Topic: [ANN][ICO] KYC.legal - Blockchain identity verification - page 75. (Read 44382 times)
ID verification became an indispensable part of almost every business and every industry. You know some businesses have practice of using card for their employees to register when they come to office and when they leave. If that your market share too? Do you offer a solution here?
Hi,Does your project have any notable partnerships at this stage?
We have already concluded a number of partnerships with exchanges and services and we are announcing them in the near future. At this moment that information is unavailable. Regarding our latest news on this matter - we have partnered with Quarrex. You can read more about it here: https://bitcoingarden.org/kyc-legal-qurrex-collaborate-hybrid-cryptocurrency-exchange/.
In your white paper I see that one example is adult websites that post 18+ content. Now, in order to access the website, you will be requested to provide your complete ID information or authorize through your social network profile despite the fact that only year of birth is truly required. Can that be used by parents at home or what is it?
The user can choose which data to provide. He isn't required to provide full information everytime.
Hi,Does your project have any notable partnerships at this stage?
In your white paper I see that one example is adult websites that post 18+ content. Now, in order to access the website, you will be requested to provide your complete ID information or authorize through your social network profile despite the fact that only year of birth is truly required. Can that be used by parents at home or what is it?
How long have you been involved in blockchain?
We have been working in information technology for a long time now, more than 10 years. The core of our team has been together for more than five years now, working on projects that cater to our already existing businesses and provide B2B (business to business) solutions: project management, goal setting, audit, etc. We have been watching blockchain closely since 2016, and have now joined forces with Nick Evdokimov and decided to hold our own ICO.
In the verfication process you use biometric data of a person. How do you get it? A special application? With putting finger on a smartphone screen?
As to bio data, can anyone steal them and use for maybe passing the state border, as an example, as someone else? How can it be secured?
For protection we did the following: 1) Personal information is protected by encryption and biometric data
2) Data is hosted on user’s device
3) User is able to chose information provided to service
4) Document verification with digital sign
In the verfication process you use biometric data of a person. How do you get it? A special application? With putting finger on a smartphone screen?
Yes, our app will have that option.
The project does look good and I do like the technology. The only part I do not understand is the KYC pricing model.
Today existent companies on this field charge their customers within $1 and $3 per KYC check. By doing this ICO you are basically preselling 42m of KYC checks in this price range. The cost for KYC checks is not $10 to $50 as you have stated. Specially not for big corporations running millions of KYC checks per year. They even get prices that go even lower than $1.
So let's say that your project succeed, the technology is great and everyone want to use it. Your crypto price will go up and this will increase the cost for big potential customers. Why a big corporation will pay more for a bulk KYC checks if they can get them much cheaper with other solutions?
I still see potential, probably for small companies and individuals (like ebay sellers). But the higher the price goes up the less appealing the product is.
Today existent companies on this field charge their customers within $1 and $3 per KYC check. By doing this ICO you are basically preselling 42m of KYC checks in this price range. The cost for KYC checks is not $10 to $50 as you have stated. Specially not for big corporations running millions of KYC checks per year. They even get prices that go even lower than $1.
So let's say that your project succeed, the technology is great and everyone want to use it. Your crypto price will go up and this will increase the cost for big potential customers. Why a big corporation will pay more for a bulk KYC checks if they can get them much cheaper with other solutions?
I still see potential, probably for small companies and individuals (like ebay sellers). But the higher the price goes up the less appealing the product is.
The user that wants to be verified pays 10-50$.
The concept of token is as follows: The KYC.LEGAL token is a utility token which offers its holders numerous advantages. The main advantage is the possibility of getting a 50% discount on the KYC verification services offered by the platform. This discount is not available to people without tokens. To receive the discount, they will need to lease the project tokens from token holders. In this case, the 50% discount is split equally between the lessee and the token holder, i.e. each receives a 25% discount on the full cost of the services. Therefore, along with the opportunity to take advantage of a 50% discount on services, token holders can also receive an economic benefit from the lease of tokens. After a single use, the tokens will be temporarily deactivated. Therefore, to be able to regularly use the platform's services and lease the tokens, token holders will have to purchase enough tokens to satisfy their needs. Plans for the future also include the possibility of withdrawing tokens from the system and selling them on an exchange.
Perhaps I am missing something but it is companies running KYC on their users base. The customer is not the one initiating the KYC, is the company, the process costs is on them, not on their users.
For example, the swissborg ICO are running KYC on any investor above $5k, but the cost is on them. Is a basic AML requirement.
It is know your customer, not know your company.
