KYC.LEGAL will launch its ICO on November 29, 2017, using the box solutions provided by ICOBox, the world’s largest provider of ICO solutions. The project is developing a blockchain identity verification platform that allows quick and simple user verification for compliance with Know Your Customer (KYC) requirements. KYC.LEGAL plans to issue a total of 42,000,000 tokens during the ICO. The structure of the token sale is as follows: the company will release 35 million KYC tokens during the ICO at an initial price of $1 per token. There will be a hard cap of $35,000,000. The company will issue an additional 20% of the released amount, 15% of which will be reserved for the KYC.LEGAL team, and 5% of which will be set aside for operational costs.
“We are so excited to offer our tokens for a product that we feel will change the face of user identification forever. The ICO will make it possible for us to introduce a remote verification tool to safely and efficiently solve the current problems with user verification,” commented KYC.LEGAL founder Daniil Rausov. “As the number of users of a wide range of apps, digital payment and other online services increases, leading to higher rates of digital penetration, KYC requirements are becoming more and more prevalent. Complying with these requirements is a difficult and time-consuming task. Our unique decentralized ID verification application is designed to take the hassle out of this process by facilitating self-verification by users and third-party verification by agents, while allowing service providers to meet KYC requirements.”
The project has already developed a ready-to-use app for self-verification that can be downloaded on devices running on iOS and Android. The company also plans to introduce an agent verification function in the near future. A token holder will be able to use this function to choose a nearby company agent, who will come and verify the user’s identity and documents within 30 minutes.
“We are confident that the ICO will be a success. Considering the current business landscape in personal identification, the time is ripe for the appearance of a product such as ours,” added David Drake, an advisor to the KYC.LEGAL project. “The app has advantages for both users and service providers. Users receive a quick and painless verification process, with each blockchain user being able to remotely store and automatically update their data. Service providers are able to build relations with users without a middleman, thereby reducing delays. They also receive reliable and secure user information, ensuring KYC compliance.”
The ICO will run until February 1, 2018, or until all the tokens have been sold. For more information see: https://kyc.legal/.