ICO KYC.Legal - FULL REVIEW!!! ICO IS LIVE NOW!!! DISCOUNT 46%!!!
Service that allows to verify users and to prevent fraud. It is based on blockchain technology as a tool for protecting and validating personal data of Internet users.
-Personal information is protected by encryption and biometric data
-Data is hosted on user’s device
-User is able to choose information provided to service
-Document verification with digital sign
-Reliable information on user
-Absence of fake or dublicated user profiles
-KYC (Know Your Customer) compliance
-Ecosystem for customer and service interaction
ID verification market
We live in a brand new digital world. More than that, we are the grassroots of Web3, experiencing increasing power and influence of Blockchain-based technologies on our day-to day life. According to recent MarketsandMarkets 2 report, Blockchain technology market size will be worth 2.3 billion by 2021, increasing at a compound annual growth rate (CAGR) of 61.5 percent. Within Blockchain, the digital identity market is expected to grow at the highest rate as the Blockchain would make digital identities more secure and efficient, resulting in seamless sign- ons and a reduction of identity fraud. In addition, the global Identity Management market worth is projected at $14.82 billion by 2021, up from $8.09 billion in 2016.
Blockchain technology for personal identification
The diversity of middlemen and the lack of value-added to service providers and users make some sort of simplification of the present online ID verification system inevitable. The reality remains: user experience is valuable, but it hasn’t been properly improved with an efficient and transparent service. According to Customer Due Diligence 14 (CDD) Market Survey 2016 performed by Nice Actimize, Fi - nancial Services Organizations are facing an increased need to evaluate and enhance organizational CDD/KYC controls in order to address the new regulatory requirements. Top operational challenges related to current CDD/KYC are manual processes and data quality & availability, and the highest operational priorities related to CDD/KYC programs are to improve data quality, investment in new technology solutions and process automation.
General view of the whole system:
Blockchain base can be accessed in three different ways:
1. Direct appeal. Direct contact to a Smart Contract on Solidity. Our Smart Contract pos - sesses a communication interface that can be interacted with without a server or app (e.g. to check another user or see a list of verifiers).
2. Appeal through the server API. Services can communicate with system users via an API in order to verify their own users through KYC. The API provides a QR-code to the service that allows you to request personal information from the service and identify it.
3. Mobile application. The mobile application exchanges data with the database through the server API. This is used as the primary way to interact with the system and is avail - able to all users.
With new digital economies booming and the volume of ID verification requests growing at unprecedented rates, KYC.LEGAL is aiming to execute its unit economics through data moneti - zation while sacrificing our potential ID verification revenues in order to accelerate user growth. (remember? 50% to certified agent and 50% is split between token holder and user discount)
For scale estimation, let’s take our ICO example. Out of a maximum of 42,000,000 issued KYC tokens, a conservative forecast is that every 4th token will conduct at least one verification per year bringing its holder $12 on average. This gives us $100-$120M in total revenue for all token holders during year 1 - given that potentially token holders will cumulatively invest not more than the $35M max cap, it’s over a 300% increase.
KY C is an Ethereum token which authori zes the usage of all KY C appservices. Tok en gene ration means gener ation andex change of KYC between ICO participants. Tok ens will be released and distributed within 7 da ys after the ICO closure. The offer is opened to the global community ex cluding U.S. citizens, whoae pr ohibited by the law of their country to tak e par t in such activities. KY C.LEGAL is not responsible for members who violate ICO-related laws of their country of citizenship.
Initial Coin Offering
KYC.LEGAL releases 35M KYC tokens at a value of $1 per token during the ICO timeframe with a max cap of $35M. The KYC.LEGAL team additionally issues 20% of the released amount - 15% to be withheld by the KYC.LEGAL team and 5% to cover ICO operational costs. The total amount of tokens issued is 42M.
Token KYC Price includes
Verifying Agent’s costs from $5 t o $25 (depends on region) Rewar damoun t (50% of t otal pri e) can be shared between User and Tokenholder Rewar d sharing process is managed by Tokenholder only KYC t oken works as the sharing instrumen t and it means utility token (not of ten)