Notakey is announcing Token Sale for ICO Pass – KYC solution for ICOs. Funds raised will further improve first-of-its-kind, affordable, backer identification through blockchain technology to ensure adherence with state regulations before ICO launch.

 

Notakey, the authentication and identification service provider for enterprises, has announced it will be launching a token sale for its ICO Pass product. To demonstrate the viability of the product, ICO Pass will be used for contributor KYC starting from March 30th. On April 6th the Token Sale will start and the tokens sold will guarantee 7% of total revenue, estimated to be €3.36m in 2019.

While Bitcoin price has dropped x2 from the beginning of the year, funds raised through ICOs until Feb 18th reached ? of total funds raised in 2017*. This Tuesday world leaders at G20 Summit agreed that July is a firm deadline to come up with information what is required for forming regulations. During summit U.S. Treasury Secretary Steven Mnuchin and an anonymous Japanese government official expressed concerns about cryptocurrency use in illegal activities. It is a clear indication that this will mean stricter KYC regulations for ICOs. That is what for ICO Pass is developed – it provides the most accurate and fully automated customer due diligence tool. Using ICO Pass, ICO organizers will be certain that their funds will not be frozen due to not meeting AML regulation. Once verified investors will not need to undertake due diligence again as this information can be shared on the blockchain and ensure their assets won’t be frozen by regulatory authorities saving both time and resources.

Janis Graubins, Co-Founder, Notakey: The explosion of ICOs in 2018 has seen blockchain technology companies enter the mainstream consciousness, however regulators and institutional investors continue to have concerns regarding compliance and accountability. Notakey’s ICO pass aims to provide the solution to regulatory concerns and will also work as a platform for promising ICOs to be discovered by already verified investors.

About Notakey:

Notakey was formed in response to the European Parliament’s revised Directive on Payment Services (PSD2) to provide scalable solutions for banks authentication and identification procedures. Since it was founded in 2015, Notakey has received a grant from the EU Research and Innovation programme Horizon 2020 and raised over €200,000 from private investors. Currently Notakey products are used by several blue-chip banks and financial service providers from Switzerland and Latvia.


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