traceto is built on the basis of Cynopsis Solutions. Cynopsis is a large company that conducts audits for very large players. Through this site have passed KYC famous projects such as:
traceto excels in the background of a competitor.
First, the project focuses on its own block system, unlike other projects. Civic uses rootstock, and SelfKey uses Ethereum.
The manifestation of the great interest of individual investors and investment funds for the Traceto crypto project has its own reasons and below in this article we will consider these reasons.
Around the world, great attention is given to fighting the disbursement of money gained illegally. Identify the identity of customers, investors in recent years more difficult and more energy intensive. And for its implementation, an annual fee is required for this increase. Growth and penalties for the implementation of this procedure by banks and other financial institutions are dishonest.
The Traceto Network, built on a block system using smart contracts and artificial intelligence, is able to provide comprehensive solutions to problems in the KYC personal identification field (know your clients).
Not only financial institutions can use Traceto identity identification technology, but also regular users and individual investors when signing up for crypto projects, for investment. The problem of passing the KYC procedure (know your client) will be solved, which will randomly select the candidate.
Traceto Network is a new project of Singapore Cynopsis Solutions Pte. Ltd.
Solutions Offered
TRACETO.IO creates a solution for KYC. The structure designed by the team works on four fundamental issues; who you are, who you are not, what you do and you still like what you say. Smart contracts and artificial intelligence technologies are used to develop the TRACETO.IO network. You use a decentralized app when you want to join ICO or exchange. Identity documents sent by users on the platform. Documents are encrypted and stored in the application. User permissions are required to view these documents. Facial recognition, OCR, video recognition is used as a means to verify profiles.
The verifier on the platform verifying the profile is a trusted user, who is rewarded for his contribution to the services provided. To become a tester on a platform, the minimum number of T2T tokens should be scouted. The degree of authority in the scan depends directly on the number of T2T tokens. Artificial intelligence algorithms are used to automate multiple processes on a platform. Communities on the platform play an important role in the smooth operation of many services offered by the platform. There are different scores for KYC given to platform users.
The Traceto ecosystem expands some DApps to facilitate the KYC network:
User DApp - Provides an interface for users to access the Traceto Network. When the user uploads PII and passes the live test, the orientation process begins.
DApp service providers - Service providers may check KYC information and update reputation scores. The score is encrypted and inserted into the chain. Cynopsis Solutions acts as the first service provider when launching the network.
Corporate Requestor DApp - Provides an interface for paying user KYC requests to the Corporate Requester and extensions expiring. You can also access the user's public key and KYC score.
Community DApp - Community verifier performs social verification of new users, applies to verifiers, handles requests from applicants, displays user documents, and performs other permitted governance roles.
Traceto Token (T2T) is built on the Ethereum network. Company applicants purchase KYC services for new onboard users using T2T. To be a verifier, it is important to risk a number of T2Ts. The bet is initially smaller, but increases as the number of users and verifiers increases. Rewards for verifiers to run KYC duties are paid in T2T.
traceto is built on the basis of Cynopsis Solutions. Cynopsis is a large company that conducts audits for very large players. Through this site has passed KYC famous projects such as:
- FidentialX, FintruX, PolicyPal Network, kyber.network, Gifto, ICON, Quantstamp, Simple Token, Helbiz, Zilliqa.
The list of partners with whom they perform KYC is very impressive. They already have experience, and they want to disrupt the preparing service to blockage so that all personal information is stored in the block.
traceto excels in the background of a competitor
- First, the project focuses on its own block system, unlike other projects. Civic uses rootstock, and SelfKey uses Ethereum.
- Second, the data storage. In addition to storing the final data from the user, they are also stored in a decentralized, encrypted form that you personally grant access to, and all data passed through the validator via the system.
- Third, and this is the most important, because this is what the competitor does not have - it is the use of artificial intelligence to confirm your identity and determine your similarity with the documents you provide.
It is also important to note that ICO will take place on the GBX Gibraltar platform https://grid.gbx.gi. To get authorization, you must register on this platform and pass KYC.
Why invest in this project?
- The project has good growth prospects for tokens, because the traceto team is much more powerful than SelfKey, so I'm waiting for capitalization at the Civic level, it's around 150M, and the good Xs.
- Plus Technology, Trace To offers a much more powerful market solution - using artificial intelligence.
Problems with KYC
- The false assumption that anonymity puts aside the need to comply with AML and CTF rules
- Low priority is allocated for compliance because of its perceived cost center
- Lack of budget and experienced compliance personnel to build a watertight KYC process
TraceTo Completed What
- Develop a network based on our KYC framework that will meet real-world rules
- Provide an ongoing due diligence process that can be shown to regulators
- Combine smart contracts with AI to promote regulatory inclusion
ICO Traceto Project.
Private Sale Launched April 26, 2018. Investors can invest more than 150 ETH. The amount of investment immediately generates a bonus of 15%. Initial token access sales start on May 21 with a 5% bonus and a minimum threshold of $ 1000 in an ETH or CTR token. Public sale is scheduled for June 8th with a minimum threshold of 0.5 ETH. The total system contains 1 billion tokens.
The platform is ETH.
Token Type - ERC20.
Total Token - 1 Billion.
Sale allocated - 400 million.
Price - 1 T2T = 0,0000875 ETH.
The minimum investment is 1ETH.
Token distribution.
- 40% - for sale.
- 25% - team and happy.
- 25% - for partners, gifts and marketing.
- 10% will remain in the project backup.
- Budget allocation
- 50% - development and maintenance.
- 15% - marketing.
- 25% - on operations, legalization and administration.
- 10% for project backup.
ROAD MAP
TEAM
Chye Kit Chionh CEO: Working 4 years at ING (one of the largest financial conglomerates in the world), 10 years Managing Director / Head of Asian Compliance Area at Macquarie Group (financial services company with $ 481 billion under management). He is an advisor to KyberNetwork (ICO graduated on September 16th, Vitalik Buterin is on mentor, market cap is now ~ 180 million).
CTO and Co-Founder Dias Lonappan: In 2013-2017 there is CTO Quantified Assets Pte. Ltd. - private investment company, specialization: gold and crypto currency. Is the Head of Engineering of a small company (14 employees on the link) for software development for retail.
Gene-Ooi: He is the developer of iRIS, a software for KYC, used by Cynopsis. Being on the international hackaton team winner from BNP Paribas.
Co-Founder (Chief Marketing Officer) Dan Poh: The impressive work places for Sales and Compliance in Barclays, Deutsche Bank, Merrill Lynch and JPMorgan. FidentiaX advisers (small ILC since early January, now cover only 14 m) and FintruX (Izzo graduated recently, on 28 February, intermediate interest in Icodrops).
Co-Founder Robin Lee: Inzsure co-founder, is one of the founders, director of several small companies.
FOR MORE INFORMATION:
Website - https://traceto.io/
Telegram - https://t.me/tracetoio
Twitter - https://twitter.com/tracetoio
Facebook: https://www.facebook.com/traceto.io
Thread ANN - https://bitcointalk.org/index.php?topic=2911588.0
Bounty Thread: https://bitcointalk.org/index.php?topic=3439768
author: muhammadsosa
eth: 0x8056b4866D50eBCE01D33EDc967D38a6Bf724420
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