Quote from: romangor on July 17, 2018, 07:41:23 AM

Quote from: Lasthero999 on July 17, 2018, 07:34:58 AM

Quote from: uyga78 on July 17, 2018, 07:26:51 AM

Quote from: Lasthero999 on July 17, 2018, 07:20:43 AM

Quote from: uyga78 on July 17, 2018, 07:07:53 AM

It is a requirement to use KYT and KYC if you want to work with banks?

Yes. Ivy needs Know Your Customer (KYC) to satisfy Bank Secrecy Act (BSA) and global AML requirements hashed into the blockchain and accessible as required.

And what about KYT? It is needed too?

Ivys technology will provide Know Your Transaction (KYT) information that greatly exceeds regulatory requirements as will be hashed into the blockchain and accessible as required.

could you please explain why it is so important to have these?

Nearly all countries have adopted and commit increasing resources to the enforcement of AML types of laws, consumers and businesses are accustomed to financial institutions requesting KYC information to verify the identity of a customer when a new financial account is opened, or when a large funds transfer is made.