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SWIPE is pleased to announce a strategic partnership with traceto.io, a decentralized Know Your Customer (KYC) network that seeks to bridge the regulatory and compliance gap between the real and virtual worlds. Both projects have joined forces in efforts to deliver an innovative solution that abolishes the struggle of compliance with KYC among companies dealing with digital assets.

traceto.io aims to develop a network to satisfy KYC requirements that companies are able to integrate and seamlessly use without having a dedicated KYC department and therefore saves costs and improves regulatory oversight from the legal perspective. Currently, companies dealing with digital assets falsely assume that anonymity overrides the need to comply with regulations, or conduct a substandard KYC process run by a department that is lacking experienced staff and sufficient budget.

The traceto.io team is highly experienced in providing KYC solutions and see blockchain technology as an avenue to revolutionize the sector. By hosting KYC data on a decentralized blockchain ecosystem, there will be enhanced security, ownership, privacy, and prevention of data misuse. This is under the strong belief that a centralized authority should not hold such privileged personal information, which opens up the potential for abuse by malicious actors.

One of traceto.io vision is to create an ecosystem that can give ownership of the KYC process to the community, by providing incentives to users to comply with regulatory requirements while maintaining privacy. traceto.io will also incentivize the creation of Verifiers, who are highly trusted users that underwent a strict vetting process and will serve the purpose of a gatekeeper to the Users’ data and earn T2T (traceto.io’s utility token) by staking a minimum amount of T2T.

Strategic & Marketing Partnership Details

SWIPE’s partnership with traceto.io is aimed at highlighting the importance and benefits of stringent KYC by providing a steady stream of incentives to users who undergo the process with traceto.io. SWIPE will be releasing a mobile application called Blockpost which will provide users with the latest cryptocurrency related news straight to their smartphone’s lock-screen and host campaigns that reward users for completing various tasks. (also known as earndrop, which is an effort based airdrop)

Growing the community is one of the highest priority for any cryptocurrency and a good amount of tokens are usually reserved, to be airdropped to the community for its efforts. The problem is that airdrops are becoming less effective as a way of building a real community as malicious actors exploit the opportunity to gain free tokens. Due to the lack of a verification process, people can create multiple accounts that are indistinguishable from real accounts to obtain free tokens. Many cryptocurrency projects are yearning for a way to reward their tokens to real people who contribute real value to their projects, be it through leaving feedback on their website, spreading the word through social media and creating content.

Incentivizing users to do due KYC process through traceto.io’s platform

Blockpost will classify its users using a tiered system, awarding the highest tiers to those who have completed their KYC with traceto.io. The highest tiered users will have the widest and most exclusive range of campaigns to participate in, especially if campaign organizers desire quality users who are not just out for a quick buck.

Imagine, an app that allows you to interact directly with airdrop campaigns and complete the tasks requested in a hassle-free manner.

Through Blockpost, SWIPE aims to market adoption of traceto.io’s KYC platform as users would realize the benefits of being placed in the highest tier. SWIPE believes that the process of making verified users complete tasks for rewards will be the natural evolution of airdrop campaigns as randomly awarding unverified users is no longer adding much value to businesses.

Marketing for traceto.io’s partners through SWIPE’s app Blockpost

Many current and upcoming cryptocurrency projects and exchanges, such as Kyber Network(a decentralized exchange) and Digix(a Digital Asset tokenization business), will be partnering or integrating with traceto.io because of their manifold benefits in providing a cost-effective, convenient and comprehensive solution to the KYC process. traceto.io can channel these businesses to Blockpost to host their marketing and community building campaigns. Businesses can be assured that they will be targeting real people who are able to provide real value to their business by only allowing their campaign to be interacted by traceto.io verified users. This essentially changes the game from having to randomly airdrop tokens to a large number of people and hoping for traction, to a strategic way of obtaining useful and vital feedback. With less phony participants leeching the reward pool, this would also allow business to increase the size of their rewards for traceto.io verified users.

This is a partnership that is in tandem with the steady evolution of how rewards are being given out. With a constant stream of ICOs launching each week, the need for seamless KYC is critical not only for whitelisting investors and conducting marketing campaigns with a verified community but complying with increased government regulation over the cryptocurrency space.

Discover more about what SWIPE and traceto.io are trying to achieve below and join them in their telegram community and social media to learn more!

About SWIPE

SWIPE aims to create a network of apps that are able to work together to create valuable data as a collective, instead of relying on centralized intermediaries. As part of the network, all data collected will be aggregated, anonymized and encrypted. It will then be channeled into an analytics engine which packages it to be monetized directly to data buyers in a decentralized data marketplace. This process provides transparency to data buyers as they can trace the origins of the data, creates a fairer way for app developers to monetize data and empowers users by giving them full control and ownership of their data. SWIPE is invested by Kenetic, a blockchain firm that invested in huge blockchain projects like Zilliqa, ICON, and Bluzelle.

About traceto.io

traceto.io is a decentralised Know Your Customer (KYC) network that provides an inclusive KYC solution to cryptocurrency and blockchain product companies by fusing Smart Contract and Artificial Intelligence technologies. Leveraging on over 5 decades of experience in Compliance and RegTech, traceto.io’s vision is to bridge the gap between the real and virtual world KYC processes.

Homepage: swipecrypto.com / traceto.io

Facebook: SWIPE / traceto.io

Twitter: SWIPE / traceto.io

Blog: SWIPE / traceto.io

Telegram: SWIPE / traceto.io