Traceto ICO

Today, almost all adult populations in the civilized world are faced with verification procedures. Client identification, identity identification, is a mandatory part of the banking system work. In other words, a verification procedure called the KYC procedure knows your customers (know your customers).

In this case, KYC is obligated to perform any institution working with client funds, engaging in transfers, deposits, investments, or other financial transactions. This applies not only to individuals, but also to legal entities. It is believed that such verification prevents money laundering, obtained through criminal means and financing terrorism.

Let us put aside the effectiveness of such a method of struggle, we emphasize that this is a worldwide practice and manifested through international organizations, such as the FATF (the Financial Action Task Force on Money Laundering), is an intergovernmental organization dealing with world standards in the field of washing money and terrorist financing.

Countries that join the FATF Declaration should develop national legislation on laundering and financing of terrorism, for example, in our country adopting anti-money laundering law "On Neutralization for legalization (laundering) of proceeds of crime and terrorist financing" from 2001/08/07 №115-FZ Rosfinmonitoring oversees this topic.

KYC on the cryptocurrency market

Around since September 2017, especially after China banned ICO, and the SEC (US regulator) , began to monitor fundraising by means of ICO, KYC began to do on kriptovalyutnymi fundraising and trading projects on the kriptovalyutnyh stock exchange.

Today, almost 99% of ICO is done through verification in one way or another. Investors are charged with documents required by their identities without hesitation, that these procedures are usually done not team projects, and submitted to specialized organizations.

Cynopsis Pte. Ltd. , is widely known in Singapore's narrow circle of companies, which reduces the cost of doing business for financial and professional market participants. Specifically, in terms of compliance with KYC requirements, many startup fiintech are Cynopsis Pte subscribers . Ltd.

Token will be released in ERC20 format and will not be planned in the future, which, incidentally, is almost useless in this case.

T2T is required for payment for traceto.io service, and therefore the economy of the tokens is guaranteed.

Traceto has identified and solved four important issues:

1. Who are you? - Identification and identity verification;
2. Who is not you? - Disclosure of politically significant people, people under sanctions and terrorists.
3. What are you doing? - Monitoring suspicious transactions and identifying sources of funds;
4. Are you still who are you? - client activities may change over time.

In solving this problem using Intelligent Contract and Traceto Networks Artificial Intelligence provides the first real-world exclusive KYC solution for the virtual world.

All of this works as follows:

Clients who want to participate in ICO are sent to the Traceto app, where he downloads the necessary documents and passes the KYC checks. Furthermore, this data is stored in dAPP in encrypted form, and AI
Monitors the operation and performs the remainder of the declared function.
An estimated increase in the number of ICO projects, strengthening and tightening of the norms of KYC and AML, and hence the demand for verification services.

As already stated at the beginning of this story, the market has grown considerably. In addition, KYC's niche is very popular and competitive. As a result, the new company must spin and try to be at the forefront, and therefore with decent work, all beginner companies have a chance to succeed. In particular, Traceto's chances are somewhat larger, due to the work experience already done and the loyalty on the part of the blockbuster project. I believe that after a few years, Traceto will become one of the top companies in this segment, which will allow tokenholders to increase their capital.

Traceto.io market is quite specific, niche, but in fact all ICO projects and kriptovalyutnym exchange requirements KYC should be noted. The added value to the traceto.io project is the fact that the parent company has long been in the market and has a solid stake on it. There are competitors, especially this Civic (with a capitalization of $ 133m), Thekey ($ 87m), Selfkey ($ 21m).

As you can see, collecting on the ICO 35000 ETH is about $ 24m, seems to pretend to be a place above the Civic, a traceto.io sign has a good potential for growth. On the white paper the project focuses on project benefits compared to competitors.

TRACETO.IO TOKEN

Traceto will use the ERC20 utility token, published on blockchain ethereum, symbolized by the symbol (T2T) and will be used for the major for smart contracting. Know your Customer system provides many problems, issues including internal data, privacy and privacy, siloing data, unstable KYC results, reusable KYC measurements and measurements.Detail Token