Announcing a new & revised kyc process on the hurify digital markets platform

August 19, 2018

Issuers of cryptocurrency and tokens are required to collect customer information identity verification.  This is generally referred to as “KYC” which stands for “Know Your Customer”.

We believe this also applies to Hurify Digital Markets, as we may in some cases be facilitating payments of HUR tokens in exchange for IoT engineering and design, other application development services and purchase of hardware and other services.  Recently we adopted some new KYC procedures, and we are posting this information to explain how this might affect you.

Why we may need some more information about you?

Opening an account on the Hurify Digital Markets Platform (the “Platform”) doesn’t automatically mean you have completed KYC.  We allow nicknames, less than full address information, etc, so you can learn, browse and better determine if the engaging with the Hurify community and the Platform is for you.  But once you seek to engage in commerce on the Platform, we will ask you for more provable identity verification, such as a mailing address and correct email address.

This process assists us to ensure that we can get to know you and provide you with a great customer experience, especially when following up on orders and agreements where you may be providing development services, as well as ensuring that we fulfil our obligations in relation to KYC checks.

What are the checks you need to do? What information do we request?

We will need to ask you to provide some ID, such as a passport, driver’s license or other recognized government issued document and a secondary photograph to be used for verification of the ID.

However, in some cases we may need to ask for a bit more background information, which could include conversations around your account activity. In some instances, we may ask for documentation to support what has been discussed.  This is usually only required when export documentation is required to complete a product purchase transaction on our marketplace.

How will this information be used?

The information and documentation you provide to us is used for our own internal purposes and your data will be handled in complete confidence in line with our Privacy Policy, which you can find here .

What if I don’t give you the information/documentation?

If you can’t provide us with the required information or documentation, we may take steps to restrict your account until we are able to obtain this. Unfortunately, further business may not be accepted if the requested information is not provided.

What can you do to help with this process?

Making sure your contact details are kept up to date assists us greatly in this process.  Follow our instructions regarding photo images to assure a smooth approval process.

How can you contact us if you have further questions?

If you have any questions regarding this process, please use the “Contact Us” options available on our website.