gelandangan: TRACETO.IO: REVOLUTIONIZING KYC WITH BLOCCHAIN TECHNOLOGY ASSISTANCE AND LOAN INTELLIGENCE

33308675_2052365988419397_8331279403598217216_n.png.jpg

If you have never been the victim of data manipulation or identity manipulation, then you may not understand the importance of KYC (Know Your Customer) and AML (Anti-Money Laundering) rules. Day by day we hear or see Individuals lamenting how they have been duped with the identity of others, this is a trend in the current era, so the need for a battle against it.

Yes, KYC and AML are very important but a study has shown that most organizations shy away from it because of the costs associated with it. Top organizations can freely handle related costs while developing organizations can not.

The problem is not doing KYC but ensuring that data collected is guaranteed and protected, this is one of the drawbacks associated with centralized systems, so most of the user data is still leaked.

To fully ensure that KYC and AML rules are kept at the same time ensuring data protection brings up the creation of unique platforms in all consequences, a platform called TRACETO.IO.

Traceto.io is a platform with the goal of providing KYC solutions to the crypto space with the help of smart contracts and artificial intelligence.
With platforms built on blockchain technology, traceto.io aims to bring transformative change to the e-KYC process so as to connect physical and virtual KYC processes.

WHAT IS KYC?

KYC may be seen as a process whereby organizations, corporations, etc. prove to organize bodies without a doubt, that they have accessed individuals before and throughout business relationships with individuals concerned with the following risks;

Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF): AML guard against the flow of illicit funds through the financial system. While CTF keeps the flow of funds through the financial system to a terrorist organization.
Product Suitability: Guard against the sale of certain products to individuals who do not have the necessary access to the product in question.
Creditworthiness: This guardian against extension of credit lines and margins for customers who may not be able to meet.

CHALLENGES that LIMIT KYC PROCESS CURRENTLY

The effectiveness of the current KYC process among crypto related organizations has been limited due to the following;

Most organizations believe that by being anonymous, there is no need to comply with AML and CTF rules.
Due to the costs associated with KYC regulations, most organizations tend to make it a choice rather than a top priority.
Due to insufficient funds or budgets and no trained personnel, most organizations still believe it is expensive and unattainable.

SOLUTIONS OFFERED BY TRACETO.IO

Traceto.io believes that by asking a few questions, the organization will be able to get to know their customers well.

Questions like;

Who are you? It deals with identity verification such as passport, national ID card etc.
Who are you not? It deals with exposing con artists, terrorists, Politically Exposed Persons (PEP), etc.
Are you still like you say? This is related to persistent customer verification because the identity may change over time.
What are you doing? It deals with storing well-articulated reports on customers and their sources of funds.
Develop a network completely based on the current KYC framework, thus meeting the needs of real-world regulations.
Provide a continuous, continuous test process that can be demonstrated to the regulator.
Promote inclusion of regulation with the help of smart contract and AI.

TRACETO.IO TOKEN

Traceto.io token T2T is an ERC20 token built on Ethereum blockchain. This is a utility token with a total supply of 1,000,000,000.

T2T is used for traceto.io smart contracts and as a form of payment when traceto.io components are used outside the platform.

T2T can also be used by clients and partners and also as a medium of exchange between traceto.io Network participants.

TOKEN SALE DETAILS

For 5% initial access bonus visit: https://platform.gbx.gi/grid

CONCLUSION

Traceto.io is an independent decentralized network consisting of AML, CTF and KYC solutions achieved with a combination of smart contracts and artificial intelligence, thus encouraging users to protect their data at the same time adhere to regulatory bodies.

The Traceto.io platform is supported by a team with years of experience and Regtech experience, has a good track record in providing KYC solutions.

With community and machine intelligence, traceto.io aims to revolutionize KYC.