30 March 2018

traceto.io ICO Review


  • Project Name: traceto.io
  • Token Symbol: T2T
  • Website: https://traceto.io/
  • Whitepaper: https://traceto.io/static/wp/traceto_io_whitepaper_0902_v1_26.pdf
  • Hard Cap: 30 millions USD (USD 24 million-private, USD 6 million-public)
  • ICO token price: $0.1 for private sale
  • Total tokens issued: 1 billion, but only 300 million for sale
  • Bonus Structure Public Sale: N.A.
  • Bonus Structure Pvt Sale: 5% bonus on private sales, no lockup period for tokens or bonus tokens( only the teams tokens have a lockup period of over 2 years)
  • Presale or white list:  No pre sales, there are only two phases of sales-private and public.
  • Timeline:
    Private Sale: Started on 9th February 2018 and will end on 7th march 2018 ( please visit their website for the most up-to-date information)
    Public Sale: 4th April, 2018
  • Minimum Contribution: For private round- USD 250k, for public sale-1 ETH
  • ERC-20 Token: Yes
  • Countries Excluded: USA and CANADA
  • Token Distribution Date: 2 weeks after the public sale

Video Summary (video is 03:49 long):

Project Overview

What does the company/project do?

  • This company offers an inclusive KYC solution to cryptocurrency market participants, enabled by fusing smart contract and artificial intelligence technologies.
  • traceto.io is a decentralised digital KYC network that gives ownership, control and management of KYC processes back to the community. It intends to provide incentives to users to organize themselves in a symbiotic relationship with each other that guarantees privacy yet complies with regulatory requirements.
  • Leveraging on over 5 decades of experience in compliance amongst the founding team and advisors, traceto.io seeks to revolutionise the e-KYC process, bridging the gap between physical and virtual world KYC processes.
  • traceto.io is powered by Cynopsis Solutions Pte Ltd., a RegTech(regulatory technological) company founded and based in Singapore. They help clients with regulatory requirements including anti-money laundering (AML), counter terrorism financing (CTF) and other KYC related procedures.
Problems with current KYC processes
  • EKYC - Non standardized and vary across jurisdictions
  • Manual KYC is often inefficient, error-prone and tedious
  • Analog KYC processes also present compatibility issues as the parent organization seeks to digitalise KYC
  • Current KYC are grossly inefficient and can be overcome by using blockchain

How will it solve the current inefficiencies of KYC process?

  • It plans on using a digitalised and standardised form of identity across the countries and nations
  • It will take care that the person doesn’t comes under 3 broad categories of profiles that are: Politically exposed persons (PEPs), sanctioned persons or terrorists, and profiles with adverse media
  • The passage of time may render the previously checked profiles out-of-date, resulting in an increased AML or CTF risk so it will keep updating the data according to the new international KYC standards
  • Robust ongoing transaction monitoring of clients activities

The Working

  • Decentralised Application (DApp) is the User’s main interface to the traceto.io Network. The onboarding process begins by asking the User to upload his Personally Identifiable Information (PII) and pass a liveliness test. The PII is then encrypted and stored in a secure encrypted vault
  • The image below explains how the rest of the process takes place in brief where A is the user, B is the exchange he wants to join, C is the decentralized app which verifies the user through various KYC processes, D is the community courts, E is the artificial intelligence unit and F is the KYC provider

  • Initially, traceto.io will focus on addressing AML and CTF problems, the current pain points for many crypto-related businesses. Over time, the scope of the traceto.io Network will evolve to address questions related to Product Suitability and Credit Worthiness.


On 9 february 2018, the private sale commenced, which closed on 7 march 2018. The public sale will start in mid-march, 2 weeks after which the tokens will be distributed.

Z= Zero Knowledge AML Screening
C=Community System
A=A.I. & Tx Monitoring
P= Public Governance
S=Storage System

  • Q1 2018 – Launch of site
  • Q2 2018 – ICO complete
  • Q3/Q4 2018 – Testnet with APS and CAPS
  • Q1 2019 – Network launch
  • Q3 2019 – Video OTP public governance test
  • Q4 2019 – Public system

How different it is from its competitors

What are the tokens used for and how can token value appreciate?

The token is called T2T( traceto.io token).This is an ERC 20 token which can be used for availing KYC services or to become a verifier in the traceto.io network. The value of these tokens is linked with the growth and adoption of the network.

Where T2T tokens are used and given:

  • The Requesters have to pay in T2T to obtain KYC services of traceto.io network.
  • To become a verifier, Users are required to stake a certain amount of T2T. (This stake will be a small initially, but increase as the number of Users and Verifiers increase)
  • Verifiers are rewarded for performing KYC tasks in T2T.
    • A Corporate Requester is an ICO, Exchange, or other crypto business that requires KYC services of the traceto.io Network.
    • A User is an individual who is onboarded with the traceto.io Network and
    • A Verifier is a trusted User who is a gatekeeper to the users information.
  • Tokens are also used to incentivize prospective clients and partners.
  • Tokens are used as a medium of exchange for existing participants of the traceto.io Network.
  • Invitation bonuses are also awarded in T2T.
  • More T2T can be earned by becoming a Community Verifier. Staking T2T is required to become a Community Verifier, who can earn T2T by performing facilitating functions.

How tokens value will be appreciated:

Every time T2T is spent to procure KYC services, a small percentage of the tokens are burned. The exact amount to be burned will be decided in Q3 2018. This potentially brings about an appreciation of value for the remaining tokens as the total number of T2T in circulation continually decreases as there will not be another token generation event.


The company is based in Singapore. The team consists of 10 members, in which 5 members are of core founding team and 5 members are advisors. A brief bio of the key team members is given below:

Founding team:

  • Chionh Chye Kit - CEO & Founder,
  • Dias Lonappan - CTO & Co-founder
  • Ooi Gene Yan - Chief Data Science Officer & Co-founder
  • Dan Poh - Chief Marking Officer & Co-founder
  • Robin Lee - Co-founder


  • traceto.io is powered by Cynopsis Solutions Pte. Ltd., a RegTech company founded and based in Singapore with over 450 existing clients,which makes it easier to launch their services as they are using the same network already.
  • Projected high demand, driven by consumption from an increasing number of ICOs and Exchanges, and tighter AML and CTF regulations.
  • Ease of onboarding as various Exchanges and ICOs participate in the T2 network. Cynopsis Solutions has an existing pipeline of 50+ crypto clients.
  • The current KYC processes are grossly inefficient and many of its shortcomings can be overcome by using blockchain and related technologies.
  • traceto.io network is way ahead of its competitors like civic,uport and selfkey in the matters of design,technology and security .
  • Many countries have become strict and serious about regulating the crypto market like USA, china, South Korea, japan, Singapore, UK etc which makes it extremely necessary for the companies to follow KYC norms in order to survive and maintain the reputation.


  • The roadmap is too long. The platform will go live in early 2019.
  • Use case of t2t tokens are limited.
  • Blockchain projects like Civic, Selfkey, Thekey may go live this year and may compete with traceto in the same segment.
  • The ICO cap of 30 million is too high for a KYC project.


Overall, we are neutral on both the flipping and long-term potential for this ICO. Our thoughts on buying the tokens for flipping and investing for the long term are as follows:

For flipping: Neutral

For long-term holding: Neutral, Good to buy on exchange in Q3 of 2019.

For more information about the ICO, please visit the following links:

Website: https://traceto.io/
Whitepaper: https://traceto.io/static/wp/traceto_io_whitepaper_0902_v1_26.pdf
Telegram: https://t.me/tracetoio