[ANN][ICO] KYC.legal - Blockchain identity verification

[MakesMe]

How could you be sure in your agents? And how customers can trust them?

[1714618735]

1714618735

[1714618735]

1714618735

[1714618735]

1714618735

[turlando]

How could you be sure in your agents? And how customers can trust them?

Confirm the authenticity of the document can only state bodies and police.
We are working on the possibility of cooperation with state bodies in an automated mode that will ensure the verification of the input data.
The agent confirms that it is the person on the documents that makes the data and that this person is alive.
Thus, the client who submits the documents upon presentation to our agent assumes responsibility for the truthfulness of this data.

[turlando]

In what countries you are going to launch your project first?

First countries will be Hong Kong and Madrid. Full information about this you can read in our White Paper: https://kyc.legal/WhitePaper-ENG.pdf

[varandas]

I'm afraid for my data. How did you protect them?

[turlando]

I'm afraid for my data. How did you protect them?

We will do this by applying four steps:
1) Personal information is protected by encryption and biometric data
2) Data is hosted on user’s device
3) User is able to chose information provided to service
4) Document verification with digital sign

[Jack.Doe333]

Why Hong Kong and Madrid were chosen for the first launch? Their location, cultural and political/geographical features are so different, let alone legal procedures.
Then again, if I applied for the verification during my stay in Europe, Madrid, in particular, would be possible to keep the verification approved and do not apply again if need is there, in Hong Kong?

[turlando]

Why Hong Kong and Madrid were chosen for the first launch? Their location, cultural and political/geographical features are so different, let alone legal procedures.
Then again, if I applied for the verification during my stay in Europe, Madrid, in particular, would be possible to keep the verification approved and do not apply again if need is there, in Hong Kong?

Yes, they are. But we oriented on the entire world, without limitation.
I think it's possible to keep verification, but its still in development, so I can't say 100% sure. You already can try our first stage of verification, on our app on both systems - android and ios.

[ArifBestari]

How you system will verify the documents whether it's real or fake. This process will go automated or all uploaded documents will be checked manually?

[turlando]

How you system will verify the documents whether it's real or fake. This process will go automated or all uploaded documents will be checked manually?

"The product consists of two parts. The first part is independent self-verification. This is for those cases when the relevant service only requires users to independently put in their information, without any additional authentication, at the users' personal responsibility. The second part is when one of our agents goes to a convenient place of the user's choosing and confirms the information entered. Going forward, the KYC.legal checks this information against numerous databases, and the user receives the maximum level of verification and identification.

The initial information entered can be anything, even false information. However, when the order is processed we check the cardholder and the party who is paying the money. The card is issued by a bank, which performs some sort of check on its end. Potential agents also undergo a fairly in-depth verification process: utilities bills issued in their name and to their address, passport or other identification document, details of bank accounts that have been in existence for at least 45 days (this ensures another level of reliability, we do not want fly-by-night agents). We check those who will then check our clients.
A document identification system will be used to check the documents submitted during user verification, and we also perform an AML check and use various other internal and external services that allow us to verify the provided documents.
During the second stage of document verification, we use agents who must confirm that the person exists and that the documents indeed belong to him or her.
It is similar to the example of receiving a credit card from a bank. The bank sends a courier who checks the recipient and his or her documents.

[patrik58]

Does your token have any value?

[urikmarkov]

What is the principal difference between your product and the other solutions that are gradually being introduced to the market? For example, MicroMoney.

[turlando]

What is the principal difference between your product and the other solutions that are gradually being introduced to the market? For example, MicroMoney.

As far as we know, MicroMoney is not directly involved in KYC. They collect data from mobile telephones and work together with credit agencies to assess the creditworthiness of clients for microcredits. This is a far cry from what we're doing.

[yahman]

Do I understand correctly that right now people can use your mobile application to pass the first verification step? And that later on after development of the second stage is over, there won't be any need to re-do the first stage? Will data for that first stage stored somewhere? and if so, where will it be stored and protected?

[turlando]

Do I understand correctly that right now people can use your mobile application to pass the first verification step? And that later on after development of the second stage is over, there won't be any need to re-do the first stage? Will data for that first stage stored somewhere? and if so, where will it be stored and protected?

You understand correctly. No need to do 1st stage again. "The product consists of two parts. The first part is independent self-verification. This is for those cases when the relevant service only requires users to independently put in their information, without any additional authentication, at the users' personal responsibility. The second part is when one of our agents goes to a convenient place of the user's choosing and confirms the information entered. Going forward, the KYC.legal checks this information against numerous databases, and the user receives the maximum level of verification and identification.

