的問題。買方（Buy-side）可以在沒有任何加密貨幣基礎知識的情況下，透過 APP 輕鬆找到安全可信的投資標的；賣方（Sell-side）則透過我們的管理後台高效地搞定資產託管、投資的認購&amp;贖回、客戶管理（KYC/AML）、自動對帳、淨值計算（NAV）、合規/監管報告、與績效統計圖表，透過管理後台輕鬆地與認購的投資人溝通。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*U4xd8GFjGNfk8mPepGrUAA.jpeg" alt="" loading="lazy">幫助賣方設置管理 Crypto Fund，合規地擴大基金規模；幫助買方協助他們探索可靠的投資機會。在 DeFi 上面有各式各樣的複雜程序，都可以在我們的 Wallet 裡面大幅度地被簡化。我們目的就是要讓 DeFi 變得更加簡單，讓人們可以專注在投資與績效追蹤上，而不只是單純幣的買賣與保存。也不許要關注是哪一條區塊鏈的資產，我們都可以投資對應的標的，並且呈現對應的虛擬通貨資產。虛擬通貨資產管理在未來的 DeFi 將扮演至關重要的角色，我們的錢包著重在 DeFi 上面的投資，幫助賣方快速的接納客戶，我們協助賣方無痛管理任何資產，只需要下載我們的錢包我們就可以完成這些事情。很多人會問道，現在這麼多交易所錢包也都很好用了，為什麼我們還要做一個錢包？交易所錢包是無法直接參與 DeFi 的，並且績效大部份付給了平台。在手機上面可能裝了幾十個錢包，還是沒有一個能滿足簡單 DeFi 投資的需求，這是現在市場上巨大的空缺：只透過一個錢包就能輕鬆參與各條鏈的 DeFi 投資。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*P0YXLCVpIojBHbLibLRhxQ.jpeg" alt="" loading="lazy">未來的虛擬通貨資產管理我們計劃在錢包以及資產管理上面做出更多的投入，針對投資方的錢包在下個月就會在 APP Store 以及 Google Play 上面可以下載，並且上架第一檔合規虛擬通貨基金。我們將結合 KryptoGO 在傳統金融以及虛擬金融上面的經驗，在元宇宙的世界打造 Web 3.0 的金融護照，我相信，那是個零信任（zero-trust）的社會，我們過去所熟悉的金融體驗將被重塑。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*a4Aqd_YlPFJcqDO02nRHiw.jpeg" alt="" loading="lazy">我們正在尋找跟我們有相同目標的合作夥伴，一同解開 DeFi 神秘的面紗，歡迎聯絡我們。 &nbsp;

在過去的一年，中心化交易所的交易量，去中心化交易所更多達八倍的成長，更令人興奮的是，根據鏈上的資料顯示現在 DeFi 的使用者還只是 Crypto 使用者中的 2%，我們可以預期未來仍有巨大的爆發潛力。

為什麼我們要開發錢包：KryptoGO Wallet？

Why did we choose to develop KryptoGO wallet?

