Traceto - Blockchain - KYC - A.I. - Compliance

What it means to KYC ?
Although the phrase “know your customer” may seem insignificant to most people, it has a very important meaning in the business world. The process of knowing your customer, otherwise referred to as KYC, is what businesses do in order to verify the identity of their clients either before or during the time that they start doing business with them. The term KYC can also reference the regulated bank practices that are similarly used to verify clients’ identities.

Banks and companies of all sizes have become big supporters of KYC. It is increasingly common for banking institutions, credit companies, and insurance agencies to require that their customers provide them with detailed information in order to ensure that they are not involved with corruption, bribery, or money laundering.

KYC and Cryptocurrency world

As the world of Cryptocurrency is changing and becomes more advance, governments around the world have become more vigilant in trying to regulate Digital Currency transactions. In recent months, we have seen numerous countries amended a directive on preventing money laundering and terrorist financing that will require cryptocurrency exchanges and wallets to identify suspicious activity, a directive that would include identifying bitcoin and other Anonymous Cryptocurrency users.

Entities engaged in exchanging between virtual and fiat currencies are required to carry out customer due diligence (also known as KYC), monitor transactions and report suspicious transactions. While Virtual currency to virtual currency exchanges is still not regulated at the moment , it is the responsibility of each entity/ company to perform sufficient due-diligence to ensure its operational compliance with KYC and AML requirements. Depending on each situation, failure to comply with KYC and AML requirements could result in severe penalty, suspension of license or, in extreme cases, prison time for the perpetrators.

What is Traceto ?

The Traceto ICO and T2T Token offer a decentralised Know Your Customer (KYC) network that provides a comprehensive solution for companies in the crypto space by combining automated identity verification with the blockchain. With the recent explosion in the popularity of the cryptocurrency market, the need for more effective and streamlined approaches to KYC is self-evident. The aspect of anonymity inherent to the technology makes the need for new approaches to KYC even more pressing.

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Traceto Team

Partners

Traceto Token

Traceto token is a ERC20 token and the symbol of the token is T2T.

Token Sale and Distribution

Token Symbol: T2T
Token Type: Ethereum-based ERC20
Amount of supply: 1000000000
Available for sale: 400,000,000
Token Price: 0,0000875 ETH = 1 T2T
Fractional token: 18 decimal places
Accepted Payment Method: Ethereum
Total Token Sale: 35,000 ETH
Private Sale: Ongoing.
Initial Access Sales: starting May 21, 2018.
General Sales: starting June 8, 2018.
Hard Cap: 30.000ETH
Price Per Token: 0,0000750ETH
Min Number: 150ETH
Bonus (Private Sales): 15%

Useful Links :

Website: https://traceto.io/
Bitcointalk ANN Thread : https://bitcointalk.org/index.php?topic=2911588.0
Blog: https://medium.com/traceto-io
Twitter: https://twitter.com/tracetoio
Facebook: https://www.facebook.com/traceto.io/
Whitepaper: https://traceto.io/static/wp/traceto_Whitepaper_v1_34_11052018.pdf
Telegram: https://t.me/tracetoio
Linkedin: https://www.linkedin.com/company/traceto-io-pte-ltd/
Bounty campaign : https://bitcointalk.org/index.php?topic=3439768.0

Author :
Dilshan Fernando
My bitcoitalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1197195;sa=summary
Telegram Username : @dilshanfernando