Every day, tens of ICOs light up the now-popular Bitcointalk.org forum and Medium.com, eager to make a huge break and live up to the expectations of their developers. Their emergence is a testament to how ambitious the whole world of cryptocurrencies and blockchain is and the potential it has. Despite this, however, it is rare to review an ICO that has been unequivocally hailed as one of the few to watch.
Introducing Traceto.io T2T
The calls for regulation of an otherwise unregulated crypto industry seem to be finally becoming vocal and unavoidable, thanks to the Know Your Customer compliance protocols.
Popular as KYC, it is now mandatory to comply with this rule in South Korea and a few selected parts of the world. It is extremely probable that this rule will eventually come true, though whether it does or not, there’s no doubt it will benefit both parties – authorities enforcing it and crypto investors.
Traceto.io is partly the force behind the massive adoption of KYC, given the decentralized Know Your Customer (KYC) network it has created. Cryptocurrency and blockchain product makers required to comply with it will delight knowing that Traceto that combines Smart Contract and Artificial Intelligence has their backing.
What’s the Problem With KYC and Can Traceto Be the Messiah?
The topic of KYC is quite thorny in this rapidly growing industry as it threatens to distort the very fabric of anonymity it is founded on. Many would prefer to keep it unregulated and away from the control of the federal agencies. They would also love to stay away from adopting it, accepting the widely-accepted lie that KYC compliance is expensive for nothing.
What the project aims to counter is the KYC issues surrounding the far-fetched assumption that anonymity that cryptos are founded on can override compliance with AML and CTF regulations. And so, the network created will augur well with the real-world regulations while providing the ongoing due carefulness process using a blend of AI and Smart Contracts. With that, it isn’t a wild guess why the Traceto.io T2T pre-sale will be among the most closely followed until it comes to a close in March 2018.
How It Proposes to Help Speed Up KYC Compliance
The network is based on a revolutionary KYC framework tested and accepted to agree with the conventional regulations. When it becomes operational, there’s a general aura that it will convince the regulators that compliance isn’t a big deal as it will offer an “ongoing due diligence process.”
Also, identity verification alongside sanctions, PEPs, and rigorous media screening will constitute the KYC screening process. By including AI and Ethereum blockchain’s Smart Contracts, it will be future-proof as well.
Is The Traceto.io T2T Worth Investing in?
Taking a look at the ICO hard cap of $30,000,000, it only speaks about the magnitude of the project. Sale of the T2T tokens is poised to come to a close on February 20th, 2018, a few days after it commenced on February 9th, 2018. A token costs 0.10$ USD and these tokens will act as the means of payment for KYC services in the ecosystem after which unsold ones will be burned to reduce supply.
To wrap this up, Traceto is a genuine project that consists of Regtech professionals whose members (many of them) are still at Cynopsis Solutions. It is a Singapore-based project.