Clears
Last Update
Jun 19, 2018
About Clears
KYC—or Know Your Customer—is a critical process for all financial companies dealing with international investors, shareholders and customers. Clears is a technology based on the Ethereum blockchain offering a scalable and personalized KYC process. It aims to expedite the acquisition and delivery of required information to companies and regulators around the world, simultaneously improving the user experience by increasing security of sensitive personal data while lowering the cost.
Today, most companies use proprietary and standardized KYC processes, requesting every new customer to submit an ID and a document certifying their current address. Only after a successful customer authentication has occurred are companies allowed to do business with a user. The data being used in a standard KYC process is often extremely fragmented, and there is no guarantee that the user completing the KYC is the legitimate ID holder. Additionally, many KYCs processes are unnecessarily complex in that the amount of documentation needed exceeds legal requirements for a given operation.
Ironically, the same crypto-technology companies at the forefront of blockchain innovation are using archaic and unsecured KYC processes.
The global banking industry combined with the top five Asian markets constitute a 1.5 billion dollar yearly market, according to LexisNexis risk solutions. But the KYC market goes far beyond the banking industry and is so large it’s difficult to estimate the market size using publicly accessible data.
In the immediate future, Clears will focus its efforts of serving rapidly growing ICOs, Fintech and Cryptocurrency marketplaces.
Currently, there are more than a thousand ICOs yearly. Every ICO requires anywhere from 1000 to 50000 KYCs. This tiny fraction of the market represents $50M in potential revenue, a number that is expected to rise exponentially as cryptocurrencies gain mainstream popularity.
There are also more than 10,000 crypto related marketplaces and exchanges on-boarding thousand of new users daily. Each new user requires a KYC.
Clears aims to be the standard KYC in the rapidly growing ICO market, expanding to serve all industries that require identity checks and KYC processing. We are confident that users will specifically request that Clears processes their KYCs due to its convenience and enhanced security.
Clears Roadmap
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February 22nd
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Private sale starts
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April 9th
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Pre-sale starts
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September 7th
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Pre-sale ends
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October 1st
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Public sale starts
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October 26th
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Public sale ends
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September 1st
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Beta launch with 10 companies partners
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October 1st
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Agents onboarding starts with marketing around the world
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Q4
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CLRS mobile apps launch
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December 1st
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10 cities available around the world for agent based document verification
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February 1st
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Product launch
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End of 2019
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All major cities (> 1M people) covered by agent verification
Advisors
Verified 57%
Attention. There is a risk that unverified members are not actually members of the team
Former members
Clears Interviews
Clears has both a very strong value proposition and an excellent team for building a leader in this area.
Clears Reviews
CLEARS is a technology based on the Ethereum blockchain offering a scalable and personalized Know Your Client (KYC) process hence guaranteeing data integrity.
PROS:
- Faster processing: The platform completes the KYC process faster by taking less than 30 minutes once all the documents from the users have been submitted and when the user has already completed the KYC the process is instant
- Security: The platform ensures that each KYC is encrypted and hosted by clears and no data is shared with anyone as a hash of the data is stored in the blockchain to ensure data integrity
- Cost-effective: Through the use of the same data repeatedly the platform reduces the cost of a KYC process substantially
- Legitimate: The platform can process KYCs around the globe in accordance to the local or international regulations creating trust from its use
- Simplicity: The platform ensures that adding a KYC process to any website is as simple as implementing Google Analytics since it requires a single code to start the process
- The platform white paper is elaborate giving adequate application cases of the project use in promoting data integrity
- The platform has a credible team led by the CEO Florian Seroussi who is a global investor having initial over thirty investments making the project implementation easier
CONS:
- The amount raised by the CLRS token in the pre-sale stage lacks any insurance and warranty hence can be easily lost
- The platform white paper doesn’t bear the team involved with adequate information on their profile
- The platform’s token exchangeability with the other cryptocurrencies and fiat is not highlighted
SUGGESTIONS:
- The platform token should be made exchangeable with the commonly used cryptocurrencies and fiat to enable the easy transactions in any currency
- The platform technical team should develop a mobile application compatible with Android and IOs to enable the users to upload their documents for the KYC process via their mobiles
- The platform white paper should bear the involved team members with a clear profile, working experience and the roles played in the project implementation
NOTE:
The platform is very viable as it provides easy KYC processes and data integrity for most of the companies hence limiting any associated loss due to hacking and money-laundry. I would therefore invest in this project.
- Because there may be time differences in information updates, accurate information about each ICO project should be verified through its official website or other communication channels.
- This information is not a suggestion or advice on investing in ICO funding. Please thoroughly investigate the relevant information yourself and decide on ICO participation.
- If you think there are issues or problems to be corrected on this content, or if you would like to submit your own ICO project to be listed, Please email us.