Traceto.io ICO: A detailed Review & T2T Token Analysis
The Traceto.io and T2T token provide a centralized KYC network that gives a complete solution for business in the digital space by joining automatic ID verification with Block technology. With the latest explosion in the fame of the crypto market, the need for more efficient and streamlined accesses to KYC (Know Your Customer) is self-evident. The gape of anonymity inherent to tech makes the need for latest approaches to KYC even more vital.
Traceto.io Value Proposition
Traceto.io is a centralized virtual ID system for streamlining KYC processes. The parent firm behind the Traceto.io, CYNOPSIS Solutions, offers a tool of KYC product named Artemis that previously applied within the crypto gape by likes of ICON and KYBER for conducting AML and KYC processes on investors.
Artemis tool automates the on boarding, AML; KYC threats assessment and documentation procedures for clients. Building off existing item, Platform introduces Block into the system as a means to meet the boosting challenges presented by KYC in the virtual space.
PII (Personal Identification Information) is uploaded to the consumer, encrypted with an open key, and will primarily be saved on IPFS. Traceto.io introduces a liveliness part to conduct ID identification for consumers needing them to record a small video. Traceto.io utilizes face recognition in addition to a term signature of the content upload as a device to further make sure against the scam.
Traceto.io goal to include a sole system of centralized verification by a network of peers into the overall value score assigned to the virtual Identity of the consumer. An identifier is trusted users who stake token to gain the option to earn a token by performing KYC linked tasks. Identifiers undergo stricter background screening, checks, and ongoing due diligence. Identifiers also serve as gatekeepers to consumer data.
The info, saved in the safely encrypted vault, can just be decrypted by either the consumers themselves or the demander after getting permission from the Min range of identifiers. They themselves never have an approach to encrypted user’s info. Instead, they’re tasked with conducting a further level of due to diligence incorporated into the Social Value system of Traceto.io.
Identifiers perform an additional level of KYC via info that’s avail in the open domain, public records or via social media. Platform intends to utilize Social verification to supplement the usual procedure of KYC, as a step toward additional decentralization. The resultant value score will be included with consumer’s virtual ID.
The Traceto.io system will deploy several D-Apps to make easy the KYC network:
• Service Provider D-App: Permits a Service Provider to ensure KYC info and update status scores. The scores will be encrypted and place on to the chain. The platform will act as the primary Service Provider upon initiate of the network.
• User D-App: offers Users an interface to entrance the Traceto.io Network. The on boarding procedure begins when the consumer uploads his/her PII and passes the liveliness examination.
• Community D-App: Permits community identifiers to conduct social confirmation of novel users, apply to become an identifier, manage requests from Requester sides to sight user docs, and do other governance roles.
• Corporate Requestor D-App: provides business Requesters an interface to pay for consumers’ KYC demands and restore them upon expiry. It also offers entrance to KYC scores and consumer public keys.
The T2T is built on the ETH Network. Corporate Requesters buy KYC services to involved new users applying T2T. In order to turn out to be a Verifier, Users are also needed to stake a sure amount of T2T token. This stake will be a little primarily but boosts as the number of Verifiers and Users increases. Rewards to identifiers for doing KYC tasks are paid in the T2T token.
Traceto.io Opportunities and Strengths
Traceto.io is not being developed from scratch. With an accessible KYC product that’s already generating income, Traceto.io comes from a firm with a track record of achievement in its target field. With over fifty clients in the virtual space utilizing Artemis, there’s plenty option for adoption of Traceto.io.
A single promising joint venture that has previously been announced is with KYBER. It intends to utilize project as their values of conducting services of KYC. A high-profile addition such as this in the mark market could augur well toward the ever-looming query of adoption. Moreover, as ICOs carry on to emerge, a stable pipeline exists that could help Traceto.io obtain both novel users and enterprise consumers.
The Traceto.io team themselves are also highly alert of and on the front position of the authoritarian compliance matters that presently threaten the crypto Money market. A lot of legislators across the world are exploiting the absence of authoritarian oversight in the virtual space as a reason to press back alongside wider adoption. Traceto.io is the item of a group that has years of experience with economic compliance and authoritarian technology.
For further details, you can visit these links:
Website: https://traceto.io
ANN: https://bitcointalk.org/index.php?topic=2911588.0
Whitepaper: https://traceto.io/static/wp/traceto_Whitepaper_v1_34_11052018.pdf
Facebook: https://www.facebook.com/traceto.io
Twitter: https://twitter.com/tracetoio
Telegram: https://t.me/tracetoio
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