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Blockchain is a fundamental innovation in the field of financial technology (Fintech). As the core technology of a new generation of distributed ledger technology (DLT) system, blockchain is considered to have broad application prospects in many fields such as finance, Internet of Things, commercial trade, credit reporting, and asset management. At present, blockchain technology is still in a stage of rapid development, involving distributed systems, cryptography, game theory, network...

...Identification is required before initiating a transaction, storing XGC, or generating and mining XGC. GreenCoinX identifies users and facilitates the collection of taxes by worldwide governments, thereby removing the two biggest barriers to widespread adoption of crypto currencies. In a Bloomberg TV interview in October, 2014 Bill Gates, the founder of Microsoft, when asked about bitcoin stated “The customers we’re talking about aren’t trying to be anonymous, they’re willing to be known, so bitcoin technology is key and you can add to it or you could build a similar technology where there’s enough attribution where people feel comfortable that this is nothing to do with terrorism or any type of money laundering.”