The "NFT non-fungible token" has been gaining attention at the beginning of this year and launched many derivative products with the characteristics of blockchain and virtual currency. In addition, Facebook recently announced that its name is changing into “Meta” to symbolize its entry into the metaverse, which affected many industries like fashion, music, sports, leisure and other fields to think about the layout of the metaverse. Companies that include Coca-Cola, Adidas, Gucci and many other brands.<h1>NFT: The pass to enter the metaverse</h1>We can imagine that the reliance of human beings on the virtual world in the future world will only increase day by day from the layout of each large company or the new technology of Web3, and this expected virtual world is also called – Metaverse.The transaction amount of the non-fungible token (NFT) market increased 261 times yearly to nearly $25 billion last year, and Profile Picture (PFP) projects: CryptoPunk and&nbsp;<a href="https://www.fox5ny.com/news/sotehbys-auction-digital-nft-bored-ape">Bored Ape have even auctioned off for more than $10 million at Sotheby.</a> Blockchain technology can be used to distribute NFTs for digital projects ranging from images to videos and even virtual world lands, and the boom last year made it easy for some publishers to make huge profits.Behind each different NFT avatar, there is a value of personal preference and belief. Because different NFT projects have different floor prices, these factors indirectly shape different consensus forms of "communities" in the metaverse. Twitter even launched a new&nbsp;<a href="https://finance.yahoo.com/news/twitter-enables-ownership-verification-profile-201811254.html">paid NFT authentication service</a> because of the craze of NFT avatars, which opened the future digital identity market.<img src="https://lh4.googleusercontent.com/LVgqd8UFdJJ3ORgMJcn7ovMH3pXs1irBpfQWRYA7-3ZMm_wcdlTUDxUZLDC2pzJ9wHdh8bm6l1ErikxBgTPsOvrgCxB-QXZ9juueWhrLA5h907ZO4Q3Tx8NG94B-x1tiVf6q2ZZ-0Uo_lOGrZYRJV2Musq-gansBSpZDUnyOy1xtDsrM0hZC2ULdUAhNjaIiTNowIwfNxg"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_N_Wx_Lvx_F0_Ja_Y_Lnm3h4v8_Mq_Q_ec91d62534/1_N_Wx_Lvx_F0_Ja_Y_Lnm3h4v8_Mq_Q_ec91d62534.jpeg" alt="1*NWxLvxF0JaYLnm3h4v8MqQ.jpeg" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_N_Wx_Lvx_F0_Ja_Y_Lnm3h4v8_Mq_Q_ec91d62534/thumbnail_1_N_Wx_Lvx_F0_Ja_Y_Lnm3h4v8_Mq_Q_ec91d62534.jpeg 190w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_N_Wx_Lvx_F0_Ja_Y_Lnm3h4v8_Mq_Q_ec91d62534/small_1_N_Wx_Lvx_F0_Ja_Y_Lnm3h4v8_Mq_Q_ec91d62534.jpeg 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_N_Wx_Lvx_F0_Ja_Y_Lnm3h4v8_Mq_Q_ec91d62534/medium_1_N_Wx_Lvx_F0_Ja_Y_Lnm3h4v8_Mq_Q_ec91d62534.jpeg 750w," sizes="100vw">Bored Ape Yacht Club (BAYC), source: Bloomberg.com<h1>NFT is changing the face of community marketing</h1>The biggest difference from the real world is that through blockchain technology, every transaction and behavior in the metaverse will be recorded. These trajectories and experiences are largely representative of each person's style and persona in the virtual world. Just as we use our favorite brands in real life, different NFTs can represent the values we believe in, the time we spend in the group, the amount of money we spend, and even create another unique brand on the NFT because of the actions of the owner.NFT provides a different perspective on the online community, helping each individual to build a personalized experience in the meta-universe through their own preferences and feelings together with the rest of their peers.In the future online world, we can foresee that users will use NFT virtual art creation as a medium to participate in virtual and real activities at the same time in a new way, just like the digital tickets and VIP passes we used in the past.The interesting thing about NFT, as opposed to traditional tickets and passes, is that each work has more and more benefits due to the participation of the community. The work can be extended to a variety of activities and products because of the community's participation, which in turn attracts more and more people. In the metaverse, each individual can express his or her preferences, beliefs and choices through his or her NFT collection, and this determines how he or she appears in the metaverse.NFT empowers the traditional model by creating commemorative value, secondary market mobility, and community consensus. We can clearly find the corresponding target audience through NFT projects or strengthen the community through the distribution of NFT projects.Community-oriented NFT teams often unveil their universes through the release of 10K avatars, such as DemiVerse, which is made up of Demi-Human, a fictional worldview with two races: mummies and humans.<h1>It is very difficult to prove that "you" are having the "original" NFT</h1>However, as more and more NFTs become available, pure images no longer attract people to buy them, so projects are planning different roadmaps to emphasize their applications on NFTs, whether it's GameFi, DeFi or various virtual and actual events that are held regularly to enhance the value of NFTs themselves and to bring the community together.This makes NFT artifacts into highly versatile tickets or passes, and NFT holders can enjoy the rights to participate in various activities. For example, only NFT holders can attend this offline party, NFT holders can enter Discord private chat rooms with specific identity requirements, NFT holders are eligible for airdrops, etc.Here's the problem: the current NFT encrypted wallet cannot support the complex online &lt;-&gt; offline scenario.Restricting that only NFT holders can join the offline parties becomes a headache during their entry: because<ol style="list-style-type:decimal;"><li>The real owner of the NFT is the blockchain address, and there is no way to know the relationship to the person in front of you, because the seed phrase is imported into multiple wallets, and the NFT can be present in multiple wallets at once. There is no way to know who holds it.</li><li>You can't tell if it's an NFT just by looking at the picture, or you see the picture and you’re sure it's an NFT, but you can't tell if it's the correct issuer.</li><li>If the wallet screen is a screenshot, then it creates a double-splash attack, and you can use this screenshot to repeat the entry at no cost. In this way there is no way to know if NFT rewards are being redeemed by the same NFT.</li><li>The cost of empty entry tickets for NFT holders is too high, so online questionnaires are often used to help, and this method is inefficient.</li></ol><h1>KryptoGO Wallet Perfectly Integrates Real and Virtual</h1>The scenario of integrating real and virtual will be very important for future NFT. If NFT is our pass in the metaverse, then this pass must be checked for ownership, just as we prove we have NFT in Discord chat rooms through Collab, and there is the same need in the real world.It is critical to have a good experience with the wallet to help verify ownership at both ends without conversion costs, and this is the unique verification mechanism of the KryptoGO Wallet, where flipping the NFT image in the wallet displays the corresponding QR code and this QR code signed these (listed below) by the individual's private key:<ul><li>Blockchain protocol issued by NFT</li><li>Blockchain address of the NFT collection</li><li>NFT Token ID</li><li>NFT owner address</li><li>Timestamp</li></ul>Only a scan allows you to redeem the corresponding benefits (e.g., an admission ticket), and we will also check that the above five messages are signed by the correct wallet holder to avoid forgery or double spend attacks.<h1>The First Lucky Bag NFT in the Metaverse</h1>In order to put our technology into practical application, we have jointly launched "The First Lucky Bag NFT in the metaverse" with Demi-Human, the largest NFT community project in Taiwan. A total of 6,666 Lucky Bag NFTs will be given away for free during the Spring Festival!Unlike other NFTs, KryptoGO Wallet has created the first "NFT exchange function" by opening the lucky bag NFT in the wallet and clicking on it, then presenting the QR code on the reverse side to the store for scanning to complete the exchange. The NFT empowerment can be truly realized in your life, from now on NFT is your VIP pass.The grand prize includes more than 20,000 items (total value more than one million), including Hanbilou 1-Park 2-Eat vouchers, Demi-Human NFT, RAW restaurant, iPad mini, Blackwall coffee 168 cups exclusive voucher, and Kaidon Yakiniku 24 exclusive vouchers for one year, etc., which will be up for grabs every night from New Year's Eve (1/31) to New Year's Day (02/03) at 21:00 (GMT+8).<img src="https://lh4.googleusercontent.com/VGaGlqwBFmzAHXF8nEwcBU0U_hnURpbLtOZmMAaVoylLb967lvqEtv0ECYSMdFLpsoAPnJV1va2FW5iHPc-ChzhvEX9tEoDr5UwEyE0Ozm663_HDAtzGzVxRECCda_Li-5C2-1ByJoz0led4HAjnRVd7CXdUrJoFHXc2tr_lLBO5W9porC0mpVYMWqMWp9dqqYZdqEglaA"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e/1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e.png" alt="1_6eoLY-ehvllxE0Oy-18fQw.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e/thumbnail_1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e.png 216w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e/small_1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e/medium_1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e/large_1_6eo_LY_ehvllx_E0_Oy_18f_Qw_2421896d5e.png 1000w," sizes="100vw">For more details:&nbsp;<a href="https://wallet.kryptogo.com/events/lucky-bag-2022">https://wallet.kryptogo.com/events/lucky-bag-2022</a>

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The "NFT non-fungible token" has been gaining attention at the beginning of this year and launched many derivative products with the characteristics of blockchain and virtual currency. In addition, Facebook recently announced that its name is changing into “Meta” to symbolize its entry into the metaverse, which affected many industries like fashion, music, sports, leisure and other fields to think about the layout of the metaverse. Companies that include Coca-Cola, Adidas, Gucci and many other brands.

