Traceto.io — Decentralized Verification Network

3 min readMay 5, 2018

Knowing Your Customers — KYC

If your involved in cryptocurrencies you have probably heard of the word KYC and even been affected or involved with it. Maybe your favorite crypto exchange that you have used for years suddenly disables your withdraws until you verify your identity. Or if you were an ICO investor, many require restricted KYC — If you live in specific countries, you need to be a “Accredited Investor” before being able to invest.

This is due to the increased regulations being adopted in cryptocurrency markets which, many would agree, is necessary for the markets to continue growing into worldly adoption.

KYC is quickly becoming the approach to identity verification and regulation as it helps protect against terrorism funding, money laundering and other illegal purposes.
The problem is that current system is immature and difficult to implement into cryptocurrencies and associated projects

Projects lack the resources and funding to create a secure and effective KYC process
The current mindset is that anonymous funding makes regulations of low priority
The cost associated can deter projects from compliance

It is known that physical fiat banks spend billions each year on KYC processes and the trend is only expected to accelerate as the world becomes more connected. Where-as Blockchains offer the potential to dramatically reduce the costs along with increasing personal data privacy and security to the users. The need for a decentralized system for regulation and compliance is becoming increasingly necessary and Traceto.io is recognizing the potential in developing such a system.

Traceto.io will revolutionize KYC and compliance systems

Backed by an established regulation-technology company, Traceto.io will possess the development staff with decades of experience in regulation, compliance, technology, and finance to create a revolutionary virtual KYC platform. Initially, the companies focus will be on blockchain compliance for businesses either currently in the market or entering through Initial Coin Offerings (ICO’s) as this area currently presents the most opportunity to provide a catered solution and experience company growth.

After Traceto.io has established a successful network and partnerships, the company will branch into other areas needing solutions such as employee and supplier verifications with future potentials to enter into credit reporting and product suitability recommendations.

Traceto.io KYC Focus

The future is bright with Traceto.io

https://traceto.io/

Token Sale Information

Early access and Private sales are being hosted on the GBX network

private sale live (minimums apply)
Early access begins May 21st

Public sale starts on June 8th

0.5 Eth min.

For those eligible for ICO investment and interested in Early Access — You can register on the GBX platform at https://platform.gbx.gi/register.
See the website or visit some additional links located below for more investor information.