The Problem:

If you are familiar with the scope of Know Your Customer (KYC) then, you might be familiar with its lack of scalability and long-term solutions. There was a need for incorporation into a system which would not only generate ideal solutions for the enterprises established in a cryptographic space but, also improve its corresponding features.

Traceto and T2T was introduced for enabling the KYC networks with an automated identity corroboration, which combined with blockchain technology, excels in garnering long-term solutions for the concern as discussed above.
It is no wonder that the significance of cryptography markets has proliferated over the years, which has accelerated the requirement of a standardized approach to deal with the recurring issues in the KYC field. The incorporation of Traceto and T2T fulfills the need for developing a latest approach which deals with these inveterate issues.

Traceto has played a vital role in enhancing the infrastructure prevailing in a cryptographic industry, and it uses its relevance with blockchain and RegTeg to cater to a specific target market and leverage the records in those segments.

The Solution:

Traceto is known for its digital identity system that is focused on further facilitating the procedure encoded by KYC. The parent company, Cynopsis Solutions, has introduced software products on the terms of KYC, which are known as Arithemis. Arithemis constitutes to make an excellent cryptographic space for ICON investors, which drive them to implement the Anti-Money Laundering (AML) procedures to deal with a certain array of problems.

In return, Artemis determines the documentation process and risk assessment for its users, and AML, KYC, and Traceto contributes to their individualistic features into the blockchain system for solving the problems, as determined by KYC in the cryptographic space using the available products.

The main objectives of *Traceto are geared on the functioning of an ownership system, which takes distributed verification into its account before proceeding further to the next step. The verification is entrusted by the peer’s network and it works in accordance with the user’s digital ID.

The verifier, in this case, is always a registered user who allows the T2T to carry out the tasks related to the KYC to obtain the T2T tokens simultaneously. The verifier is provided a pass using a systematic screening process, and it also enables the verifier to permit the flow of user data in the system.

The verifier also accomplishes various processes involved in KYC by means of public records, and it requires him to look into the information stored in the public domain. The purpose of assembling and evaluating data for social verification allows the verifier to proceed to the decentralization phase of the KYC process. He will earn a reputation score in the meantime, which would be contributed to the user’s digital ID for additional purposes.

Features:

It should be noted that the Traceto comprises the following components in its structure:

• User DApp:
  The user DApp enables the users to execute an interface which serves as a bridge to the Traceto Network.

• Service provider DApp:
  The objective of institutionalizing a Service Provider DApp is based on determining the KYC information and upgrading the reputation score as per the current progress. The score is further encrypted and stored in a chain.

• Corporate Requestor DApp:
  The Corporate Requester DApp is based on executing an interface which enables the users to pay for the KYC on behalf of the Corporate Requestor, and it also renews the expiration date of the system in a timely manner. It also allows you to evaluate your KYC score and user public key for additional purposes.

Learn more about Traceto.io here:

Website:
https://traceto.io
Whitepaper:
https://traceto.io/static/wp/traceto_Whitepaper_v1_35_en.pdf
ANN Topic:
https://bitcointalk.org/index.php?topic=2911588.0
Telegram Chat:
https://t.me/tracetoio