ICO has been receiving great attention from regulators all over the world. Their concern is on the problems occurred in exchanging ICO into fiat currencies. For your information, most banks reject the exchange of ICO into fiat. This can be solved by Knowing Your Costumers (KYC) check. There are indeed some digital KYC check tools available but they are very expensive that many ICO organizers are reluctant to use the tools. Some of them are even not accurate. Moreover, the database of clients’ personal data is sometimes difficult to access. Considering all of this problem, ICOP Pass proposes the use of the new tool for KYC check which is exceedingly secure and accurate.
Components of KYC
The KYC tool proposed by ICO Pass consists of at least three main components. The first is a mobile app. This app is designed to be securely and conveniently used not only to KYC check but also pay for the service. Second, the tool has an ability to identify ID document, PEP, email verification, and sort of. Third, it assists the profiling of new clients’ information. So, it is obvious that using the tool, the company can pass the regulation of doing KYC and protect their ICO projects.
How is ICO Pass Different from Other Existing Tools?
ICO Pass is leading to a number of reasons. While other KYC checks typically take a very long time to proceed and are prone to errors, ICO pass can do the work in only 7 minutes. Moreover, there is no place for human errors. Another thing that makes it accurate is the ability to use many databases for verification. It is very different from typical solutions that use only a few databases.
Furthermore, the cost of existing tools is very expensive. It can reach more than 200 EUR per check. Can you imagine that? ICO Pass is much cheaper than that. Meanwhile, ICO Pass can ensure the transparency, privacy, and security of databases. It is because of the use of Blockchain technology that guarantees the highest level of security. There is a unique encryption code to protect the information in which only the identifiable person can access it.
Information about ICOP Sale
In order to achieve its goal of developing a platform for clients’ data identification and verification, ICO Pass is planning on offering their tokens (ICOP). The type of the sale is auction sale meaning the value of the token is time-dependent. It means the ICOPs’ price is getting lower the longer the sale runs. Meanwhile, the duration of the sale depends on the number of available tokens. The more the tokens are sold, the end date is getting nearer.
There will be 20,000,000 ICOPs offered in the sale. The price of the ICOPs is the highest in the beginning. Investors who feel that the price is fair will buy the tokens early but they can also wait until it decreases at a more reasonable price. Bonuses will apply for those who purchase the tokens during the first-hour sale.
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