KYC.Legal — Blockchain identity verification

What is KYC legal? what it means? It basically KYC is “know your customer”. Now there’s many reasons you need to know your customer, a lot of them legal. You may have to have is a legal requirement you may also need it because if somebody for example loses their access, the password or something on a website. Know your customer will be some other information that you can validate them. What KYC legal is looking at doing is making this much easier for ICOs, exchanges, another platform that require KYC information. One of the problems you have with this information is if you’ve got it, you’ve to store it, you’re responsible for it also you got the issues of fraud and this is why going on some exchanges can be difficult sometimes because they want your picture with a passable and also, it’s in a right in front to it because they need to confirm that is actually you because obviously data can get stolen all the time. KYC legal has a solution for this which is basically you’d get on your phone turn around put a bit of information in there and then you agree to meet with somebody can validate you, one of the agents would then come to you and they will confirm your identity looking at your documents etcetera and confirm that is you. What I assume once you’ve done this once is you shouldn’t really need to do it again because once it’s all set up with the information on their system that should be able to validate you for pretty much everywhere that will take the KYC legal service and I can see it being a growing number because the first thing you got, as somebody say like myself running on ICO I could pass all that legal responsibility all of the data that is collected to you because I wouldn’t need that information I just need the KYC validation that is that person which KYC legal could provide beyond that all their things driving licenses, the passport photos all that stuff, I would have nothing to do with and wouldn’t suffer with date protection laws on holding that information because KYC legal would hold that data.

Obviously, it is not gonna be a free service but at the same time even when you’re doing this as a business it’s never free you’ve still got the security issues you still got a cost that is in the business somewhere so businesses will pay for it because it removes of that issue that exists on storing this information but also it means that they are personally checked somebody would like for example come to my house. Can I take a picture of myself to send it to them to say yeah I own KYC legal service my picture is sent to the agent they selected in my local area. I then go and weather so they come to me they look at me yeah that’s him, look to driver license, look the passport validate the information this is this person and then obviously that is validate on the system. The agents also have a more intense verification investing purpose so all in all this will be a very good system. There will be locations that won’t reach everywhere in the beginning but the fact is we focus on place of London all the major cities which they’re looking doing if we have a look through their whitepaper, they are already hitting the big area is where there know going to have a lot of customer usage not only from paper one their information stored. So, they don’t constantly have to keep putting their information everywhere. every time you go to exchange you are going to be asked passport photo, utility bill you’ve got to have all this information but every time you send it somewhere is at risk of another person hacking and stealing it.

So, having KYC legal deal with these issues, in theory your information should only be with them. You shouldn’t need it all over the internet you shouldn’t need to constantly be signed up here there another everywhere with all your day to be spread around because it defeats the object. Because if somebody hacks into one of these and got a copy of passport, your driving license, utility bill they can have another account somewhere else but with KYC legal that wouldn’t be possible. So, I would say much better system, good idea and I can say being one of those I see as that will actually go off and make a good business. They have already past their soft cap which is also a very good sign is one to be worth investing in because they are already at the point where they can make a completely up and running as quickly as possible and get in a good ROI on it as well as an investor.

Sources

Website: https://kyc.legal

Whitepaper: https://kyc.legal/WhitePaper-ENG.pdf

Telegram: https://t.me/KYCLEGAL

Twitter: https://twitter.com/KYCLegal/

Authored by: donniedarko

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