What Is KnowMeNow?
KnowMeNow is a platform that focuses on building a framework that is autonomous and allows customers to easily create and own identity profiles on their smart phones and businesses. It further enables them to perform cheap permission-based Know Your Customer (KYC) reviews in a manner that is fast, reliable, and compliant using blockchain technology.
The platform provides its users with ownership and total control of the KYC data thus security and confidence when sharing such data between customers and merchants is improved. Verifiers of such information are given more insights through the customer profile history that is recorded and verified leading to reduction in risk and improvement in compliance. Merchants will also experience high revenues since transactions will be done in high volumes with reduced risks to fraud.
The main objectives of the KnowMeNow platform are:
- To be the main agent during the fight against cybercrime
- To give entities an opportunity to freely trade by reducing the risks of fraud and damaging compliance breaches
- To prevent fraudsters and conmen from damaging the lives of normal people
- To put to use the power of blockchain technology in the creation of a decentralized, user friendly and secure KYC solution
How KnowMeNow Blockchain KYC Identity Fraud Security Project Works
The platform built a wallet that is blockchain based and is installed to the smartphones of customers for the creation and storage of personal data like identity documents and addresses required by law to allow access to a service.
Trusted third parties like identity service providers, governments and lawyers, do the verification of the information. Customers now have total control over their Personal identity information and they can, with their permission, securely share their verified identities with merchants.
KnowMeNow KME Token & ICO Details
The platform's cryptocurrency is called JYK and is the only accepted currency for all transactions in the ecosystem. Users will get rewards in terms of the tokens every time they give their KYC documents to merchants.
The JYK tokens can easily be converted to other currencies directly in the platform. Merchants who need to sign up in the platform require purchasing the tokens only through the Initial Coin Offering of the platform to pay for services offered.
The platform also issues innovative investor tokens called the KME tokens. Investors will get returns with basis on the gross adjusted revenue. The tokens once listed, can be sold in various exchanges.
Parameters Of The ICO
- Token symbol: KME
- Accepted payment method: ETH, BTC, BCC, Euro
- Token Price: 1 KME = €0.10
- Total token supply: 550,000,000 KME
- Hard cap: 30,000,000 Euro
The platform ensures that all the data is ready, quickly updated, and compliant thus allowing instant on-boarding with no need of verification whether it’s external or internal.
The core principle of the platform is that the data collected can only be used and shared with the permission of the user.
Sharing Of Data
With the permission of the user, the data that is collected and verified can be shared and used multiple of times.
The architecture used is parameter driven thus the KYC level is flexible to instantly realign itself to the ever changing regulatory and jurisdiction requirements as well as client risk profiles.