Know Your Customer (KYC) involves the set of processes where an organization demonstrates to regulators that they have assessed various risks, including money laundering, terrorism financing, credit worthiness and product suitability prior to and throughout any business relationship with the customer.
Anti Money Laundering regulations are designed to emplace controls that guard against the flow of illicitly obtained funds through the financial system. Counter Terrorism Financing refers to the set of controls aimed at eliminating the flow of financial resources to terrorists and terrorist organizations.
Product Suitability controls are intended to prevent the sale of financial products to clients’ on the basis that their risk, investment or credit profiles are not suited to the financial products being sold.
Credit Worthiness checks prevent lines of credit and margin from being extended to clients’ that are unlikely to be able to meet repayments.
Attention. There is a risk that unverified members are not actually members of the team
$52 500 000
$65 600 000
$33 514 141
Competitors are close to their product release final stages Poor token price performance of comparable projects when entering exchanges Lack of detailed market-entry strategyNo prototype available, lack of decentralization and not reasonable blockchain application.
Overestimated and pointless hardcap for project realization Too high token pool capitalization of 100M USD Poor share of tokens for tokensale (30%) with high team share (>50%) breaking decentralization principles and makes it possible to influence on token price Company does not provide any financial estimations of its business. Traceto and Cynopsis are simultaneously developed by the team increasing the risk of softening the focus CEO is engaged in 3 projects including other ICO projects being an advisor No specialist with strong marketing experience.
25 Mar:This project is about KYC, but they are like senior in the niche (KYC), because the other projects that want to operate in KYC niche are very low interest.They have some prominent clients: Bankex, ICON, EximChain and so on.So the project is worth watching. We try to participate in pre-sale.29 Mar: We have discussed it many times, the idea is interesting. Interesting observation about TraceTo: when we wanted to participate, it was very difficult, and now when everything red, they start offering pools. Even top projects have problems with fundraising.7 Apr: Traceto has moved their ICO date to april-may, a lot of projects are now moving their ICO dates because of the market conditions.24-Apr. Sergey: Traceto has decreased their cap, we will reevaluate the project.27-Apr. Alexey: They changed the token metrics. But we currently do not have plans to participate. Link30-May. Alexey: We decided to skip it.
The Traceto ICO offers an important contribution to improving the infrastructure of the crypto space. With a team that has an extensive background in both RegTech and blockchain, Traceto is well poised to leverage a successful track record and capture their target market.Still, development is still in the early stages and the success of the product rests heavily on its viability and usability upon deployment with partners like Kyber.
2-May. Passing this ICO due to concerns mentioned in the report.
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