What: Tokensoft - candidacy and eligibility as a Compliance provider
Vote: Saturday October 15, 2022 @ 9pm UTC
The DAO is confident that Tokensoft is more than qualified to serve as compliance provider to the SoftDAO. They have an integrated and proven compliance user flow. Since being founded in 2017, each launch has been structured around legal compliance to ensure the legitimacy of token events across several jurisdictions.
Tokensoft’s compliance flow is integrated with a third party compliance provider https://www.onfido.com that provides ID verification, selfie verification, and sanctions/PEP/legal regulatory warnings. Onfido’s machine learning improves with each applicant it processes and has been integrated into Tokenosft’s user registration flow since 2017. This ensures that each user applying for an account is a real human.
The company also has a proven track record of removing suspicious and fraudulent accounts including KYC syndicates and duplicate accounts. Together with enhanced learning from Onfido, they will be able to identify when users are attempting to bypass security protocols to try and game the system. Tokensoft can also detect similarities in accounts and trends that help to identify and remove bad actors from the community.
Tokensoft is equipped to handle all levels of compliance including individual verifications as well as Proof of Address verification, entity verification, and accreditation services. Each level of compliance is already built into the user flow and can be programmatically required based on an issuer’s compliance needs.