Introduction
There is a need for proper verification against fraud and scam as the cryptocurrency market grows. Know-Your-Customer process has been a daily part of the ICOs conducted by new crypto project to guide against Counter Terrorism Financing (CTF) and Anti Money Laundering (AML) but this process has been inconsistent as it has not been generally adopted due to;
- A low priority
- A false assumption
- A lack of proper budget by said companies to commence a KYC processes.
The traceto.io KYC framework has proposed a way to override the current KYC current challenges by addressing 4 fundamental questions that defines how a company should know their customer.
- Who you are?
- Who are you not?
- What did you do?
- Are you still who you say you are?
What is traceto.io
Traceto.io uses artificial intelligence and smart contract to offer KYC solutions to the cryptocurrency market. It is a decentralized digital KYC network that gives the community the ownership management, and control of KYC processes.
How It Works
Traceto.io provides a decentralized application (DApp) through which you can get to the traceto network. KYC process begins the user uploading his personally identifiable information and pass a test (liveliness). This identity is then encrypted and secured.
For a start, traceto.io will focus on solving CTF and AML problems which is the main concern for many cryptocurrency projects.
Token
The T2T token will be an Ethereum blockchain based (ERC 20) which will be the official token of the traceto network. The token will to access KYC services and or to become an identity verifier on the traceto.io network. The more people adopt and use this network, the more the value off T2T token.
ICO details
Token symbol: T2T
Total tokens: 1 billion tokens
ICO supply (private & public): 400 million tokens
Hard cap: 35000 ETH
Price/Conversion rate: 0.0000875 ETH
Conclusion
The T2T token is a utility token which will be used by ICOs and other companies to validate identity and other KYC procedures.
Traceto.io team has an experience in identity verification already as the parent company is already handling KYC procedures for companies like ICON. This points are good for a would be investor as you will be investing in a use case token.
For more information about the project, please visit the following links:
Website: https://traceto.io/
Whitepaper: https://traceto.io/static/wp/traceto_io_whitepaper_0902_v1_26.pdf
ANN/Bounty thread: https://bitcointalk.org/index.php?topic=3439768
Telegram: https://t.me/tracetoio