Will Traceto Solve the KYC Problem?

vertolet777 (35)in #traceto • 6 years ago

The KYC process has appeared not so long ago compared to other banking and financial markets protocols. Consequently, a huge number of users face the problems with the KYC during the registering in ICO. Documents are rejected on a random basis, sometimes you have to send the same photos several times.

The Idea and the Technology of Traceto

Traceto is a decentralized network of KYC, which provides a comprehensive solution for KYC for crypto-currency and blockchain companies using smart contracts and AI.

Traceto solves 4 important questions:

• Who are you? - Identification and verification of identity;
• Who are you not? - Disclosure of politically significant persons, persons under sanctions and terrorists;
• What did you do? - Monitoring of suspicious transactions, identifying the source of funds;
• Are you still who you say you are? - The client's activities may change with time.

In this way, Traceto Network will provide the first inclusive KYC solution from the real world for the virtual world.
It works like this: a client who wants to participate in the ICO is sent to the decentralized Traceto application, where he uploads the necessary documents and passes the KYC check. Further, this data is stored in DApp in an encrypted form, and the AI monitors the operations.

The following roles are involved in the process:

• Requester - the one who orders the users verification of his service (for example ICO, exchanger, etc.).
• User - the one who passes the KYC.
• Service provider - this function will be performed by Cynopsis.
• Community – the ones who conduct user verification, checking his social networks. They give access to user information by voting.

The entire process is paid by the customer, buying the Tokens T2T. The work of the service provider and community members is also paid in T2T.

traceto.io Token (T2T)

traceto.io Token (T2T) is an ERC 20 token. This utility token is the primary token used for traceto.io’s smart contract. The traceto.io Network charges Requesters T2T to obtain KYC services for their customers. In order to become a Verifier, Users are also required to stake a certain amount of T2T. At first, this stake will be small but it will increase as the number of Users and Verifiers increases. Invitation bonuses and rewards to Verifiers for performing KYC tasks are also paid in T2T.
Tokens can also be used to stimulate potential customers and partners and as a means of exchange for existing members of the traceto.io Network. T2T will also be used as a payment method if the components of the traceto.io Network are used by external networks.

Private Sale: 20 May, 2018
Ticker: T2T
ICO Token Price: 1 T2T = 0.0691 USD (0.00009 ETH)
Number of Tokens: 1 billion
Token for sale: USD $30,000,000
Soft Cap: 15 million USD
Hard Cap: 30 million USD
Accepted payment methods: ETH