Blockchain Enabled KYC Solution
A Secure And Easy Solution To Digitize The KYC Paradigm.
KYC Blockchain Solution
According to Article 6 of the Universal Declaration of Human Rights, “Everyone has the right to recognition everywhere as a person before the law.” However, around one-fifth of the world’s population (1.8 billion people) lives without a legal identity. This excludes them from modern society and deprives them of access to healthcare, education, shelter, justice, and other government services.
The existing KYC systems are inefficient; they involve a costly, drawn-out practice where specific documents are shown and some background check or verification takes place. According to research by a leading corporate brand, Thomson Reuters, it takes 32 days to complete KYC checks. Furthermore, large financial institutions are routinely spending between $900 million and $1.3 billion per year on compliance-related ventures. This is because we do not have a digital identity. Another drawback of the inexistence of a digital identity is identity theft. Millions of people become victims of identity theft each year; last year the number was 15.4 million.
These alarming figures indicate the need for digital identity to modernize identity management. We believe that blockchain can transform the KYC paradigm, making it better and accessible to all. Thus, we have harnessed the potential of blockchain to develop blockchain enabled KYC solution that simplifies creating, monitoring and maintaining digital identities, making them more efficient, user-friendly, secure and less vulnerable to fraud. Available as a white label solution, it can be easily customized as per your business needs and launched under your brand name. Leverage our turnkey KYC solution to drive game-changing RegTech innovation.
Enhance Security and Efficiency. Implement Blockchain KYC Now!
Features of our KYC Blockchain Solution
Our turnkey KYC solution is reinforced with industry-leading features to streamline the KYC process and manage the entire user lifecycle.
OCR (Optical Character Recognition)
The OCR converts scanned paper documents (driving license, voter ID, passport, or any other ID proof) uploaded by users into machine-readable text which is then recorded on the blockchain, creating a digital identity of a user.
Ethereum-Based Address
Any text information related to a user is stored on the Ethereum blockchain. The Ethereum address serves as a unique user identifier and makes it easy to locate, access and share user data.
IPFS Address
The IPFS (InterPlanetary File System) address stores image files uploaded by users. An innovative peer-to-peer file-sharing system, it accelerates and simplifies the process to share user information across the globe.
Digital Signatures
Multiple unique digital signatures enhance the security paradigm of the platform, allowing the exchange of user data only when the request for information is approved by authorized signers (a user and platform owner).
Get Incentivized
Share the verified information of your users across financial institutions and companies seeking the same and get incentivized in turn. Every share brings you and your users an opportunity to earn huge incentives.
Wallet Integration
The multi-cryptocurrency hot wallet allows secure storage and smooth transactions for gas fees payments and incentive distribution.
Secure your business and simplify KYC processes with our blockchain solutions. Start transforming your verification today!
Blockchain KYC Use-Cases
Cryptocurrency Exchanges
Lending Platforms
Telecom
Finance
Healthcare
Real Estate
Goverment
Travel and Transportation
Insurance
