In the latest IT news, the Port of San Francisco, like many international ports and transportation hubs, is considering using digital currencies in its payment structures because it sees them as the wave of the future. Thanks to Marcus Andrade, who met with the port’s leaders in early September, it may soon be able to. Andrade is the software entrepreneur behind AML Bitcoin. He and port officials are currently in discussions looking for ways the port could utilize digital currency as a means of payment free from the taint of abuse and criminality historically attached to the concept. In his system – where the AML stands for Anti-Money Laundering – the digital dollars comply with standards used by the American banking community as set forth in The Patriot Act to keep terrorists and other criminals from using the global financial system to fund their misdeeds.
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“Digital currency creates economic and social possibilities that were not even imaginable 15 years ago,” Andrade says. “In the same way that the internet brings boundless opportunity to the remote corners of the earth, digital currency affords every person the chance to participate in the global economy, if they so choose. With AML Bitcoin, digital currency can now engage in mainstream commerce, taking its rightful place among traditional payment options.”
If Port of San Francisco adopts AML Bitcoin as a payment method, it would be a big step toward legitimizing digital currency. San Francisco is, along with Los Angeles/Long Beach, San Diego, Oakland and Seattle-Tacoma, on the front line in protecting the western United States from terrorism. As international ports that can be serviced by ships from any part of the globe, they have to be constantly on the watch.
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