The principle of knowing the customer does not really mean knowing the customer literally but the principle of getting to know the customer's identity, which is related to the profile and character of customer transactions through banking services. Therefore, in terms of banking operations is not an easy task to implement the principle of knowing this customer. To conduct a due diligence or assessment process of a customer, whether to or not to disturb his privacy, is not an easy task. This can make the customer offended and transfer funds to other investment institutions. Thus, the application of the principle of knowing the customer requires the privacy of a customer or prospective bank customer.
Six months ago, almost nothing in the world did check the KYC / AML / CTF cryptocurrency, now they do almost everything, and after six months of the KYC procedure will be fully accepted and common practice in the community kripto valyutnom. In addition, this check may be much more thorough than we can see today.
For example, one of the leading exchange platforms, Bitstamp, started using a new form of KYC asking for their customer occupation, annual revenue, net worth, financial resources and so on. D.
Security (or lack thereof) and data leakage are a matter of the KYC procedure. There is some data leakage during a very busy project token, such as Bee Token and Sentinel, where personal information is stolen. Such information can be easily used for illegal acts, including the purchase of further illegal tokens.
The problem with the passing of KYC when registering in ICO always arises from a large number of users. Documents are rejected randomly, sometimes you have to submit your data multiple times. Therefore, tens of thousands of sets of personal data must be structured and analyzed appropriately to obtain only relevant information and prevent money laundering and terrorist financing.
For each ICO and crypto exchange, it is necessary to create your own KYC to check users and prevent fraud. But this process is very expensive for its creation from the beginning.
Traceto.io aims to help solve this problem. They provide a decentralized network solution, Know Your Customer (KYC) for crypto-cash and decentralized platforms.
Solution offered
TRACETO.IO creates the solution for the KYC. The team-designed framework works on the four basic questions; Who are you, who are you not, what have you done and are you still say you are it? Intelligent technologies for contracts and artificial intelligence are used to develop the TRACETO.IO network. The user uses the decentralized app if he wants to join the ICO or an exchange. The identity documents are uploaded by the user on the platform. The documents are encrypted and stored in the application. For viewing these documents the permissions of the user is required. Face recognition, OCR, video recognition are used as the means to check the profile.
How will the system work?
Customers (eg ICO, Exchange, etc.) order KYC for your services and make T2T deposits for payment. Users when signing up for customer service are transferred to DAPP, which contains the correct information and is being tested. Furthermore, the identity of the service provider (Cynopsis) is verified. Artificial Intelligence (located on the C side of synopsis, along with secure storage) analyzing tasks, checking the "blacklist", deviations from "norm" data and transactions. At the same time, users are verified through the community. This work is done by real people (verifiers), who receive tokens for it. In turn, to become a member of the community, you must have a token deposit on your own wallet. Remuneration verifier depends on the amount of work performed (verification), rating (reputation) and the number of tokens stored in his wallet. Trust in employees will be achieved through the training system and its ranking (rank lowered if the decision is rejected by appeal).
Manual
Much of today's KYC reports are manual. Customers fill up a variety of forms and declarations before being granted access to the services they require. There is a potential
loss of revenue from customers who find the KYC process too tedious.
KYC process manual, KYC manual is often inefficient and error-prone
Analog
Analogue KYC Activities are carried out and stored on physical documents. These incur extra costs related to the creation, preservation and destruction
of paper-based records. Analogue KYC processes seek to digitalise and moves to electronic KYC.
Traceto is a decentralized digital identification system to optimize KYC procedures. Traceto's parent company, Cynopsis Solutions, offers a KYC software product called "Artemis", which is already used in crypto-space. They do KYC for ICON, cyber network, Quantstamp, TenX, Eximchain, Referendum, Republic Protocol, Bluzelle, Gifto, Qlink, Electrify and others. Full list: https://traceto.io/clients.html
Tokenomik
A Token (T2T) will be required by the verifier since to receive rewards for completion of the verification task, it is necessary to have a token (a certain number) locally in their wallet. It only takes customers to pay for the job.
With certain periodicity (under certain conditions) part of the token will be "burned". All unused tokens will be destroyed.
In total, 1 billion T2T tokens will be issued. Cost limit (Hard Cap): 35 ETH.
Token Distribution: 25% token is a command. 30% token - backup. 15% token is marketing. 40% token - sale.
Basic price: 0,0000875 ETH
Usage: 15% - backup. 50% Development. 20% - marketing. 15% - operation
Traceto is not built from scratch. Thanks to the existing KYC and Cynopsis Solutions products, Traceto has the potential to get big clients.
promising partnership, already obyavleno- Kyber Network intends to use Traceto as a means of KYC, GBX, DIGIX, PolicyPal, FintruX, Sentinel Protocol, fidentiaX, Broctagon FinTech Group is, Signum Capital, hash.
A strong team with extensive experience in the field of KYC. A very strong adviser, close relationship with cyber network and ICON.
Traceto has advantages over its original competitors: There is already an existing base on which the project is built. It offers early plans to use blockade technology to eliminate problems in the KYC field, albeit not without flaws, but still better than its competitors.
Grid shortage
WP Surface in which system work is shown schematically, and technical aspects are not fully disclosed (interaction process between AI and community, smart contract work, private key storage, etc.)
Product development is still in its infancy, and product success relies heavily on eligibility and ease of use when placed with partners such as Kyber.
Token Info
Symbol: T2T
Price: 1 T2T = 0.10 USD
Platform: Ether
Accept: ETH
Hard cap: 30 000 000 USD
Country: Singapore
Official website - https://traceto.io/
Whitepaper - https://traceto.io/static/wp/traceto_io_GBX_whitepaper_v1.30_26032018.pdf
Telegram - https://t.me/tracetoio
Twitter - https://twitter.com/tracetoio
alex789
https://bitcointalk.org/index.php?action=profile;u=1653045
MY ETH: 0x5f5f506A001A179b8eE67214a7754Bfe04ffadE0
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