「NFT 非同質化代幣」於年初逐漸受到關注，並搭配區塊鏈和虛擬貨幣的特性推出不少衍生性商品，加上 Facebook 近日宣布改名 Meta 象徵踏入元宇宙，影響不少產業，包含時尚、音樂、運動與休閒等領域皆開始思考元宇宙的佈局。從可口可樂、Adidas、到 Gucci 等品牌都參與其。<h1 style="margin-left:0px;">NFT：進入元宇宙的通行證</h1>不論是從各大企業的佈局或是 Web3 新的技術，可以想像到人類在未來世界中，對虛擬世界的依賴只會與日俱增，而這個大家所期待的虛擬世界又被稱作— 元宇宙。非同質化代幣（NFT）市場去年交易金額年增 261 倍至近 250 億美元，個人頭像 （Profile Picture, PFP）項目：加密龐克（CryptoPunk）以及無聊猿（Bored Ape）甚至在<a href="https://www.fox5ny.com/news/sotehbys-auction-digital-nft-bored-ape">蘇富比都曾經拍出超過一千萬美元</a>的價格。從圖片、視訊甚至虛擬世界土地等數位項目均可以區塊鏈技術來發行NFT。去年這熱潮讓部份發行者輕易賺取暴利。在每一個不同的 NFT 頭像的背後都隱含了個人的喜好、相信的價值，也因為不同 NFT 項目有不同的地板價，這些因素都間接地塑造了在元宇宙中不同共識形態的「社群」。Twitter 甚至因為 NFT 頭像的瘋潮推出了新的<a href="https://finance.yahoo.com/news/twitter-enables-ownership-verification-profile-201811254.html">付費 NFT 驗證服務</a>，這打開了未來數位身分的市場。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*NWxLvxF0JaYLnm3h4v8MqQ.jpeg" alt="" loading="lazy">無聊猿遊艇俱樂部（BAYC），擷取自彭博資訊<h1 style="margin-left:0px;">NFT 正改變社群的行銷樣貌</h1>與現實中最大的不同在於，透過區塊鏈技術，在元宇宙當中的每個交易、行為都將被記錄下來。這些軌跡、歷程很大程度的代表每個人在虛擬世界中的風格及人設。就如同我們會在現實生活中著用自己所喜愛的品牌，不同的 NFT 也能夠在虛擬的世界中代表自己所相信的價值、加入群體的時間、花費的金額，甚至會因為擁有者的行為而在 NFT 上建立出另一個獨特的品牌。NFT 在既有的網路社群基礎上提供了一個不同的視角，幫助每一個個體在元宇宙中透過自己的喜好、感受，與其餘同好共同建立個人化的體驗。在未來的網路世界中，我們可以預見使用者們將會更大限度的透過 NFT 虛擬藝術的創作作為媒介，以嶄新的形式同時參與虛擬與現實的活動，就如同過去的我們用的數位票券與會員通行證（VIP Pass）。NFT 之於傳統的票券與會員證，有趣的地方在於，每一個作品會因為社群的參與而有越來越多的效益。作品因為社群的參與可以有千變萬化的延伸性活動與產品，進而又吸引更多的人投入。在元宇宙中，每個人可以透過自己的 NFT 收藏來彰顯個人的喜好、信仰和選擇，而這決定了自己在元宇宙呈現出來的樣貌。NFT 對於傳統模式的賦能在於創造了紀念價值、二級市場流動性、以及社群共識，我們可以很清楚地透過 NFT 項目找到對應的目標客群，或是透過發行 NFT 項目來鞏固社群。以社群為導向的 NFT 團隊通常會藉由發佈 10K 頭像式作品來展開自己的宇宙，例如：DemiVerse 就是由 Demi-Human 所構成，在這個虛構的世界觀中，分別有木乃伊以及人類兩個種族。<h1 style="margin-left:0px;">證明是「你本人」持有「正確」的 NFT 非常困難</h1>不過隨著 NFT 越來越多，純粹的圖片已經沒有辦法吸引人購買，各個項目因此會規劃不同的路線圖 （Roadmap），在 NFT 上面強調他們的應用性，不論是 GameFi、DeFi 或是為了提升 NFT 本身價值並且凝聚社群定期舉辦的各種虛擬與實際的活動。這讓 NFT 藝術品變成了泛用性極高的票券或是通行證，NFT 持有者可以享有參加各類活動的權益。例如：持有 NFT 的人才能參加這場線下聚會、持有 NFT 才可以進入 Discord 私密聊天室具備特定的身份條件、持有 NFT 才具有空投資格等等。問題來了：現在的 NFT 加密錢包尚無法支撐複雜的線上 &lt;-&gt; 線下場景。光是限定 NFT 持有者才可以參與的線下聚會，入場就會非常頭痛：因為<ol><li>真正擁有 NFT 的是區塊鏈地址，無法得知與眼前這個人之間的關係，因為助記詞導入到多個錢包，NFT 是可以同時在多個錢包裡面呈現的。無法知道是否誰持有。</li><li>只看圖片，不知道他是不是 NFT；或是看到圖片也確定是 NFT 但是無法知道是否為正確的發行方。</li><li>錢包的畫面如果是螢幕截圖，那麼就會產生雙花攻擊，可以利用這個螢幕截圖無成本的重複進場。按照這種方式 NFT 的獎勵無法知道是否被同一個 NFT 重複兌換。</li><li>針對 NFT 持有者空投入場券的成本過高，因此通常會藉助線上問卷來協助，而這種方式的效率低落。</li></ol><h1 style="margin-left:0px;">KryptoGO Wallet 完美融合虛實兩方</h1>虛實整合的場景對於未來 NFT 會是非常重要，如果 NFT 是我們在元宇宙的通行證，那麼這個通行證就必須要檢查所有權，就像我們在 Discord 聊天室裡面透過 Collab 來證明我們持有 NFT 一樣，在現實世界也是有同樣的需求。有一個體驗良好的錢包可以協助兩端沒有轉換成本的做所有權驗證就非常關鍵，這就是 KryptoGO Wallet 獨有的驗證機制，在錢包中翻轉 NFT 圖片就會顯示對應的二維碼，這個二維碼透過個人的私鑰將這些訊息做了簽章：<ul><li>NFT 發行的區塊鏈協議（Blockchain Protocol）</li><li>NFT 集合的區塊鏈地址（Collection）</li><li>NFT 的代幣編號（Token ID）</li><li>NFT 持有人（Owner Address）</li><li>現在的時間戳（Timestamp）</li></ul>掃描即可兌換對應的權益（如：一張入場券），我們會同時檢核上述五個訊息是否由正確的錢包持有人簽章，避免偽造或是雙花攻擊。<h1 style="margin-left:0px;">元宇宙第一個福袋 NFT</h1>為了將我們的技術落實在實際上的應用中，我們與台灣最大的 NFT 社群項目 Demi-Human 聯名推出了「元宇宙第一個福袋 NFT」，總共 6,666 個福袋 NFT 要免費在春節送給大家！有別於一般 NFT，KryptoGO Wallet 首創 「NFT 兌換功能」，在錢包裡打開福袋 NFT 並點擊，將反面的 QR Code 交給店家掃描，即可完成兌換。將 NFT 賦能真正實現在生活中，從今以後 NFT 就是你的 VIP Pass。此次大獎有涵碧樓一泊二食住宿券、Demi-Human NFT、RAW 餐廳、iPad mini、黑沃咖啡168 杯獨享券、開丼燒肉一年24份獨享券等超過 2 萬個商品 (總價值超過百萬)，從除夕夜 (1/31) 到大年初三 (02/03) 每晚 21 點開搶 (GMT+8)。<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*6eoLY-ehvllxE0Oy-18fQw.png" alt="" loading="lazy">詳請參考活動頁：<a href="https://wallet.kryptogo.com/events/lucky-bag-2022">https://wallet.kryptogo.com/events/lucky-bag-2022</a>。<h2 style="margin-left:0px;">更多活動介紹</h2><ul><li><a href="https://demiversestudio.notion.site/Demi-Human-x-KryptoGO-ce5d9249ff1e42e8a7366a0aaf358fcf">Demi-Human x KryptoGO 虛實整合教戰手冊</a></li><li><a href="https://kryptogo.notion.site/Demi-Human-ac33101be1ec4a8b8ab1f1f4e149db23">Demi-Human 福袋空投活動常見問題</a></li><li><a href="https://kryptogo.notion.site/KryptoGO-NFT-8fde3d8243f34ea7b2296d0931a3915c">KryptoGO 新春福袋 NFT 活動相關說明與使用教學</a></li><li><a href="https://matters.news/@junlin5525/krypto-go-%E5%A4%9A%E9%8F%88%E6%99%82%E4%BB%A3%E4%BD%A0%E4%B8%8D%E8%A9%B2%E9%8C%AF%E9%81%8E%E7%9A%84%E5%8A%A0%E5%AF%86%E8%B2%A8%E5%B9%A3%E9%8C%A2%E5%8C%85-%E4%B8%8B%E6%96%B9%E6%9C%89%E6%96%B0%E6%98%A5%E7%A6%AE%E5%8C%85%E6%B4%BB%E5%8B%95%E8%B3%87%E8%A8%8A-bafyreifwhn7ymigoupvaqgmy2mhnj3uzti6iso2tsruuxublzxni6izjwi">KryptoGo：多鏈時代你不該錯過的加密貨幣錢包（下方有新春禮包活動資訊） — Shao-Huan (@junlin5525)</a></li><li><a href="https://vocus.cc/article/61ee2309fd897800014c2220">什麼!?元宇宙第一個福袋NFT上線了？而且不但免費MINT還免Gas fee？ | 方格子</a></li></ul>「元宇宙第一個福袋 NFT」白名單挑戰賽已經正式開始！所有人都可以由下面連結前往參加：<a href="https://gleam.io/U03JC/kryptogo-wallet-nft">https://gleam.io/U03JC/kryptogo-wallet-nft</a>&nbsp;34&nbsp;&nbsp;&nbsp;

