Decentralized Solution in Blockchain System
You may have heard that the crypto industry has become increasingly popular day by day. But why is every government against it? Can not they see the benefits of crypto money? To understand the reason behind this, you will have to understand the basic principle behind the crypto industry. The crypto industry is based on the centipede, it means that there is no control over a single organization, which means that the government is the most frightening.
The call to regulate the crypto industry has become inevitable because it knows the Customer Compliance (GCP) protocols. Recently, South Korea has become compulsory to comply with this rule, and soon other countries will follow the same path. Traceto.io is one of the main reasons for the mass acceptance of KYC.
Current situation and problem
It is known that your customer (KYC) is a rapidly expanding sector, but the anonymity it has established is struggling to deform its roots. Today, all KYC data is under the control of federal agencies that strictly violate the right to privacy. Moreover, in the majority of countries, governments or companies are reluctant to move towards E-KYC (which means that most of the work is manual).
Some of the other topics are:
-Data security
- Lack of availability
-Zero Privacy
Unstable results of KYC
KYC incompletely available
What is Traceto.io?
TraceTo.io brings together intelligent contracts and artificial intelligence to develop a virtual KYC platform that will ensure that the decentralized ecosystem conforms to KYC regulations. The KYC standards for the crypto world are still in the developmental stage.
Traceto.io is a decentralized network of KYC that provides collective recall and management of the KYC process. They want to guarantee a confidentiality of users, but to develop a solution that complies with legal requirements.
The platform will provide KYC services that combine feedback from the community of network participants to create an updated and re-verified individual profile. A network of authentication nodes on the ethereum blockchain will contribute to the KYC process by performing tasks such as video OTP verification.
How does the Traceto.io platform work?
If someone is interested in joining an ICO or exchange, then they will be directed to the Traceto.io application and will be prompted to load their documentation. These documents can only be seen with the consent of the users or community court. The information provided by the users will be encrypted and the 'user side' cache will be stored. The user's profile is then shared with the KYC provider of Traceto.io and their AI algorithms. Machine learning algorithms will be used to run facial recognition analysis on the individual. Finally, the network will give a KYC score that will depend on the following factors.
• Points from an identity and CTF service provider (in this case Synopsis)
• Social profile score from verified community
• An invited user trust prompt
• Score from AI and ML algorithms that detect fraud and anomaly
Traceto.io ICO
Traceto.io tokens (T2T) will be used in the ecosystem to compensate for a verification network (keeping the user safe without knowing the data) and paying for the KYC services. There are a total of 1 billion Traceto.io tactics, with the exception of only 40% for public sales (starting on June 8, 2018). The company also planned a hard diameter of $ 30 million. T2T bearer 1T2T = $ 0.1 $ AMERICAN DOLAR.At present at the moment.
The Traceto.io token is the local token of the Tracetoken.io platform developed on the Ethereum-blockchain to execute operations on the Traceto.io ecosystem. It is an ERC20 token and is classified as a helper icon. T2T will be used to promote users, potential customers, and partners, and also to award community certifiers.
Traceto.io and the future
The world is shifting towards the central city and when an important application such as the KYC platform does not belong to a single organization. This practice becomes even more important as it deals with privileged personal information. For this reason, we need a system that is decentralized, secure, self-sustaining and transparent and gives users the right to manage their own information. Traceto.io is trying to present all these solutions on one platform. Undoubtedly, with all the security sprawl that is going on right now, Traceto.io is one of the companies that fill the eye.
Website: https://traceto.io
Telegram: https://t.me/tracetoio
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