The ideology of a good business environment is the one that communicates trust and the one that offers the best security to all users, both active and passive.
The exchange platform for all business sphere has of recent been clouded with lots and lots of influx of illicit use of the platform for illegal trading and money laundering activities.
Recently, I watch a documentary that showcase various money laundering bust operation in the united states and Mexico border. Million upon millions of dollars are being seized daily and monthly, and this has led to the creation of alternative pattern to the process of moving assets abroad.
Now, the group of people called ‘money cleaners’ get all the illegally acquired money and pump them back into the business sphere. Most of the so called money cleaners use the platform of buying stock exchanges and purchasing company shares, and den transfer the ownership to the intended person for which the money is actually meant for.
But due to the government clamp down and strict regulation following stock exchange, the scope of money laundering has been shifted to the freshly emerging cryptocurrency market.
It was noticed that, some group of people convert money to cryptocurrencies and transfer the equivalent to offshore users who den liquefy such assets and thereby facilitates the money laundering scheme.
Also, terrorist group have since focus on use of the crypto platform to transfer money securely to third party operation groups and there by finance illegal activities in foreign soil.
All of this and many more atrocities plaque the market of cryptocurrency which is still in her infancy level and still beginning to gain worldwide acceptation from various government of the world. So the need to really cleanse the platform before its clogged with lots of bad figures.
The introduction of KYC compliance, is a game changer. It is similar to the ones done in the stock exchange and in the banking sector, and so it’s been applied to the cryptocurrency platform activity also.
Now, all users of the platform need to be formally and originally known and verify using valid documents and address system, and all illegal and negative influence group can be safely kicked out of the system.
The ecosystem of cryptocurrency saw a major boost, towards the end of the year 2017, and the growth is still bursting the more, more need stricter decisions, like this needs to be made now while the foundation is still being laid firmly.
But multiple problems faced the process of validating of client during the KYC process and over time has been a bane of contention to all parties involved.
Problems such as
No available data source for effective verification
The tedious and repetitive nature of KYC identification for different projects
Lack of resource person in the company to be focus on verifying client ahead of time, as client wish t trade in real time or purchase tokens at good price during ICOs
All of this and many more has been a source of go slow for the KYC adoption and use by all companies, and that why Traceto.io has come into the sphere to ransomed all back.
Traceto.io is a Blockchain traded platform that seeks to help all companies during ICOs or otherwise to verify their client or investors, with just two clicks and uploading of document.
The document is verified and effectively stored in a reproducible format, that on the order of the owner, can be made available to various companies.
Now KYC is not going to be hindrance to all project or investors, as all through the vision of traceto.io will be verify and quickly.
Traceto platform ran with the use of T2T token will be the solution to all KYC evaders and burden thereof.
For more information and to get the token, visit
Website http://traceto.io
Telegram https://t.me/tracetoio
ANN thread https://bitcointalk.org/index.php?topic=3439768.0