「NFT 非同質化代幣」於年初逐漸受到關注，並搭配區塊鏈和虛擬貨幣的特性推出不少衍生性商品，加上 Facebook 近日宣布改名 Meta 象徵踏入元宇宙，影響不少產業，包含時尚、音樂、運動與休閒等領域皆開始思考元宇宙的佈局。從可口可樂、Adidas、到 Gucci 等品牌都參與其。

從元宇宙走入你的現實人生 — 談 NFT 身份象徵與所有權驗證

From Metaverse to Your Real Life: Let’s talk about NFT identity and ownership verification

<blockquote>Why isn’t there any DeFi Wallet that offers the same experience as FTX (Blockfolio)?</blockquote>FTX (Blockfolio) is a great centralized wallet that integrates currency trading, trading, custody, and asset performance tracking to price alerts quite well.However, it’s still a centralized wallet after all. In DeFi, It's no secret that DeFi portfolios are almost impossible to be accurately tracked down. The DeFi ecosystem is in its infancy and the various public chains and protocols make our DeFi highly fragmented. Different wallets show completely different balances and asset allocations for even the same portfolio. It has become an almost impossible dream to get accurate data.<img src="https://lh3.googleusercontent.com/ddi-A0YAkRHo_3Xu5XArBsbwi-Rpi32FB9Q7MPk_uwFNlUE2WCoqLszxG3riev__w6FeF0Ovi4tt9J4Zi_f-rfxyL_em2RbbK6entq5zwJo1ytJAxbhsDfbrck0g--K_FNJTiePObshJgTxgRX75nRgCkNa2iHEfy7SQiCVKGDuQumzz0ScQIB_UNPBptjBgvDVE4OLcDg"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d/1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d.png" alt="1_-j6lSjm61hwkwGFsuSZVEw.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d/thumbnail_1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d/small_1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d/medium_1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d.png 750w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/large_1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d/large_1_j6l_Sjm61hwkw_G_Fsu_SZV_Ew_912b479f7d.png 1000w," sizes="100vw">Different wallets show completely different balances and asset allocations for even the same portfolio (From left to right: Trust Wallet, MetaMask, Ape Board, Zepper)<h1>The return on a liquidity pool depends on three factors</h1>The most common investment at DeFi is to participate in Yield farming, and the return you get from investing in a liquidity pool depends on three factors:<ol><li>Asset prices at the time of supply and withdrawal</li><li>The size of the liquidity pool and the volume of transactions</li><li>The incentives and bonuses offered by the liquidity pool</li></ol>Compared to the two assets that provide equal value in the liquidity pool, investors may end up withdrawing a different percentage of assets than they originally pledged as the trading activity can change the price and volume of assets in the pool. Large price changes between the supply and withdrawal of either asset can result in losses compared to simply holding each asset individually in a 50:50 portfolio. This is the "impermanent loss" that has the greatest impact on investment returns when the movements of two assets are significantly unpegged.<h1>Tracking performance on a dollar basis can be distorted</h1>Let's start with a simple way to evaluate the return on an investment:saIn the financial world, the cost basis is the purchase price of an asset and is often used to calculate capital gains (the difference between the cost basis and the current market value). For DeFi assets, calculating the true ROI in this way is not necessarily the best option in a bull market.For example, what happens if you invest 10 ETH in the liquidity pool at the beginning of 2021 at $1,000 per ETH and then withdraw your investment at the end of 2021 at $4,000 per ETH? You should receive $40,000 plus the transaction fees you earned, assuming $2,000.The cost basis of your investment is $10,000, and the capital gain is $42,000 - 10,000 = $32,000.Now, if we're looking to determine whether or not the underlying is worth investing in, looking at capital gains may not be the best way to look at it.In another scenario, what happens if the price of ETH drops to $900 and you only earn $450 a year in trading fees?The value of your entire investment is $9,450 and your capital loss is $10,000 - $9,450 = $550.If we calculate the capital gain in USD, then obviously this is a bad investment when ETH goes down, but in fact, if we take the return in ETH, you get exactly the same in both cases: 0.5 ETH.<h1>When the price of your holdings rises sharply, your investments lose money</h1>Before we go on to explain the difficulties of tracking DeFi performance, let's start with the simplest example of a DeFi investment:Conditional Assumptions:<ul><li>When investing $10,000 USD, ETH = 4412.3 USD and Stud ETH can be bought for 2.27 ETH</li><li>We choose a group of LPs and invest half in ETH-USDC for yield farming</li><li>The bull market started after we invested the money, and when it was time to redeem ETH went up by 111.9% (9350.85USD)</li></ul>We entered the conditions mentioned above in this <a href="https://defiyield.app/advanced-impermanent-loss-calculator">calculator</a>:<img src="https://lh4.googleusercontent.com/oLlHnU472dJt18htWHW73SeeKZDz3f_K8gCx4WvIi2GLn0ugau2J5FQxvaQs38-c6zarIuLMt4Y9HbLl3TCMkGtm0fRBGZCUiFugQMLi3NnKfN9wmx2ED_q4euLfj9X7oqOA6X7CIIMzOoZRri5jG_9ccxtVaSRZY1O7WD-Lhcpiqgb4KSmqva1hrKTy_o678Dd_bzv59Q"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/frog_bb42509b94/frog_bb42509b94.png" alt="frog.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_frog_bb42509b94/thumbnail_frog_bb42509b94.png 198w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_frog_bb42509b94/small_frog_bb42509b94.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_frog_bb42509b94/medium_frog_bb42509b94.png 750w," sizes="100vw"><a href="https://defiyield.app/advanced-impermanent-loss-calculator">https://defiyield.app/advanced-impermanent-loss-calculator</a>The result:<img src="https://lh4.googleusercontent.com/0NHc9eHcU18EnX1LW7bcTvPbs_GjjSHbbGTUMJAySeOpi0EADKKQ7hHUkpwtfb9XupoZfUI69Da5bLTMF0R1kwDfj_4ED1N6wzwCfjsGwe1pomf3p2T4pMD4I4P_HZ7TRefjOStb9Mz3kz0EKirr4bQix6cw9N0a1d43V4aQF95kBjuhLiUJyXQ0WHOPRes43kCr4Iq-9g"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/form_9dba7299f1/form_9dba7299f1.png" alt="form.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_form_9dba7299f1/thumbnail_form_9dba7299f1.