Traceto bridges the KYC problem

Recent technological and scientific developments have also encouraged the development of crimes committed by those who wish to take advantage of people who are unaware of such technological and scientific developments. To avoid the crime rate Banks and insurance companies apply the KYC system where the system is expected to damp someone who wants to commit some crime.

The basic problem faced by KYC

The level of crime committed in the world each day coupled with an increase in the level of terrorism has encouraged both regulators and businesses to improve their standards and below are issues related to the current KYC type. After learning of the problems of the current KYC process, Traceto has come up with a great concept to combat this threat by using blockchain and its associated technologies to bridge the problems faced with the current KYC method to provide us with efficient AML and CTF procedures. are the highlighted ways the issues will be combed.

To reach the Traceto goal, there are 4 different DApp and will help realize this project as follows :