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The new born world over the blockchain functions mostly anonymously and its safety is something that is considered to be very high but really is it? The crypto or digital currencies will continue to grow at a very fast rate in the times to come but this system that works anonymously can't simply be neglected. Seeing the progress of the blockchain, it must be taken into consideration to implement a process that may be reliable to recognize the identity of the users must be implemented to it in order to maintain safety throughout the network for a longer period of time. The problem arises as the process of KYC is simple in the real world but the same thing when has to be done on the virtual world, becomes a challenge that not everyone can take.
**The Solution**
Where there are problems, there are always people who work upon proving solutions to negate them. One such example is the team at Traceto. It is a company cum platform that will be helping the businesses over this new ecosystem of blockchain to have a consistent and reliable way of conducting the "Know Your Client" procedure so as to tackle anti-money laundering (AFL) and counter terrorism financing (CTF). These things have been taken with utter seriousness in the centralized system with regulators even keeping a strict watch as to whether it is carried out properly or not by each institution that is liable to do so. But blockchain being new, there is a long distance to be covered in the path of integrating this system and Traceto is putting in its best to get things across the line.
Many companies don't implement this process in the digital ecosystem due to the cost that it may involve but Traceto wishes to make each and every company be able to conduct the KYC of their consumers or customers. Giving companies the power to go through the database of their customers, Traceto will check against any records that might make the customer suspicious to any ill activities. The KYC process to be carried out by Traceto will be done by combining the power of community members as well as artificial intelligence in order to provide a double surety of the identity of each and every person.
The process of KYC will require a number of steps to be performed such as facial recognition, optical character recognition and video recognition. It might cause a little discomfort on the part of the customers but it's better to take small amount of pain in the present in order to prevent any mishap in the future.
**A final word**
Complying with the unprecedented rise of crypto currencies and the exponential increase in the number of people trusting and using digital currencies and the companies that run over it, it becomes highly necessary to see to it that no illegitimate acts are done over the blockchain that may defame this growing ecosystem. This will be well taken care of by Traceto through its implementation of both humans as well as machines for the same work. Blockchain and the decentralized systems have been always considered safer in regards of all aspects when compared to the centralized system and this process of KYC when successfully implemented across all platforms on blockchain will only add new level of security to it.
**For more information**
**Website – ** [**https://traceto.io**](https://traceto.io/)
**Whitepaper – ** [**https://traceto.io/static/wp/traceto\_Whitepaper\_v1\_34\_11052018.pdf**](https://traceto.io/static/wp/traceto_Whitepaper_v1_34_11052018.pdf)
**ANN** - [https://bitcointalk.org/index.php?topic=2911588.20](https://bitcointalk.org/index.php?topic=2911588.20)
**Telegram** - [**https://t.me/tracetoio**](https://t.me/tracetoio)
Published by **coineaglebt**
**Profile** https://bitcointalk.org/index.php?action=profile;u=1936073
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