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_form_9dba7299f1/small_form_9dba7299f1.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_form_9dba7299f1/medium_form_9dba7299f1.png 750w," sizes="100vw">When ETH went up 111.9%From the table, we can see that due to the yield farming, the assets originally invested in each half are heavily tilted to USDC, and if we unlock the LP Token, we can only receive 0.8 ETH and 7119.42 USDC.If we immediately liquidate to USDC at this point, we can get9350.85*0.8 + 7119.42 = 14600 USD(Because the above table ignores the last two decimal places, so the specific figures are somewhat inaccurate, but this does not affect the final comparison)If we didn't participate in DeFi investment at the beginning, then by directly realizing 2.27 ETH, we can get9350.85*2.27 = 21226 USDIf we choose to exchange half of ETH and half of USDC but forget the LP Token, we can still get9350.85*1.135 + 5000 = 15613 USDIf we choose to exchange half of ETH and half of USDC but forget the LP Token, we can still get9350.85*1.135 + 5000 = 15613 USDAlthough it is true that we get a high annualized return of 46% from the APY perspective, we usually ignore the performance return we can get through the HODL holding strategy alone.The difference in performance between these two strategies is 21226-14600 = 6626 USD, which is about two-thirds of the principal amount.<h2>When evaluating your DeFi portfolio there are only a few concerns about the return on your investment.</h2><ul><li>Capital gains don't show you the return on the base currency: Capital gains only tell you how much you've made or lost, but they don't tell you how much you've gained by simply holding how many tokens you've won or lost (known in the coin world as HODL).</li><li>Different base currencies lead to different conclusions:&nbsp;In the example above, you can see that if we were to simply calculate the return on ETH, we would in fact get the same result whether it was up or down. Even if the cryptocurrency market suffers a loss in dollar value, you will still have the same amount of ETH to reinvest in other assets.</li></ul>It's important to decouple investment performance from the overall price movement of the market, as these small differences can greatly influence investor decisions and investment performance.<h1>Conclusion: Technical difficulties in tracking DeFi's performance</h1>The above scenario is relatively straightforward, as one of the assets is a stable currency. In reality, the liquidity pool can have many different variations, including multi-currency pledges and even single-currency pledges.Therefore, keeping strict track of the price changes of the invested assets, calculating the constant losses and judging the changes in the invested assets and the chain fees is the biggest key that really affects our final returns, and here's the hard part.<ul><li>There are multiple tokens, protocols, public chains, and commodities on DeFi. It makes DeFi more fragmented than CeFi, especially the platform coins. Because of the incompatibility of blockchain protocols, there may only be corresponding official wallets, and the assets are scattered everywhere. Once there is one missed, the account balance will be distorted.</li><li>The potential investment cost and miner's fee. Especially for the group LP Token, which is a waste with the current expensive handling fee. Without actuarial calculations and not enough investment capital, it is likely that the handling fee alone will eat up all the increase and reward.</li><li>Because most of DeFi's targets are token-based, some pledges or awards are given to&nbsp;Tokens or Wrapped Tokens that are not quite liquid enough in the open market, and&nbsp;the prices of these assets are often difficult to track.</li><li>If you use the APY provided by the project directly without considering the Boost condition and that&nbsp;these reward tokens do not necessarily have a valid price in the open market, then no matter how you calculate the number in the book, it will not be the same as the APY provided by the project. Also, the bonus tokens are not stable coins, so the APY will fluctuate constantly.</li><li>DeFi commodities are becoming more and more complex (e.g. DeFi 2.0). In many cases, we can't just look at the pledged revenue.&nbsp;Accurate calculation depends on how well you understand the commodity. For example, if you pledge ETH and CRV, the economic model behind it is completely different.</li><li>The mining, withdrawal, and selling of reward tokens (e.g., governance tokens): If the same pool is repeatedly reinvested at different times without monitoring the historical changes of the assets in the pool, it is almost impossible to calculate the overall performance return trend because the final total value can only be calculated from the price of the assets held in the wallet.</li></ul>"You want others’ interest; they want your principal amount.""If you don't know where your mining revenue is coming from, you're probably the mine.<img src="https://lh4.googleusercontent.com/-16mok2tPjGPRO95PjoESNHhwk-XIFUraSCBUKBpmNKd1uGvfy15SAEch9dvKUsIBg1NYa-chfGH3AWuLq7b9T4T4iXfcsnCcFihdJxHj0vhjR8pVvs-dJbeUcIOc1hBkNquC0dI2Yk3MrrEtHvbw8CkyCbvqE9JoQhsvJ5RKMieMeRXRS4gjbLFQlW0vU_YWmKoEG204w"><img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/spsbnblp_caad4d68fa/spsbnblp_caad4d68fa.png" alt="spsbnblp.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_spsbnblp_caad4d68fa/thumbnail_spsbnblp_caad4d68fa.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_spsbnblp_caad4d68fa/small_spsbnblp_caad4d68fa.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_spsbnblp_caad4d68fa/medium_spsbnblp_caad4d68fa.png 750w," sizes="100vw">53090% annualized return rateIf we are to effectively calculate investment returns, we cannot simply look at the APY provided by the project's liquidity pool, whose formula may not be transparent and is often overly optimistic in its APY figures, and in some cases even gives an annualized rate of return which you can only see it but can’t reach it to lure those suppressed people to get on board.

