Initial Coin Offering (ICO) has been increasingly popular day by the bay. More and more people are getting interested to invest in ICO. However, there are some problems are faced by newbie investors. Cryptocurrency industry is mostly unregulated causing a lot of scam ICO projects emerging. Naïve investors lose their assets as they are cheated by an ICO scam. Their funds are stolen and illegally used. Considering these problems, ICO Pass is here to help identify and verify Know Your Customer (KYC).
Why is KYC important in ICO sales and trade? KYC is actually a new concept in a global economy. This concept is emerging because there is no fixed legislation that regulates ICOs and their legitimacy. Unclear regulations lead to the emergence of illegal activities held by scam projects. Therefore, it is crucial to know any information about investors and other parties involved in any ICO projects.
There are a number of reasons why KYC does matter thus it should be included in any ICO procedures. Without doing KYC, some cryptocurrency trades may undergo a crackdown. On the other hand, if KYC is properly implemented, it can increase ICOs credibility for both investors and banks. Also, knowing necessary information about global investors can help raise funds and succeed in the projects.
Although at the moment, KYC compliance is not mandatory yet, it is estimated that in the near future, this compliance will be emphasized deeply. Therefore, ICO Pass is ready with its assistance and contributions to provide a safe platform used for quickly and efficiently verifying customers.
As briefly mentioned above, ICO Pass is a crypto platform that aims to carry out KYC checks safely, fast, and efficiently. As we know, even until right now, the procedures for Know Your Costumer are typically administratively complicated, lengthy, and insecure. In addition, the system is prone to errors due to manual methods which are often inaccurate. Furthermore, it sometimes difficult to confirm the inaccuracy. This opens a door for scammers and hackers to conduct illegal activities that can harm investors.
Based on the existing problems, ICO Pass is trying to create a smoother and cheaper procedure that results in faster and more reliable result. Using ICO Pass token (ICOP), KYC check will be much easier. It can be automated and only takes several minutes to complete with no errors in the computations. In short, ICO Vision is to incorporate the blockchain-secured system for KYC.
In order to achieve the company’s vision, ICO Pass is soon starting ICO token sale for their ICOP (the name of ICO Pass token). For the ICO sale, there will be 20 million tokens issued. The ICO start date will be on 28 February 2018 and it will last only for a couple of days. On 2 March, the ICO sale will end. ICO pass already prepared some bonus plans for early buyers. For example, buyers who buy ICOP during the first hour will get 15 percent Ethereum bonus.
|Soft cap||500,000 EUR|
|Hard cap||5,000,000 EUR|