Traceto

Traceto is a decentralized application Know Your Customer (KYC)

Many crypto-currency companies today do not meet the KYC standards traditionally required for financial institutions. In addition, these companies most often simply do not have the opportunity to use the necessary tools and expertise to keep up with changing rules. The current KYC technology is considered not effective and rather expensive. Due to the complex passage of the KYC process, a fairly large proportion of potential customers are being screened out. The Traceto platform offers its solution to these problems, let's take a closer look.
What is Traceto

Traceto is a decentralized platform that simplifies KYC processes for crypto-cash enterprises. Instead of each company (ICO, crypto, etc.) conducting their own KYC, Traceto offers its services. That is, you transfer KYC to outsourcing, while saving money, and the process Know your customer is engaged by those who really understand this (get higher quality at a lower price. Yes, and it happens!). The platform can be used both for the initial KYC, and for conducting regular checks and monitoring of transactions, updating profiles to ensure compliance with current rules.
Objective of the project

Traceto.io aims to bring the existing KYC process to the revolutionary e-KYC process, trying to make it more efficient and easier with a virtual platform that will allow the decentralized ecosystem to comply with the provisions relating to this process. KYC standards in the crypto currency world are constantly evolving, and Traceto will use the experience of its parent company CYNOPSIS SOLUTIONS, which monitors compliance with regulations, offering technology to curb fraud and meet existing rules.

Problems and solutions

The existing KYC process has several problems, which makes it inefficient, long, tedious. What does Traceto offer us?

Use of digital forms of a uniform identification standard for all countries of the world. There will appear one universal structure (laconic, but complete in terms of information), which can be used for various companies.

Ensuring that the client does not fall into any of the categories: persons under sanctions, terrorists and those who finance them, persons who have a negative reputation in the media (relative only to the sphere of interest) or exposed politicians. So all users will be in the regulatory framework, and all illegal actions will be stopped.

After a while, profiles may become obsolete, so Traceto will monitor the update in accordance with the new international standards KYC, which already exist and will appear in the future. This will reduce the risk of fraud to a minimum.

Careful monitoring of customer transactions. All transactions will be checked for suspicious activity. Tracking the exchange of crypto currency is much more complicated than phiathic means, so many details were previously missed. The system that offers Traceto will not leave without attention a single detail.

On the one hand, we get companies that no longer need to spend time and money to conduct KYC, all the structures, resources, and so on, is provided by Traceto. On the other hand, customers of these companies, who no longer need to spend a lot of time on this process, which still can not be fully secured. Thus, each side wins.

How does it work

The network is based on the revolutionary KYC system, tested and accepted in accordance with the rules. There is an opinion that when it begins to function, the platform will convince the regulatory authorities that compliance with the rules is of great importance, and will offer "an ongoing process of due diligence".

Verification of an authorized person, political personality, who turned out to be outlawed and carefully screened by the media, will constitute the KYC process. Including intellectual contracts AI, Ethereum Blockchain.

Command

I can not help noticing that the platform was created by a team of true professionals who have been successfully working and developing in this field for several years.

ICO Details

Ticker: T2T
Platform: Ethereum
Standard: ERC20
Accepted for payment: ETH
Sale for early access: May 21

Traceto charges tokens for providing KYC services from its customers. To become a verifier, users also need to pay out a certain amount of T2T. At first the rate will be low, but eventually it will grow (more users of the platform, higher rate). Various bonuses and rewards are also paid tokens. Tokens can also be used to stimulate potential customers or as a means of exchange for existing traceto network members.
Conclusion

Among the existing problems of the KYC process are data security, lack of effectiveness