Traceto ICO

Criminal assets and terrorism are acute problems of the 21st century. To combat them, special organizations working at the international level have long been established. They walk in step with the times. For your and our safety, they introduce norms on a mandatory basis, because of which financial and administrative structures have to study carefully, to study potential customers. Accounting and legal offices, financial organizations that accompany the activities of commercial structures, as before, remain client-oriented. True, they have to violate some principles and remain under the supervision of controlling state bodies, so as not to fall out of favor with the authorities.

How KYC evaluates the risks

KYC (literally “Know Your Client”) in Russian is usually translated only as “Know your customer!”. In fact, of course, it would be more correct to translate this concept as “the rules of selecting customers.” The whole essence of technology is the provision by the potential client of all the necessary documents, which contain regulated information about the individual.

Documentation that identifies an individual in the KYC system
The set of documents is standardized for jur. and individuals, the composition is determined by the nature of the procedure. So, for example, to open a bank account, you need to provide a lot of documents (for example, application form):
– copies of the passport (with photo and signature), notarization;
– a recommendation from a bank in which the applicant already has an account, or a letter of recommendation from a certified accountant or lawyer who accompanies the activity (it is necessary that there be a description of the status of the relationship);
– Confirmation of residence (for example, a certified copy of a communal account is accepted, but it is better to use a certified translation of passport pages, in which there will be a photo, signature and place of registration).

How does KYC work?

The system supports a wide range of functions. With KYC, the financial structure protects its interests.
– Identifies the identity of the client;
– for risk management it is possible to put a filter regulating the type and total number of transactions for the client;
– enables you to track customer transactions and, if necessary, initiate their investigation.

As a rule, KYC is useful for the client. A bank employee can really easier and faster make an offer for a client if he has enough useful information. This applies to any operations – both for support for business activities, and asset protection. A broker of stock exchanges, which has a clear understanding of the client’s situation and the specifics of his activities, will give him the most exact advice.

In general, as we have already understood, KYC is such a convenient protective tool that is useful for both clients and business structures. It structures the permissibility of the relevant financial transactions and protects the parties from possible sanctions.

If the world is not crypto-alien for you, you know perfectly well about the verification process. How is this process organized by the artist? Today there is a huge number of companies providing such services. But, it is worth noting, almost all of them work, as they say. In manual mode. Imagine how much time, effort and money a company needs to carefully monitor the process. At least one ICO campaign. Usually, buyers are recruited up to several tens of thousands. Some teams with a strong technical component try to automate the process as much as possible. But to automate the process, only one project has been fully implemented so far, which we will talk about today.

In fact, the market for this type of service is incredibly large. Every month hundreds of ICO go out. Thousands of exchanges and applications require the passage of KYC, dozens of them face the daily challenges of verification: project dysfunctions, mediocre quality, and the use of unreliable sources. The potential market does not end there, imagine the introduction of the procedure into the financial sphere, for example, the introduction of the service in banks around the world.

Can you imagine a project that is solely engaged in verification? Its work will be based on AI and blockchain technologies. For this purpose the Traceto project is created.

The project aimed to develop a virtual platform based on the decentralized ecosystem KYC.

The Traceto project solves 4 tasks:

1. High-quality identity verification;
2. Identification of criminals, terrorists and political persons who are under sanctions;
3. Observation and identification of suspicious sources;
4. Monitoring the activities of the client.

Smart Contracts and AI Traceto Network provides the first exclusive KYC solution from the real world for the virtual world.

How the system works

The ones who wants to participate in the ICO client goes to the Traceto application, loads the required data and passes KYC. All information will be stored in dAPP in an encrypted form. The course of operations is monitored by AI.

Token

Hard cap – 30 000 ETH.
System token T2T
System tokens can be bought for ETH.
The project is registered in Singapore.
The price for the token is 0,000075 ETH.
Token sale: 21 may.

How will all the tokens be destributed?

– 40% (400 million tokens) will be sold;
– 25% (250 million T2T) share of the team and advisers;
– 25% (250 million tokens) pool of funds allocated for partnerships, marketing, airdrop and bounty;
– the remaining 10% (100 million T2T) will remain in the strategic reserve.

How will the collected funds be distributed?

– 50% development and maintenance;
– 15% business development and marketing;
– 10% company reserve;
– 25% operational, legal and administrative expenses.

Site & Whitepaper

Available in 4 languages ​​- Russian, English, Chinese and Korean. Design, as it can be said, is in the style of minimalism, but all the information is submitted thoughtfully and organically. On the first screen there are all social buttons of the project, here is a mailbox of the team.

In Russian Whitepaper takes 35 pages. The information is submitted harmoniously, here you can also understand the intricacies of the product, and read about the features of the token and the terms of sales. The last pages of the document take a very impressive description of the achievements of the members of the founding team and consultants.

Team

On the site you can find 5 members of the group of founders and 6 advisers. The team is actively expanding at the moment. There is also a link, after which you can see the conditions for joining the project.

Social networks

So far, the project has not gathered the appropriate level of popularity on the Web, apparently, it is still ahead and fans of various bounty-campaigns here obviously will have something to do. To date, 11 356 users are subscribed to the channel in Telegram, Twitter– 6820, Facebook – 88, Medium – 84. The account in bitcointalk still has a level of Jr. Member, although it was created on December 15th. In the group in LinkedIn are 9 people.

Roadmap

The plans for development are rather laconic, but accurate and understandable. The site was launched in the 1st quarter of 2018, in the 2nd quarter ICO is conducted. In the third quarter of this year, a web application with a data storage system will be launched, and in the 4th will be a mobile application on AI with TX monitoring and storage system. In the 1st quarter of 2019, the MainNet community and the storage system will finally be launched. In the third quarter, the management will be tested publicly and by the end of 2019 there will be an end of work.

Conclusion

In the near future, experts note that the number of ICO projects will grow, and the rules of KYC and AML will be toughened. So the demand for verification services will grow. However, we observe that the opinion of experts on the project has been divided, not all are ready to accept the fact of automation of such processes. Our attitude towards the project is more positive than negative.

More information:

Website: https://traceto.io/
WhitePaper: https://traceto.io/static/wp/traceto_Whitepaper_v1_34_11052018.pdf
Twitter: https://twitter.com/tracetoio
Facebook: https://www.facebook.com/traceto.io
Telegram: https://t.me/tracetoio

Author: ICOevents

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