Know Your Customer, referred to as ‘KYC’, is the process of knowing and identifying your customers. This is an integral piece of launching a token sale for Cryptocurrencies because of the regulations in certain countries like the United States, China, Korea and so on.
Any type of money service business (MSB) requires regulatory processes enforced by the Financial Crimes Enforcement Act (FinCEN). Your ICO must pass the Howey Test to avoid any security regulations.
Our KYC package includes form set up, website integration, location verification, banned country verification and KYC data storage. The KYC set up is custom to your ICO’s token sale goals. We will design a curated KYC market plan to fit your specific needs. The process will start with advising on website integration best practices and go all the way to verifying investors to get to token sale with custom script hash information.
Key Components for a validated KYC set up include:
- Secured Database for entry country, personal, contact, address and identification document information
- Batch polling
- Member login for certified investors
- Pre-sale, ICO script hash and wallet set up
- Allcode will do all of these