1_-j6lSjm61hwkwGFsuSZVEw.png

In DeFi, It's no secret that DeFi portfolios are almost impossible to be accurately tracked down. The DeFi ecosystem is in its infancy and the various public chains and protocols make our DeFi highly fragmented. Different wallets show completely different balances and asset allocations for even the same portfolio. It has become an almost impossible dream to get accurate data.

<blockquote>為什麼沒有 DeFi 錢包可以提供跟 FTX (Blockfolio）一樣的體驗？</blockquote>FTX（Blockfolio）是一個很好用的中心化錢包，將買賣幣、交易、託管、還有資產績效追蹤到價警示，做了相當好的整合。但那畢竟是中心化的錢包，在 DeFi 中，要準確跟踪所有的 DeFi 投資組合幾乎難於登天，這已經不是什麼秘密了。DeFi 生態系統剛剛起步，各種公鏈與協議讓我們的 DeFi 嚴重的碎片化，在不同錢包上可以發現即使是同一個投資組合，在不同的錢包上面卻顯示完全不一樣的餘額與資產配置，獲取準確數據成為幾乎不可能的夢想：<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*-j6lSjm61hwkwGFsuSZVEw.png" alt="" loading="lazy">同一個資產配置，在不同的應用上面卻顯示出不同的餘額（從左到右：Trust Wallet、MetaMask、Ape Board、Zepper）<h1 style="margin-left:0px;">流動性池的回報取決於三個因素</h1>在 DeFi 最普遍的投資就是參與流動性挖礦（Yield Farming），投資流動性池能獲得多少回報取決於三個因素：<ol><li>供應和提取時的資產價格</li><li>流動性池規模與交易量</li><li>流動性池提供的獎勵與加成</li></ol>與在流動性池中提供等值的兩種資產相比，由於交易活動會改變池中資產的價格和數量，因此投資人最終可能會取出與他們最初質押的資產比例不同的資產。與簡單地將每種資產單獨持有在 50/50 投資組合中相比，任何一種資產的供應和提取之間的巨大價格變化都會導致損失。這就是當兩種資產的走勢嚴重脫鉤對投資回報影響最大的”無常損失”。<h1 style="margin-left:0px;">以美元本位追蹤績效可能失真</h1>讓我們從評估投資報酬的簡單方法開始：在金融領域，成本基礎是資產的購買價格，通常用於計算資本利得（成本基礎與當前市場價值之間的差額）。對於 DeFi 資產，以這種方式計算真實的投資回報在牛市不一定是最好的選擇。例如，如果你在 2021 年初以每個 ETH 1000 美元的價格在流動性池中投資 10 ETH，然後在 2021 年底結束以 ETH 的價格為 4000 美元時取出你的投資，會發生什麼情況？你應該收到 40,000 美元加上您賺取的交易費用，假設是 2000 美元。你投資的成本基礎為 10,000 美元，資本收益為 42,000 - 10,000 = 32,000 美元。現在，如果我們要判斷這個標的是否值得投資的時候，從資本收益來看未必是最好的方式。換個情境來看，若 ETH 的價格跌至 900 美元，而你一年只賺了 450 美元的交易費，會發生什麼？你的全部投資價值為 9,450 美元，而你的資本損失為 10,000 - 9,450 = 550 美元。如果我們計算美元的資本收益，那麼當 ETH 下跌的時候很明顯這是一個糟糕的投資，但其實，如果我們以 ETH 計價回報，您在兩種情況下都會獲得完全相同的收益：0.5 ETH。<h1 style="margin-left:0px;">當持有的資產價格巨幅上漲的時候，投資反而造成虧損</h1>在往下解釋 DeFi 績效追蹤困難的之前，讓我們先以最簡單的 DeFi 投資案例來開始講起：條件假設：<ul><li>投入 $10000 美金的時候，ETH = 4412.3 USD，梭哈 ETH 可以買到 2.27 ETH</li><li>我們選擇組 LP ，各半投入 ETH-USDC 進行流動性挖礦</li><li>投入資金之後開始迎來的大牛市，要贖回的時候 ETH 漲了 111.9%（9350.85USD）</li></ul>我們在這個<a href="https://defiyield.app/advanced-impermanent-loss-calculator">計算機</a>輸入好我們上述的條件：<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/frog_bb42509b94/frog_bb42509b94.png" alt="frog.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_frog_bb42509b94/thumbnail_frog_bb42509b94.png 198w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_frog_bb42509b94/small_frog_bb42509b94.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_frog_bb42509b94/medium_frog_bb42509b94.png 750w," sizes="100vw"><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*Jv7FTM3ZpuRzalh5bpdduw.png" alt="" loading="lazy"><a href="https://defiyield.app/advanced-impermanent-loss-calculator">https://defiyield.app/advanced-impermanent-loss-calculator</a>計算後，得到以下這張表：<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/form_9dba7299f1/form_9dba7299f1.png" alt="form.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_form_9dba7299f1/thumbnail_form_9dba7299f1.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_form_9dba7299f1/small_form_9dba7299f1.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_form_9dba7299f1/medium_form_9dba7299f1.png 750w," sizes="100vw"><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*KoJv6cdoWgWB7kj-XkvuBg.png" alt="" loading="lazy">當 ETH 漲了 111.9% 時從表格中我們可以看到因為流動性挖礦的關係，原本投入各半的資產大幅傾斜到 USDC，如果解開 LP Token，只能領到 0.8 ETH 以及 7119.42 USDC。如果我們這時候馬上變現為 USDC，可以得到：9350.85*0.8 + 7119.42 = 14600 USD（因為上面表格有忽略小數點後兩位，所以具體數字多少有點誤差，不過這個不影響最後的對比）如果我們一開始沒有參與 DeFi 投資，那麼直接將 2.27 ETH 直接變現，我們可以得到：9350.85*2.27 = 21226 USD如果我們選擇 ETH 以及 USDC 各換一半但是忘記組 LP Token，還是可以得到 ：9350.85*1.135 + 5000 = 15613 USD雖然從 APY 的角度，確實得到了 46% 的高年化回報，但是我們通常都忽略了我們單純透過 HODL 持幣策略可以拿到的績效回報。而這兩個不同投資策略造成的績效差距為：21226–14600 = 6626 USD，約等於三分之二的本金了。<h2 style="margin-left:0px;">評估您的 DeFi 投資組合時僅關注投資回報的一些問題：</h2><ul><li>資本收益不會讓你看到幣本位的收益：資本收益只能告訴你，你已經賺或是賠了多少，但它不告訴你透過單純的持有贏得或失去多少代幣（在幣圈中稱為 HODL）可以得到多少收益。</li><li>不同的基礎貨幣會導致不同的結論：在上面的例子中，可以看出如果我們單純計算 ETH 的收益，事實上，不論漲跌都會得到相同的結果。即便加密貨幣市場遭受了美元價值的損失，但你仍將擁有相同數量的 ETH 以再投資於其他資產。</li></ul>將投資績效與市場的總體價格走勢脫鉤非常重要，這些細微差別可以極大地影響投資者的決定與投資表現。<h1 style="margin-left:0px;">總結：追蹤 DeFi 績效的技術困難點</h1>上述的情境下是相對單純的，因為其中一種資產是穩定幣。實際上，流動性池可以有多種不同的變化，包含多幣質押甚至單幣質押。因此，嚴格追蹤投入資產的價格變化，隨時計算無常損失，並且判斷投入的資產以及鏈上手續費的變化才是真正影響我們最後收益的最大關鍵，而這件事情難就在於：<ul><li>現在的 DeFi 上有多種代幣、協議、公鏈、以及商品，使得 DeFi 相比於 CeFi 有更嚴重的碎片化情況，尤其平台幣，因為區塊鏈協議的不相容，可能只能存在對應的官方的錢包，資產也跟著散落各處，只要漏了一個，帳戶餘額就一定失真。</li><li>潛藏的投資成本還有礦工費，尤其組 LP Token 在現在那麼昂貴的手續費情況下，就是一種浪費，沒有精算且投資資金不夠大的時候，很可能光是手續費就吃掉了全部的漲幅與報酬。</li><li>因為 DeFi 的標的多數基於代幣的，部份質押品或是獎勵都是給在公開市場上流動性還不太足夠的 Token 或是 Wrapped Token ，這些資產的價格通常難以追蹤。</li><li>如果直接使用項目方提供的 APY 計算，但是沒有考慮 Boost 的條件，加上這些獎勵代幣不一定在公開市場上面有有效價格，那麼怎麼算帳面上的數字都不會跟項目方給的 APY 相同。並且獎勵代幣因為不是穩定幣，APY 會不斷地浮動。</li><li>DeFi 商品越來越複雜（如：DeFi 2.0），很多時候不能單看質押收益，要做到精準的計算就依賴對該商品的了解程度，像同樣質押 ETH 以及 CRV，背後的經濟模型就完全不同。</li><li>獎勵代幣（如：治理代幣）的挖提賣：如果多次針對同一個池子在不同時間複投，卻沒有監控池子中資產的歷史變化，那麼要計算整體的績效回報趨勢幾乎不可能，因為只能透過錢包中持有的資產價格算出最終的總值。</li></ul>「你要人家利息，人家要你本金。」「如果你不知道你的挖礦收益來自何處，很可能你就是那個礦。」<img src="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/spsbnblp_caad4d68fa/spsbnblp_caad4d68fa.png" alt="spsbnblp.png" srcset="https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/thumbnail_spsbnblp_caad4d68fa/thumbnail_spsbnblp_caad4d68fa.png 245w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/small_spsbnblp_caad4d68fa/small_spsbnblp_caad4d68fa.png 500w,https://storage.googleapis.com/kryptogo-website.appspot.com/public/cms/medium_spsbnblp_caad4d68fa/medium_spsbnblp_caad4d68fa.png 750w," sizes="100vw"><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/1*ViRATSW9sBo0scO-LEVjtA.png" alt="" loading="lazy">53090% 的年化報酬率我們如果要有效地計算投資收益，不能單純只看項目方流動性池提供的 APY，其公式未必透明，並且通常是過於樂觀的 APY 數字，有的甚至只是為了吸引韭菜上車而給出了看得到吃不到的年化報酬率。

但那畢竟是中心化的錢包，在 DeFi 中，要準確跟踪所有的 DeFi 投資組合幾乎難於登天，這已經不是什麼秘密了。DeFi 生態系統剛剛起步，各種公鏈與協議讓我們的 DeFi 嚴重的碎片化，在不同錢包上可以發現即使是同一個投資組合，在不同的錢包上面卻顯示完全不一樣的餘額與資產配置，獲取準確數據成為幾乎不可能的夢想

錯誤追蹤少算 60% 收益，為什麼追蹤 DeFi 績效回報那麼難？

Mistracking undercounts revenue by 60%…  Why is it so hard to track DeFi's performance returns?

