KYC checks more important, there are many organizers who choose the path of ICO’s most can’t stand (and not at all KYC information gathering). So one of the ultimate purpose of ICO Pass is allowing verification of KYC as easy as possible for the organizer of the ICO.
ICO Pass trying to make verification of KYC through a simple and easy task. They developed a set of tools to collect, verify, and exchanging information. There is an increasing demand for this type of service. The intended primary customers ICO Pass is someone who will invest in the sale of the token. A person’s identifying information such as your name, phone number, address, photo id, and email was first collected. This information is then checked with several providers. After it is signed and encrypted with the key.
ICO exploded in popularity, past the classic Venture Capital funds. However, without examination of the KYC (Know Your Customer), ICO has trouble in Exchange for fiat currency kriptocurrency-EUR, USD, and more. Because ICO is getting set up, it makes sense to start thinking about KYC.
The main organizer of the ICO’s attention at the moment is on attract investors and not the AML compliance. This creates a big problem for the organizers because about 50% of the funds of the ICO cannot be exchanged with fiat currencies-bank declined.
The Structure Of ICO PASS
The document is divided into sections. The first part describes the workings of the main components of the ICO’s Pass-mobile client, web services verification, KYC and provider of smart contracts that are used to store and retrieve information about the address of the ethereum. The second part describes the mechanics of the sale of the token.
Finally, at the end of the document, there are a lot of attachments. This includes a more in-depth explanation, and also a complete source code at the moment the Ethereum intelligent contract publishing this document.
There are two types of programs in the sphere of ICO ethereum Pass:
infrastructure contracts to verify key holder, publish a signed attribute, attribute search, etc.
a contract verifier-contract and smart library to consume information ICO Pass.
Working from these assumptions, we have decided some of the design goals:
payments from an address that does not meet the terms of the contract should be rejected at the level of smart. This will reduce the amount of work required afterwards to restore the contributor are not eligible.
allows verification of the contributor should be simple–ideally with not just a modifier function Solidity. This should make it easier for the constraints of the audit.
In addition to proxy contracts can be used for forwarding only verified funds. However, because of the crowd who audited should audit the overall completion of the contract, then the proxy does not offer significant advantages over the Solidity of the function modifier.
To satisfy this constraint, the data need to be KYC communicated from Ethereal. In block, ICO Pass consists of a series of contracts, which makes it easy to:
prove ownership of the ethereum’s address to the verifier.
a claims registry, where the address of the subject can be customized with data (signed by the verifier are provided).
Originally the Organizer will adopt the ICO ICO Pass
, have to trust the signature verification key ICO Pass-because there will be no other estimator. However, in theory, the new measure could appear and send information about the address of the ethereum. In addition, the ICO Pass also provides some non-service blockchain:
mobile applications to collect information (including photo contributor). WebService for interacting with mobile applications, and sign the KYC information collected with mobile applications Pass ICO.
Mobile applications will open-source crowd after ICO. However, he asked the private key from the end user. WebService, which verify their KYC and transmit information that is signed to blockchain, will not be made open source at first.
ICO PASS Benefits
The process is automatic and takes 7 minutes. There is no place for errors
Can add and remove multiple databases for identity verification.
Transparent about what database checked and how akuratnya-how much of the population in certain countries which include.
Blockchain technology ensures that once verified, it will remain the same. The other party can rely on this and no need to start the process again.
The information is encrypted and only the person who can be identified that can access it.
Blockchain technology provides higher security at a lower cost. ICO Pass also verifies the address data you want to access the Ethereal KYC.
What is a token of our ICOP?
We do not issue a token as a key service API (token utilities), we also did not create the concept’s “evidence of something’s” recently to keep our own blockchain. We are building our system above the virtual machine’s Ethereal. All costs and payment transaction will be at the ETH.
We decided to keep our small ICO and offer easy, so our ICOP equivalent shares for ICO services Pass, or a token equity amounted to a total of 60 million. Our idea is to distribute the revenues generated by the ICO’s Pass to all ICOP owners through Smart Contract (SC). ICOP holder will be able to query smart contracts for ETH per ICOP currently allocated online.
There will be a beginning of the ICOP 20 million sold. We will use smart contracts Ethereum to arrange the sale of the token and the future distribution of funds will be regulated through smart contracts as well, since this is the method that is most easily done in our new digital world would dare. . We are very pleased with the possibility of a virtual machine and provides the Ethereum has taken the decision to support the community by donating 10% of our net income (received through smart contract) to the Foundation of the ETH. On average, about 21% of the total revenue will be deposited quarterly and ICOP holder will be able to claim their funds in accordance with it. See the example following the distribution of income from in-app purchases from verification services Onfido.
Ann Thread :https://bitcointalk.org/index.php?topic=2854220
My Ethereum Address:
Tags: #cryptocurrency #cryptonews #ico