TRACETO.IO: AN EFFICIENT WAY OF PERFORMING KYC PROCEDURES

KYC (Know your customer) is becoming increasing popular in every industry. If you are actively involved in cryptocurrency, the phrase is not new to you. But as a new user, you might be wondering what it means. KYC is the process where businesses makes an attempt to identify and verify the identity of its clients. Recently, most genuine ICOs requires you to scale through the KYC process before you are allowed to purchase their tokens. This is necessary as it is a way for preventing fraudsters and dubious people who are involved in money laundering activities.

To be KYC compliant, most organizations request for personal details and identity verification to be submitted for appraisal. After submission, a group of people carefully selected by the organization will go through all the documents submitted, to ensure you are a law-abiding citizen of whichever country you are resident in. Every country has its own KYC requirements. Traditional method of carrying out KYC in organizations is saddled with many issues.

I remember the first time I had to go through a KYC process. I was very scared because I did not know why the organization needed my details. I was also worried that my private information might be leaked out to the public. It actually got to a point while filling the KYC form, that I wanted to quit the entire process all together. This is not peculiar to me. I have spoken to a lot of people that do not also feel comfortable, participating in KYC procedures. To be honest, If this lack of trust in the KYC process continues, the procedure will lose its value. Most compliant citizens will try to bypass the system and this might be bad for business, as it would lead to a reduction in the number of clients that should naturally patronize the business.

The Traceto.io platform was built to appease these pain points. Based on its own KYC framework, traceto.io will develop a network that satisfies legal regulations in the real world. By building this framework on the blockchain technology, It is able to make use of the advantages of smart contract, ensuring that each party does their duty as agreed upon. It also uses Artificial Intelligence to ensure compliance with regulations.

How does traceto.io work?

All users are required to upload documents on the traceto.io decentralized application. Since the traceto.io is a decentralized platform, users are in total control of their privacy. A user is required to approve anyone who desires to view his information. That’s the beauty of decentralization. Once the data owner permits the traceto.io to access these documents, the traceto.io KYC provider and the Artificial Intelligence algorithm on the network will have access to view the data.

It is preferable to use traceto.io network as It offers a top-notch security for data storage. It is an Ethereum compatible platform armed with anomaly detection and facial recognition, as a means to communicate with its community. Asides from its super leading edge in technology and invention, Its team members likewise have years of experience operating as successful regulators and auditors. Fintech experts and data scientists are also members of the team. The team for me is a plus. Several of their team members have also worked on past projects which are successful right now. So I trust that this would not be an exception.

Why should you buy the tokens and what do you stand to benefit if you invest in this project?

Well, for one, there is the guarantee of privacy and total control over your information. This is very important for every client out there. Because, if your data were to get into the wrong hands, it could be implicative and character damaging in the long run. Considering the rate at which several projects are being launched daily, the traceto.io token will be in constant demand by the time the platform comes online. This will eventually increase the token value for token holders.

The traceto.io is backed up by important bodies. One of such is the Cynopsis Solutions Pte. Ltd. It’s a RegTech company that has its roots in Singapore. Ooi Gene Yan and Dias Lonappan are also shareholders in this project. This is good for the traceto.io project. It’s also in partnership with several successful projects such as FintruX, kyber network, Policy Pal Network, Signum Capital and so many others.

There is a popular saying that "show me your friends and i will tell you who you are". Traceto.io has confirmed the authenticity of that statement. Armed with over 450 clients, they stay exceptional. Most ICOs only make promises and eventually do not fulfil it. But for traceto.io, the case is different as they already have customers such as Icon, Kyber Network, Tomochain, Qlink, IOTex, Zilliqua, amongst others on their network. This is a great edge for the project.

Token information
The token to be used on the platform is the T2T. It will be used to conduct transactions and pay fees on the platforms.
Ticker: T2T
Token type: Utility token
Total token supply: 1,000,000,000 T2T
Token for sale: 400,000,000 T2T
Accepted Currency: ETH
Private Sale: February 9th, 2018 – June 1st, 2018
Public Sale: June 2018.

Token Distribution