4 Reasons why you should consider KYCbench

Here are 4 reasons why KYCbench should be considered by any project that is looking to raise funds as an ICO or CDE are as follows.


GDPR and ISO 27001 Compliance, KYCbench understands the need to protect personal data and has been preparing for the GDPR for the last 6 to 8 months. KYCbench also recognizes that if ICO’s and CDE’s do not comply with the GDPR and ISO 27001 that not only can they personally be held liable but also it will have a negative impact on the entire blockchain ecosystem.

The media is quick to showcase blockchain projects that get shut down by a regulatory body and this may have a short term effect on price of cryptocurrencies as a whole (especially if the ICO has raised substantial amount of money) and long term investors may be hesitant to invest more in good ICO/CDE projects.


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Why KYCbench’s solution


Cryptocurrency exchange platforms are starting to exclude some cryptocurrencies that have not properly implemented the KYC processes. Not running these checks poses a great risk to a project long term. Just recently the Financial Times had reported that the Exchange-backed GDAX says that it “plans to list only a fraction of the hundreds of new digital coins that have been invented this year”.

Future ICO projects


As noted by CCN cryptocurrency exchange platforms are starting to exclude cryptocurrencies that have not implemented KYC due diligence procedures. CCN also mentioned how an ICO called protostarr was shut down. Due to incorrect KYC procedures (amongst other issues). In protostarr’s case funds needed to be returned to investors.


Blockchain projects and the banking sector


Until a regulatory framework is created banks will continue to be hesitant to consider ICO funded projects as legitimate investments for their clients. By at least showing GDPR and ISO 27001 compliance projects that receive funds through the ICO funding process can at least show they are aware of the need to be somewhat regulated and this can only be a positive improvement for the ecosystem.
KYCbench provides a customized solution which can be plugged in to an existing ICO’s website or an ICO can register and its users and investors can login directly through the KYCbench’s platform. KYCbench’s platform has been designed on GDPR and ISO 27001 requirements. KYCbench strives to be the main go to platform for all parties to ensure KYC procedures are met with limiting the risk of any complications for the ICO providers and ICO investors into any particular fund raising project.
KYCbench has worked on ensuring that the services offered are easy to access, safe and are always complaint to regulatory needs. If you are an ICO that requires KYC/AML checks or you are an investor that is looking to process your personal data to be vetted for a project feel free to contact KYCbench. KYCbench provides 24h support via telegram where you can let KYCbench know your requirements.


KYCbench, your reliable KYC partner
www.kycbench.com
GDPR & ISO/IEC 27001:2013 compliant


Please contact KYCbench today, the most reliable ID verification processor at: contact@kycbench.com


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