KYC Legal Overview
KYC Legal is a platform for user verification based on Blockchain technology, ICO which started in early December.
As you have already guessed from the name of the platform, the main purpose of this service is to provide confirmation of the client's identity, implemented on the basis of blocking technology. Such confirmation is carried out according to the KYC (Know Your Customer) technology.
To date, banks, fin. institutions and crypto-exchanges are forced to meet the requirements of the procedure for identity verification. In other words, the listed institutions must receive and verify information about their customers. Such measures are taken to reduce fraudulent actions in the financial market.
In any case, developers of the KYC.legal platform want to improve the procedure for verifying KYC / AML customer data. Instead of reusable confirmation of your data for various services, you can use the KYC.legal platform, where a lot of convenient tools are collected.
Service Benefits
The service opens a number of opportunities and benefits for both users and service providers:
1. For users:
- personal information remains confidential and protected by encryption;
- the user chooses which information about him to display on the service;
- verification of documents is possible using a digital signature.
2. For service providers:
- Verified user data;
- impossibility of getting on a fake or repetitive profile;
- meeting the requirements of the verification procedure of KYC.
The principle of the platform
The KYC.legal service is based on applications for the most popular mobile platforms. Users are invited to offer data through this service. Further all the information provided by users is checked by the employee of the company.
Crypto-currency exchanges, banks and other financial institutions can file information requests from users. Once the user confirms this request, his data is sent to the service server. The process of data verification usually takes no more than 30 minutes. All confidential data is encrypted and stored in the locker, and their copies are automatically deleted from the servers.
The cost of data verification varies from 10 to 50 dollars depending on the region of residence. Each data check is accompanied by a 50% reward from the total cost and is divided between the owners of the tokens and the users.
ICO Information
In total, the offer of KYC tokens was 42 million. 80% of the total number of tokens went to the ICO, 15% to the project team, and the remaining 5% - to additional costs.
The KYC token is compatible with the standard ERC20 token, which is implemented thanks to the Ethereum block. For 1 dollar you can buy exactly 1 KYC token.
Who is the creator of the project?
The founder of the project and the idea as a whole is Daniil Rausov, an entrepreneur with many years of experience in IT and developing various products for B2C. The project began to be created after the developers set themselves the idea of creating a global technical solution for convenient and quick verification of user data.
Also the project team includes Sergey Bekrenev (co-founder), Nikolay Evdokimov (strategic director), Artem Kharitonov (SRT), Evgeny Zotov (CEO), etc.
Conclusion about the platform KYC.legal
Official service documents state that every day about 100,000 users try to pass the KYC verification procedure. As it is not difficult to understand, all these users depend on the implementation of the data verification process itself, the speed of execution of all operations, etc. But, to date, there has not been a comprehensive solution for verifying user data, which the developers of the KYC.legal platform are trying to implement.
Service KYC.legal is trying to create a convenient ready-made solution based on blocking technology that would allow users to download all necessary information through the application, verify it, and then use it on all necessary platforms without going through the data verification procedure again and again.
For more detailed information about the project and the terms of participation, I recommend to visit the links below:
WEB page:https://kyc.legal/en
White paper: https://kyc.legal/WhitePaper-ENG.pdf
Author: https://bitcointalk.org/index.php?action=profile;u=104703