Verified Crypto Company (VCC) is a new third party crypto/blockchain company verification and listing platform to help avoid scams and frauds prevalent in the sector. Any organization working in this field can get themselves independently checked through Verified Crypto Company .
June 26, 2020. Verified Crypto Company has launched its online listing and verification portal for cryptocurrency-related platforms. The idea is to provide third party independent audit and background checks for companies operating in the vast crypto sector. The service is available online and can be used for any kind of businesses operating in the crypto industry.
Why is there a Need for a Third Party Listing like VCC in the Sector?
The crypto sector, just like any emerging landscape has its fair share of illegal opportunists and scammers. There are simple email scammers who tell outright lies in emails and wait for innocent people to respond to them. Then, there are more complex scammers who use phishing techniques and other illegal ways to get your information and then rob you of your money. Now online security and tactics is an entirely another subject and the first thing one can do is to make sure that the platforms being promoted, used and talked about are safe for users and whether or not they can walk the talk.
Several companies have already enlisted the third party services of VCC, including PureStake, CryptoMood, Cryptounit.com and others. A full list of these verified platforms can be seen here. The list is growing with time may be virtually expanded to get all major crypto outlets listed in one place.
Why Verifying a Crypto/Blockchain Platform is a Good Idea?
1. Building Trust
Its all about Trust in the crypto/blockchain sector. One cannot trust the words of a website people are visiting. It is great to have an integrity-based platform to list the key verifiable acts of platforms in one place and tell the viewers what exactly it delivers.
2. Background Checks
The advent of social media has compounded the threat of fake news and online manipulative/speculative bias. Shady elements take advantage of this confusion and use this as ammo. Just as news requires fact checkers, crypto projects require background checks that ensure that the claims made by the new companies are accurate and to what degree.
Once fully audited, companies can then use the Verified Crypto Company logo on their websites to show that they have passed the rigorous third party scrutiny.
3. 3rd Party Know Your Customer (KYC)/ Anti Money Laundering (AML) Certification
The crypto/blockchain sector was once largely unregulated by the governments around the world. However as things have become lucrative and the number of users has skyrocketed, governments have become involved in its regulatory outlook. Most crypto outlets are required to have KYC and AML for its ownership and its users. Verified Crypto Compnay can help independently show that there are actual KYC and AML approaches being used to attach identities to user accounts. It is a very complex and specialized approach to determine the facts when it comes to KYC and AML compatibility.
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