Traceto.io: automatic identity verification system

Traceto.io is a perspective project created by experienced Singapore developers. It's a KYC (“Know Your Customer”) system that offers automated and decentralized identity check for companies and users. The platform suggests complex decisions using AI and SmartContract technologies.

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Problem-solving platform

The concealment of the origins of illegally obtained money and anti-terrorism are quite actual issues nowadays so client testing becomes more and more effective and refined. As a result expenses spent on this issue are growing, as well as violation penalties do. Obviously, AML and KYC are becoming significant issues of blockchain industry in 2018-2019.

Users identification process has the following problems:

Finding and keeping staff who knows KYC is a long and difficult process;
KYC takes a lot of time, so having a whole team of specialists is necessary for offering quick verification process. And this leads expenses to grow.

Traceto offers a smart solution of these issues. The project has these features:

platform is based on KYC structure and is suitable for companies and users;
system makes it possible to catch criminals and frauds because of the regular monitoring of the personal information required for identification;
platform is automatic and works with the use of innovative technologies such as SmartContract and AI.

So when comparing to older traditional methods Traceto KYC-based identity verification has a faster verification process, minimal check expenses and absolute automation. It is really beneficial for preventing the concealment of the origins of illegally obtained money.

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Probable difficulties

The contension in the niche is big. Competitor products are SelfKey, Civic and uPort. Limited market represents a threat for a new platform, that is yet under elaboration.

Remarkable clients

Traceto platform is created by Cynopsis company which has worked with clients like: KyberNetwork, Tenx, ICON, Indonesia Bitcoin Marketplace, Bluzelle, Kenetic Capital, Iris. Refereum, Bluzelle, Electrify and Quantstamp are their clients too. These are well-known companies that work in blockchain compliance industry. Traceto is also partners with Fintrux, PolicyPal Network, Gibraltar Blockchain Exchange etc.

Team of developers

Chye Kit Chionh is a founder and the CEO of the platform. He is a specialist with more than 15 years of practice with financial markets in Asia. Chye also works as an advisor in Kyper Network. Dias Lonappan is the CTO and a co-founder. Dias used to run various blockchain projects and platforms in area of analytics. Gene Yan Ooi is also a co-founder, as well as the chief data analyst. He has helped to develop KYC platform called Artemis. Dr. Loi Luu is a member of remarkable advisor team that works with ICO.

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ICO general information

Private sale takes place from April,25 to May,21. Early access Sale starts on May,21. Public sale of the project will start on June,8 2018. The minimal Amount is 1.41 ETH, price per token is 0,0000750 ETH. Traceto's goal for fundraising is 30000 ETH while token quantity is 1,000,000,000(40% available for the token sale). The unsold tokens will be annulled.

Opinion of the ICO

The platform is a significant contribution that surely will develop crypto-space industry. Traceto offers advantages to experienced teams who have worked with Blockchain. The platform will help them to get target market. However, the platform is yet in the elaboration stage. Its profitability depends mostly on a long-term viability and the level of usability.

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