(This post is translated from <a href="https://medium.com/kryptogo/%E4%B8%80%E5%A0%B4%E5%B0%8D%E6%96%BC%E5%8D%80%E5%A1%8A%E9%8F%88%E7%9A%84%E6%80%9D%E8%BE%A8-66a77e241011">here</a>.)<img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/0*yRiu5KD-MaTrj0hk.jpg" alt="" loading="lazy">In KryptoGO’s TGIF meeting last week, we talked about judging faith in Blockchain. An internal debate for nearly five hours arose on the origin of belief in Blockchain. Do people put faith in blockchain because of the technology or is it all market speculation?Let’s say it’s because of the technology, then what is it about the technology that we believe in? During the debate, I was able to look at Blockchain through different perspectives. In the end, I wish to reflect on the reasons why I chose to start a Blockchain-based business through this article.<h1 style="margin-left:0px;">What exactly is Blockchain capable of?</h1>Let’s start with the fundamentals of Blockchain; How did Blockchain come to be? Blockchain is the crucial infrastructure supporting the Bitcoin network, we can think of it as an immutable and public distributed ledger. Blockchain and cryptocurrency are inseparable, which brings us several benefits:<ul><li>No Middlemen: Two parties can easily complete a peer-to-peer transaction without a need for intermediaries and third parties</li><li>Increased efficiency: Cryptocurrency has no borders, international transactions are much faster than SWIFT.</li><li>Safe escrow: Unless the private key for your cryptocurrency wallet is stolen or lost, assets will be safely stored on the Blockchain.</li><li>Transparency: All transaction records are fully recorded on the Blockchain ledger.</li><li>Difficult to arbitrarily inflate: Most cryptocurrencies have controlled supply (such as Bitcoin), and even if the supply is increased, it would be regulated and publically reviewed.</li><li>Low entry barrier: Compared to opening an account at a bank, there are almost no restrictions for creating a virtual currency wallet.</li><li>Privacy: Although all transactions are recorded on the ledger, the addresses are anonymous, and you can choose from a variety of cryptocurrencies to fit your needs.</li><li>Decentralization: There is no single organization, company, or government behind the Blockchain network to control it alone.</li></ul>It is impractical to discuss Blockchain and crypto separately. One of the most valuable parts of the Blockchain is that it utilizes economic incentives to solve the “Byzantine’s General Problem”.Solving the “Byzantine General’s Problem” in itself is an unprecedented achievement in computer science. One must possess knowledge in multiple fields such as mathematics, computer networks, cryptography, operating systems, compilers, economics, psychology, and even politics and law. That is why a number of people suspect that the founder of Bitcoin, Satoshi Nakamoto, is a group or an organization rather than a single person.<blockquote>The “Byzantine General’s Problem”: A group of Byzantine generals each leads an army to attack a city. The city is strong enough to defend itself against multiple armies, but not strong enough to defend against all of the armies at the same time. So the generals must vote to reach a consensus strategy, that is, all troops either attack together or all troops withdraw together. Because the generals are in different directions surrounding the city, they can only communicate with each other through messengers. During the voting process, each general will vote to either attack or retreat, information is sent through a messenger to notify all other generals. This way, each general may take action based on his own vote and the information sent by the other generals.This situation involves multiple parties that must agree on a single strategy in order to avoid complete failure, but where some of the involved parties are corrupt and may put out false information.</blockquote>There are also Blockchains that don’t have associated Cryptocurrencies. Usually, we refer to this technology as DLT (Distributed Ledger Technology). Corda and Hyperledger are classic examples of this.<h1 style="margin-left:0px;">Do we really need Blockchain?</h1>If we put aside irrational arguments and look at this from a scientific point of view. We should first consider the probability of the Byzantine General Problem occurring, if it has a very low chance, then Blockchain is not needed. In the past, decentralized databases and BFT fault-tolerant consensus algorithms are already great solutions to this problem.<h1 style="margin-left:0px;">When is Blockchain irreplaceable?</h1>After much debate, people often conclude with this question「If you say that Blockchain is suitable for a certain application. Why is that? And why can’t centralized technology solve this problem?」The answer to this is: No technology is absolutely necessary, just like no one forces us to use the TCP/IP protocol, and no one says that Git can do things that SVN cannot do (for example SVN + rsync). But people still use these services because of widespread adoption and the convenience and advantages that these technologies bring to the table.We can build technologies on top of existing centralized frameworks that may be similar to Blockchain. In fact, this has already been implemented by other companies such as Tencent. This enables us to build on existing communication protocols and explore different alternatives. In the end, for the sake of simplicity, this technology is likely going to be generalized to the Blockchain field.These are all general terms that may ultimately refer to technologies that: allows parties to participate in the verification process and browse the history of transactions that are on the shared ledger.<h1 style="margin-left:0px;">What is it about Blockchain exactly that we embrace? — The spirit of Open Source</h1><img class="image_resized" style="width:692px;" src="https://miro.medium.com/max/1400/0*58Y7l-z3TirD0B2j.jpg" alt="" loading="lazy">Photo Credit: <a href="https://en.wikipedia.org/wiki/Raising_the_Flag_on_Iwo_Jima#/media/File:Raising_the_Flag_on_Iwo_Jima,_larger_-_edit1.jpg">Raising the Flag on Iwo Jima — Wikipedia</a>This extends the question to “Where does the value of Blockchain come from?”. If “Blockchain” is not what we’re embracing, what is?This debate helped me think more clearly. The Blockchain that we highly admire and debate about, is actually a representation of the spirit of open source. If the Internet is thought of as a country, then the Blockchain would be the revolution that will lead us from monarchy to a democratic system. We can use this technology to realize the sovereignty of an open economy and retrieve digital data that is rightfully ours.Personally, if a website does not give me the choice of exporting personal data, it would seriously affect my willingness to use it, because once I start relying on this service or application, then I would be bound. It would be no different than being held hostage. The reason why Blockchain has the opportunity to become the cornerstone of the next-generation Internet is that, through it, transactions would be able to execute on a trusted infrastructure thus reducing the friction of value transfer.Maybe there will be a technology that is more advanced than Blockchain in the future. Even if this technology isn’t called Blockchain, (let’s call it Interchain for example), then Interchain would be the technology that I would value. The reason why Blockchain is so popular right now is simply that Blockchain is a relatively low-cost solution that creates a basis of trust for business transactions(the cost which has been amortized in the past ten years).I like the example that Blocktrend brings up in their Podcast. If a person’s schedule changes, we can easily transfer high-speed rail tickets, but for digital high-speed rail tickets, there is no way to do that unless the High-speed rail company is willing to implement this function into their APP. The biggest reason is due to the imperfect digital infrastructure. In the next generation of the Internet constructed by the Blockchain, theoretically, we should be able to truly own the tickets that we purchase.<h1 style="margin-left:0px;">Blockchain is also redefining the relation of production</h1>In today’s world, the relation of production is highly centralized. From governments to companies, labor and incentive models are hierarchical. In the Blockchain-based economic system, the incentive models are decentralized. For example, no central authority in the Blockchain network demands miners to act as auditors, but under a free market mechanism, people will be incentivized to audit the transactions as they are paid for their contribution by the network. The true value of Blockchain lies in its ability to disrupt the traditional hierarchical structure model, allowing everyone to reach consensus through code, rather than abiding by the rules set by a centralized authority.