You will invest Traceto.io (Decentralized KYC network) ICO
Anyone who has had to prove their identity in the past few years have had the plight of filling a lot of forms, either offline or online. Each service provider has their own set of forms, for example, a car dealer has their specifics and a bank has another set of information the y want to know about you. Aren't you just fed up of going through filling these forms over and over again, even after holding your identification proof, like Aadhar (for Indians), or your SSN (for US citizens)? We need a one stop solution, where you update your information once, and you only do it when you want to make a change. We need a solution, which knows all the details that is needed by all the retailers and service providers, so that we need not have write pages on who we are.
Thank you!
Existing KYC Issues
No existing KYC method incorporate information about the relevant history of a person, like his financial and social history. This means that every KYC company just knows who the person "now" (or what the person tries to be now). For example, what Aadhar did was create a new database about a person, without linking it to any existing credentials, like bank accounts, birth certificates, etc. The result? Fake registrations, and multiple registrations. I have met a person with two Aadhars to his name.
The second problem is the reluctance of service providers to trust e-KYC, because no single system has claimed the level of security that a KYC system should actually possess.
Thank you!