Please clarify,
No, actually. The customers are the ones who initiate the KYC process. The services just lock the possible abilities of their customers until they pass the KYC. Take binance exchange for example. You can trade there without KYC, but you need to verify your account to withdraw more than 2 BTC in 24 hours. The Binance doesn't initiate KYC process. The customer sets up an application for KYC and the Binance exchange verifies him. This process sometimes takes weeks to finish. Here's where our solution comes in. With KYC.legal the verification process will take only near 30 minutes. The user sets up documents for verification and then calls the agent to come and verify him on the second stage. After that the process customer has passed the KYC. Also, in your situation, if swissborg ICO gets hacked somehow then all the data that they got from the users will on the loose, which is dangerous because it can lead to fraudulent use of customer's data. With our solution all original data is stored on the user's device, while only hash-data is sent to the services.
how long will the ICO last?
The ICO will last until 1st of March.
What is the practical use of KYC legal?
Our solution is focused exclusively on client identity verification. Our slogan is "Quick and easy". Making it quick and easy to receive KYC. Using our platform, user verification, from the installation of the application and registration in the system to the arrival of an agent, takes less than 30 minutes. This solution will be applicable to all kinds of different areas of business - exchanges, cryptoexchanges, brokerage offices, banks, funds, online loans, etc. The next level will include, for example, services such as online orders of prescription medicines, or proof of a user's age for, say, the purchase of alcohol or tobacco. In a word, any services that require identity verification.
You do accept usd by wire transfer, don't you? Where can I find instructions?
No, you can't make a deposit using wire transfer. You are able to buy KYC Tokens using BTC, ETH, LTC, DASH, ZEC
Is there a bounty program?
You can find our bounty thread on BT here: https://bitcointalksearch.org/topic/bounty-kyclegal-blockchain-identity-verification-2478038
How long have you been involved in blockchain?
In the verfication process you use biometric data of a person. How do you get it? A special application? With putting finger on a smartphone screen?
As to bio data, can anyone steal them and use for maybe passing the state border, as an example, as someone else? How can it be secured?
how long will the ICO last?
In the verfication process you use biometric data of a person. How do you get it? A special application? With putting finger on a smartphone screen?
Where are your located?
The project does look good and I do like the technology. The only part I do not understand is the KYC pricing model.
Today existent companies on this field charge their customers within $1 and $3 per KYC check. By doing this ICO you are basically preselling 42m of KYC checks in this price range. The cost for KYC checks is not $10 to $50 as you have stated. Specially not for big corporations running millions of KYC checks per year. They even get prices that go even lower than $1.
So let's say that your project succeed, the technology is great and everyone want to use it. Your crypto price will go up and this will increase the cost for big potential customers. Why a big corporation will pay more for a bulk KYC checks if they can get them much cheaper with other solutions?
I still see potential, probably for small companies and individuals (like ebay sellers). But the higher the price goes up the less appealing the product is.
Today existent companies on this field charge their customers within $1 and $3 per KYC check. By doing this ICO you are basically preselling 42m of KYC checks in this price range. The cost for KYC checks is not $10 to $50 as you have stated. Specially not for big corporations running millions of KYC checks per year. They even get prices that go even lower than $1.
So let's say that your project succeed, the technology is great and everyone want to use it. Your crypto price will go up and this will increase the cost for big potential customers. Why a big corporation will pay more for a bulk KYC checks if they can get them much cheaper with other solutions?
I still see potential, probably for small companies and individuals (like ebay sellers). But the higher the price goes up the less appealing the product is.
The user that wants to be verified pays 10-50$.
The concept of token is as follows: The KYC.LEGAL token is a utility token which offers its holders numerous advantages. The main advantage is the possibility of getting a 50% discount on the KYC verification services offered by the platform. This discount is not available to people without tokens. To receive the discount, they will need to lease the project tokens from token holders. In this case, the 50% discount is split equally between the lessee and the token holder, i.e. each receives a 25% discount on the full cost of the services. Therefore, along with the opportunity to take advantage of a 50% discount on services, token holders can also receive an economic benefit from the lease of tokens. After a single use, the tokens will be temporarily deactivated. Therefore, to be able to regularly use the platform's services and lease the tokens, token holders will have to purchase enough tokens to satisfy their needs. Plans for the future also include the possibility of withdrawing tokens from the system and selling them on an exchange.
Perhaps I am missing something but it is companies running KYC on their users base. The customer is not the one initiating the KYC, is the company, the process costs is on them, not on their users.
For example, the swissborg ICO are running KYC on any investor above $5k, but the cost is on them. Is a basic AML requirement.
It is know your customer, not know your company.
Please clarify,
How are you planning on protecting user information from hacking attempts?
We did the following:
1) Personal information is protected by encryption and biometric data
2) Data is hosted on user’s device
3) User is able to chose information provided to service
4) Document verification with digital sign
I have a couple of questions.
2) if Data is hosted on user's device, what happens when the user change his device, does he need to visit an agent to recertify his documents?
Also, if data is hosted on the user's device, what info does the blockchain stores?
4) After these document are verified by an agent, is there an expiration on that digital sign?
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