<h1 style="margin-left:0px;">Today the internet is much more like Disneyland</h1>Chris Dixon, of a16z venture capital firm, shares in <a href="https://breakermag.com/why-venture-capitalist-chris-dixon-is-betting-on-a-decentralized-internet/">this article</a> why they are focusing on Blockchain technology. “If I’m building a restaurant in Disneyland and Disneyland thinks I’m making too much money, they may raise the rent or change the rules.”(Note: Disneyland is a metaphor for centralized platforms/monopoly markets such as Facebook, Google or Apple.)In this era, building an internet startup is becoming more and more difficult. The obvious problems are already solved by the Internet Giants (platform companies), or they simply acquire startups that are relevant, giving businesses no chance to survive. Of course, it’s a different story for startups that are breaking technological advances. In the 21 century, it has become a competition for talents, and it’s getting harder for small companies to find good talents, although startups could look for funding to solve this problem, in the end, it becomes the chicken and egg problem.Blockchain technology can make it easier for start-ups to gain trust from the public and potential business partners. It also makes it easier for companies that are at the tip of the long tail to unite, relying on the strength of the masses to put pressure on these Internet Giants.Start-ups need to rely on Blockchain to breakthrough, but I don’t think anyone will specifically mention that they are a “Blockchain” company in the future, just like no one will say that they are a cloud computing company just because they do cloud computing. Or companies that use Excel calling itself a Big Data company, or using if-else functions and saying it’s AI.<h1 style="margin-left:0px;">So what exactly is a Blockchain company?</h1>The core technology of the Blockchain lies in the ability to design and develop the underlying Blockchain, exchanges, and wallets. Developing the underlying Blockchain represents that the company has a comprehensive understanding of the design of the Blockchain and has the ability to design a consensus mechanism for different scenarios to meet the needs. And as mentioned at the beginning of the article, if the Blockchain and Cryptocurrency are inseparable, the preservation of the assets on the chain (wallet) and transactions (exchanges) are indispensable.<h1 style="margin-left:0px;">What is the technology that’s going to disrupt the Internet Giants?</h1>The rising companies of the future are definitely not ones that build on an industry already existing on the Internet. It is like the digital encyclopedia, everyone imagined that at first, it was to scan and upload the traditional encyclopedia page by page and then index through OCR . Google wanted to do content search in books, but in the end, because the technology was impossible at the time, Google decided to start with a simple web page.Under existing conditions, the Internet Giant companies can instantly drive traffic. The integration of Blockchain technology would be a piece of cake. They wouldn’t have to do everything from scratch. They can directly integrate open source technology or directly connect to the Blockchain.The opportunities that lie in the future depends on whether we are willing or able to think of solutions that big companies aren’t capable of, or simply don’t have the flexibility to do. In the end, it’s a game of speed and the battle between David and Goliath.<h1 style="margin-left:0px;">If the price of Cryptocurrencies become regulated (or even drops to zero), would there be any interest left in Cryptocurrencies (Blockchain)?</h1>The reason why Blockchain has helped us build trust and reduce friction, is due to the accumulated trust Bitcoin has created over the past ten years. The value of Bitcoin is generally believed to come from transactions from the Dark Web. If this assumption is true, I don’t think that the value of Bitcoin will go to zero unless a devastating vulnerability is suddenly exposed. In addition, under the above-mentioned inferences, Blockchain will continue to be embraced by startups, thereby forming a force coming from companies that are on the Long Tail, also increasing applications of the Blockchain.Even if we only take governments and financial institutions into consideration. They have discovered that the Blockchain is a very efficient infrastructure for data exchange/transactions. Regardless of whether the Blockchain is centralized, the Blockchain can still solve the problem of trust and data exchange between multiple nodes. It can quickly construct a heterogeneous distributed network and speed up the exchange of information with each other. Banks will be able to make cross-branch and cross-border transfers quicker through the Blockchain, and the government can speed up the flow of data between departments. Therefore, if the Chinese government can implement this technology from the top down, I think it will greatly increase administrative efficiency of the public sector.<h1 style="margin-left:0px;">Twenty years ago, selling on the internet was illegal</h1>Marc Andreessen was an early participant in the Internet era and the creator of Netscape. In the Podcast, he shared his belief that the current state of Blockchain is comparable to the Internet from 1992 to 1993. Now youngsters under 30 may find it difficult to imagine this situation: In the early days, the Internet was used by a small number of people in the academic circle. The government and schools invested major resources for maintenance. According to the terms of use agreement, the Internet can only be used for personal, non-commercial use. If you violate this, you may be imprisoned. But what’s for sure is that administrators have the authority to kick you out from the network. Being banned from the internet — to people nowadays, it’s no different from being locked into jail.<h1 style="margin-left:0px;">The Internet was very difficult to use in the past, it was even considered as a mere playground!</h1>The mainstream public tends to believe that Blockchain is hard to access and difficult to understand. But we have to realize that the Internet was hard to access in the early days (even for those who are good at computers). It was 1996 when I first started to access the Internet. At that time, I relied on a modem to dial in to the Internet, but in earlier years, connecting to the Internet may be more complicated than buying Cryptocurrency!At that time, the steps to connect to the Internet were as follows:1. Go to a bookstore and buy a book about how to use the Internet: At the time, the internet was a trendy topic, so bookstores were filled with books about the internet.2. There is a floppy disk in each book, you must load the floppy disk to your computer, and then the floppy disk will take you through a very tedious series of instructions.3. You had to dynamically rebuild the entire computer’s operating system to add a network. If you accidentally make a mistake, you would run the risk of ruining your computer.4. Purchase modems, modem and computer configuration to cooperate with each other: this is about a 38 step process, you must be very careful.5. Register Internet Service Provider ( ISP ): But at that time you couldn’t Google on the Internet to see where to find the ISP. You had to get out a phone book, find an ISP in the yellow page , and then call him.From this article we can see that everyone was ridiculing the Internet at that time, but in 1994, the network traffic skyrocketed and the Internet began to become mainstream.<h1 style="margin-left:0px;">The world won’t end if Blockchain seized to exist, but it would be better off otherwise</h1>The ICO, IEO, and STO booms are indeed being dismissed by the regulators, as is the Cryptocurrency prices and the overall industry. But this does not affect the value of the Blockchain itself. From a technical point of view, regulation can never stop Bitcoin. A market cooldown is not a bad thing. When the tide recedes, we will know who are the ones swimming naked, who are true supporters of the Blockchain and who are just following the hype to get rich quick. The industry will move on when the bad actors leave the ecosystem.<h1 style="margin-left:0px;">A Better Internet ( Blockchain could make the Internet better )</h1>Just through the advertising industry, the Internet has produced high-speed economic growth. But what would happen if we embedded these real economic models and economic operations in the browser from the beginning?The revolution that is going to disrupt the industry won’t just happen in a few short years. Looking back at the past ten years of <a href="https://consensys.net/blog/news/the-decade-in-blockchain-2010-to-2020-in-review/">Bitcoin development</a> and the<a href="https://a16z.com/2019/05/07/seven-trends-in-blockchain-computing/"> seven major trends</a> in the future. I believe that this day will come as people become more conscious of democracy. &nbsp;

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In KryptoGO’s TGIF meeting last week, we talked about judging faith in Blockchain. An internal debate for nearly five hours arose on the origin of belief in Blockchain. Do people put faith in blockchain because of the technology or is it all market speculation?