TRACETO – DECENTRALIZED NETWORK FOR KNOW YOUR CUSTOMER (KYC)

1. INTRODUCTION TRACETO

Many people who tried to invest in any ICO (Initial coin Offering). As they want to know that they need to identity yourself by driver licence or passport. Additionally, trading on some exchanges requests you to pass verification before trading. Have you ever thought about how this process happens? Okay, I will tell you my purpose of writing this newspaper. I hope that you can get some useful information from this. In this era of technology development, ICO (stands for Initial coin Offering) market is similar to the Wild West during the time of gold rush. If you know the way, earning good money is not some difficult, but you have to find a good-enough project to go for. Here is one among the interesting projects which I am going to share with you: TRACETO.

2. WHAT IS IT?

TRACETO is a Know Your Customer (KYC) service provider based on blockchain technology which delivers 3rd-party identity verification solutions, community feedback, machine learning and smart contract technologies to establish continuous compliance with international identification requirements. In other words, what is KYC?

KYC which stands for Know Your Costumer, is a policy in which financial organizations requests and verify the client’s personal data before interacting with it. In the ordinary life, such a policy meets very often, usually in all financial institutions, and with the development of Internet technologies, it is increasingly observed with online registrations.

At the beginning of the development of the TRACETO service, the aim of this project is solving problems related to money laundering and terrorism financing, since the absence of these factors is a major direction in the creation of a crypto project. In the future, the project will give you many different sollutions to deal with other important issues such as credit worthiness. What is TRACETO’s goal? First of all is to provide an ongoing KYC service combining feedback from a community of network participants to build individual profiles by providing 3rd-party identification verification with the application of machine learning algorithms. Furthermore, the other goals of TRACETO is including a unique system of decentralized verification by a network of peers into the overall reputation score assigned to the digital ID of a User. A Verifier is a trusted User who stakes T2T to gain the opportunity to earn T2T by performing KYC related tasks. Verifiers undergo stricter background checks, screening and ongoing due diligence. Verifiers also serve as gatekeepers to User data.

3. A REVIEW ABOUT TRACETO

- TRACETO has a strong team:The team consists of top-notch experts and professionals with impressive profiles of more than 5 decades of combined years of experience in compliance, regulatory, audit, machine learning, blockchain technology and finance fields. Currently, they are serving the KYC needs of 400+ crypto-clients. It can be undeniable that they can successfully bring their experience and solution to the blockchain.

Besides strong profiles of the team leaders, TRACETO also has in board Dr. Loi Luu who is the CEO of Kyber Network as one of their advisors. As exchanges are one of TRACETO’s major targets for their product, the involvement of Dr. Luu is certainly promising. Founders and managers are professionals in the field of business solutions and business process programming. Most of them came from Cynopsis Pte. Ltd.

- TRACETO has a potential concept combining KYC compliance and decentrialized network:

The important idea is to develop a virtual platform of KYC, which will by the decentralized ecosystem allow to observe and confirm all stages related to verification. The project team will use huge amount of experience, to improve the technology and all the ways to comply with all the rules. As the world moves swiftly towards decentralization, it is required to establish full efficiency and confidentiality, as well as to exclude factors of abuse of personal data, which actually will make the decentralized platform of this project. Inside the ecosystem, the ERC20 token will be used on the Ethereum platform. That is, all orders of the company will be directly paid using this token.

- TRACETO has been in partnership for development

One promising partnership that has already been announced of TRACTO team is with Kyber Network. Kyber intends to utilize TRACETO as their means of conducting KYC. A high-profile integration such as this in the target market could bode well toward the ever-looming question of adoption. Furthermore, as ICOs continue to emerge, a steady pipeline exists that could help TRACETO acquire both new users and enterprise customers.

- Token sale

The market TRACETO is quite specific. But in essence both ICO projects and crypto-exchange exchanges must comply with the requirements of KYC. The plus for the TRACETO project is the fact that the parent company has been on the market for a long time and has a solid share on it. There are also competitors, in particular this is Civic (with a capitalization of $ 133m), Thekey ($ 87m), Selfkey ($ 21m). As we see, collecting on the ICO 35000 ETH about $ 24m, obviously claiming a place above Civic, the TRACETO token has a good potential for growth. In white paper project focuses on the advantages of the project in comparison with competitors.

- TRACETO has experiencing in doing with social media platforms well

TRACETO tried to gaining popularity via social media channels and bounty programs. For the Telegram community, they have more than 10,700 members in their group and more than 6,400 followers on their Twitter.

4. CONCLUSION

As you can see, TRACETO platform has a good promotion. There is no doubt that the concept of the project which contributes to your future, is very potential. Make sure that the sooner you will support the project by buying its tokens, the better price you can get. In other words, the platform looks promising with all the required areas covered. However, the security market may sound a bit risky for some new investors.

FOR MORE INFORMATION, PLEASE VISIT

Website: https://traceto.io

Whitepaper: https://traceto.io/static/wp/traceto_Whitepaper_v1_34_11052018.pdf

Facebook: https://www.facebook.com/traceto.io

Twitter: https://twitter.com/tracetoio

Telegram: https://t.me/tracetoio

AUTHOR

Bitcointalk Username: Donmase

Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1236591