Know your customer («KYC») is the procedure, which is connected with сontrol of business partner' s identity. It is interesting to note, that the process aims to resolve juridical problems in future. It also helps to develop the project more effectively. But in spite of the benefit of the KYC procedure, a lot of business owners and entrepreneurs disown it. The important reason for this attitude — it is a necessity of demonstration of the personal documents. The business owners don't confide in the policy of the company, which requires taking part in the process. The platform ICO Pass helps to restore the reputation of the KYC. It is important to review in more details.

A stitch in time saves nine

The project from Latvia decided to improve the procedure. Their main offers apply to cheapest costs and high rate. A large number of people know, that KYC — it is a long time period. Some people manipulate the personal data and information and of course, make some mistakes. It is caused by a human factor. The project ICO Pass dissolves this problem: all data are operated in automatic mode. It takes less than 10 minutes. According to the official information of the project — it takes 7 minutes. The client also will know, that, it is not necessary to repeat this process. Traditionally, an unforeseen situation arises, when a client will do it over and over again.

Value for money

Another problem is connected with the high cost. It also depends on the country, for example in Switzerland is costs from 1k EUR. The ICO Pass offers to pay 7 EUR per check. It is the optimum inventory level for all business owners. ICO Pass will conduct the public sale token on 6 April 2018. The platform has its own token, which is named ICOP.

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