With the increasing number of KYC procedures for ICOs this Project, KYC, is one of a kind. This is really undervalued and under the radar right now. This should be way hotter. Some of the most important ICO's of last year required KYC procedures. This market is new and growing and with almost no competition. Keep in mind the ICO and cryptocurrencies are not yet mainstream. Imagine this in 2 years!
So in this blog post I want to review this project and why is it a good investment. So KYC as you have already guessed is a identity verification platform on the blockchain. They aim to create a unique, fast and painless "Know Your Customer" Process. Also they incentivized the holding of the token by offering the opportunity to use the tokens for actual KYC processes.
So lets talk a little bit about this. First a small image on how the process works:
The actual tool to be used will be an app(IOS and Android of course) every stream of data inbound and outbound will be SHA3 secured, which stands for Secure Hash Algorithm 3 and is the latest SHA standard.
Now for the incentive part of holding the token. So the a token holder can choose to store the tokens in a "Stack" on the KYC platform. The token holder then will create a referral code for his/her stack and use it to pass on users which need KYC. The token holder will then establish a revenue split ratio between him/her and the user, except 50% of the sum which goes to the agent which executes the KYC. Here a graphic representation:
More on this in the white paper.
Keep in mind that the verification through an agent is optional. Normal is done through their platform and app(automated).
They plan to launch the product in the first quarter of 2018 and to aquire 10.000.000 users by the end of the year. Also they have a huge marketing plan which covers the whole world, key is November which covers Japan and South Korea.
The Team of KYC.legal is vast, mixed and experienced with many good and experienced advisors. And the best thing they are all traceable and have LinkedIn and / or personal websites.
The KYC Token is an ERC-20 utility token, and right now the price is 1.55 USD per token. The ICO ends on 1st of March 2018 with a price of 2.5 USD per Token or when the hard cap is reached(35.000.000 USD). Max supply is 42.000.000 KYC. You can buy it with ETH, BTC and fiat. Keep in mind that soft cap was long surpassed. Right now they have raised over 12.000.000 USD.
The allocation of Tokens is as follows(out of the 42.000.000):
80% for the ICO(investors)
20% for the KYC.legal Team (15% for the team and 5% for ICO operational costs)
Here is a small explanation of how the funds will be used(taken from the white paper):
So hurry up and invest in this amazing and one of a kind ICO, right now it is at discounted rate and with already more than 12.000.000 USD raised.
Here some helpful links:
website: https://kyc.legal
ICO: https://kyc.legal/#tokenSale
white paper: https://kyc.legal/WhitePaper-ENG.pdf
telegram: https://t.me/KYCLEGAL
twitter: https://twitter.com/KYCLegal/