The initial information entered can be anything, even false information. However, when the order is processed we check the cardholder and the party who is paying the money. The card is issued by a bank, which performs some sort of check on its end. Potential agents also undergo a fairly in-depth verification process: utilities bills issued in their name and to their address, passport or other identification document, details of bank accounts that have been in existence for at least 45 days (this ensures another level of reliability, we do not want fly-by-night agents). We check those who will then check our clients.
A document identification system will be used to check the documents submitted during user verification, and we also perform an AML check and use various other internal and external services that allow us to verify the provided documents.
During the second stage of document verification, we use agents who must confirm that the person exists and that the documents indeed belong to him or her.
It is similar to the example of receiving a credit card from a bank. The bank sends a courier who checks the recipient and his or her documents.

And we using blockchain technology with our app. So you don't need to worry about your personal information - because its gonna be stored only on your device.

[tokensales]

Haha, your allocation of proceeds is so unclear and doesn't make sense at all. Please clarify what those allocations are and specify why you need them:

• $2.5 million - discounts for partnering funds ??
• $3.5 million - referral payments ??
• $1 million - team salaries
• $1 million - technology advertising (what the hell is technology advertising???)
• $3 million - marketing efforts and monthly road show participation (seriously?? so much money for marketing? wtf..)

Why do you need all of that? And why those amounts of money? How did you calculate? Why aren't the calculations in the white paper?

In other words, it seems like you are wasting $12 million of investor money

First of all, we don't have "investors". When you buy a token you become a tokenholder. Our token allows tokenholders to gain a profit by leasing the tokens to potential clients, which means that tokenholder is granted a monetary gain.

Our main goal for marketing is increasing the size of the project, drawing many services which will integrate our solution in their practice and increase the amount of clients in our base (verificated clients). That's why the main costs are located in marketing. More potential clients in need of verification mean that there are more ways for tokenholders to make use of their tokens.
These calculations show that with the goal that we have set we will need to spend this amount of funds.
Various companies were involved in these calculations, they prepared documentation that was based on the current economic situations in regions in which we are planning the development.
We thank you for your deep interest in our product and we will be happy to listen if you have any examples of projects with similar scope of goal and financial indicators we will gladly become acquainted with them. We hope that your constructive feedback can benefit kyc.legal!

You don't have investors, but token holders? So people don't invest money? They get tokens for free?

"Our main goal for marketing is increasing the size of the project, drawing many services which will integrate our solution in their practice and increase the amount of clients in our base (verificated clients). That's why the main costs are located in marketing. More potential clients in need of verification mean that there are more ways for tokenholders to make use of their tokens."

So... why 3 million? Can you show calculations? How much do you need to increase the size of your product? What kind of services do you need?

These calculations show that with the goal that we have set we will need to spend this amount of funds.

What calculations? Share them please.

And, you did not answer why you need so much money for:

• $2.5 million - discounts for partnering funds
• $3.5 million - referral payments
• $1 million - team salaries
• $1 million - technology advertising (what the hell is technology advertising???)
• $3 million - marketing efforts and monthly road show participation

Please answer these in detail.

Token holders buy, hold or sell tokens.
All information about planned costs is displayed in the White Paper. We will provide additional information about costs as the project develops. We have a working product, a strong team and support from partners.

Haha yes, so a token holder that has bought a token has invested money, right? So it's an investor.

All information about planned costs is displayed in the White Paper.

What a joke. There is no information in the white paper about how you came up with that costs. You don't explain why you need the money and how you calculated the amount.

We will provide additional information about costs as the project develops.

Huh? Wtf? How can you now allocate money already if it is not yet clear where you need the money for?

Why don't you tell us exactly what you need the money for and how you calculated it?

Can you nswer my questions, please.

[dfieldshorns84]

Can you nswer my questions, please.

All available information about planned costs is displayed in the White Paper. Our tokens are utility token, not securities, so tokenholders are not investors.
You are newbie on this forum.  Perhaps you should study the token sale procedure in more detail

[Dent_DC]

Looking forward to enjoy the evolution of KYC.Legal I got me some tokens to support the project. Keep it up guys!

[turlando]

Looking forward to enjoy the evolution of KYC.Legal I got me some tokens to support the project. Keep it up guys!

Thanks for your support! We will!

[ArifBestari]

How long will it take for verification of new user?

[turlando]

How long will it take for verification of new user?

Verification process via KYC takes less than 30 min. More about our 2nd step of verification you can read on our whitepaper - https://kyc.legal/WhitePaper-ENG.pdf