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DAPS Crypto to replace PCI Compliant code used by Banks and Merchants

According to Bank info security, there are currently exposed payment cards: 5.8 million of them had chip-and-PIN protection from the Struggling European electronics giant Dixons Carphone has suffered a massive data breach, or what may in fact be two separate data breaches. If you Google “banks pci compliance exposed” you will see 791,000 hits that involves various stories of Banks and Merchants breaching Millions of payment cards data and that data is exposed however DAPS Scheme will eliminate this by hiding the origin and destination of the payment including the payment amount ( 791,000 banks and Merchants that suffered breach)(2018). This approach to cryptocurrency employs “zero-knowledge” proofs that prevents analysis of transactions or addresses. Since 2006, all card transactions in the U.K. made with a U.K.-issued payment card have required that the card include chip-and-PIN protection. The move took a big bite out of counterfeit and stolen card fraud, according to the UK Cards Association, but that card data it seems can still be exposed.

There are three ongoing steps for adhering to the PCI DSS: Assess — identifying cardholder data, taking an inventory of your IT assets and business processes for payment card processing, and analyzing them for vulnerabilities that could expose cardholder data. Remediate — fixing vulnerabilities and not storing cardholder data unless you need it. Report — compiling and submitting required remediation validation records (if applicable), and submitting compliance reports to the acquiring bank and card brands you do business with. PCI DSS follows common sense steps that mirror best security practices. The DSS globally applies to all entities that store, process or transmit cardholder data. PCI DSS and related security standards are administered by the PCI Security Standards Council, which was founded by American Express, Discover Financial Services, JCB International, MasterCard Worldwide and Visa Inc. Participating Organizations include merchants, payment card issuing banks, processors, developers and other vendors

Dixons Carphone says only card numbers appear to have been exposed in the breach. “The data accessed in respect of these cards contains neither PIN codes, card verification values (CVV) nor any authentication data enabling cardholder identification or a purchase to be made,” the company says. But the stolen card details could still be used to commit online fraud.

In addition “105,000 non-EU-issued payment cards which do not have chip-and-PIN protection have been compromised,” the company says. DAPS would customize each individual bank or merchant with their own private blockchain utilizing the most complete anonymity package in any protocol to date, with an on-chain solution to the “Trust Problem” that prevents such a fully-private network from being created. Our unique solution to the “Trust Problem” is called Proof-of-Audit, a first in the sphere. Any Bank or Merchant can contact DAPS located here: https://dapscoin.com/contact/


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