Utilize blockchain for Know Your Customer (KYC) verification to make external authentication mechanisms genuine and seamless in the digital-first world. With us, you can realize your KYC solution based on blockchain technology in a matter of weeks!
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The world is becoming increasingly digital, which has changed the way we perceive life. Processes that took an eternity to be fulfilled became instantly possible with digital infrastructure, and blockchains only boosted them further. Yet, are you thinking about why KYC verification still takes so long? Our blockchain-enabled KYC solution aims to quicken people verification for businesses using a comprehensive set of features that can strengthen bonds between businesses and customers. With a distributed digital ledger to store records safely, the Know Your Customer process now becomes easy for any business needing it badly. Connect with our professionals today to plan your blockchain-based KYC solution!
Blockchain for KYC is the revolutionary leap in the world of customer verification you would’ve wished for in a long time! It changes how we authenticate people against their public records to make a business platform free of malicious elements. It works in multiple ways since it can help businesses verify customer identity as well as governments issue digital identities to their population.
By using KYC solutions built using blockchain technology, you can make data verification and authentication more guaranteed with genuine records using immutable digital ledgers. With our excellence in using advanced technologies, you no longer need to worry about implementing user verification mechanisms using blockchain solutions!
With Blockchain for KYC, it becomes possible to eliminate various redundant processes that involve the end user. Efficiency becomes the foremost aspect to note, as only one verified customer entry is enough for any future processes. Blockchain technology makes it possible by storing information in a permissioned digital ledger that can be accessed only by the relevant business bodies to view and verify the information.
Frame your KYC blockchain solution with uniqueness through distinguished features that can elevate the genuineness of your business! Our developers can build a KYC solution that makes full use of blockchain technology to enhance the efficiency of user verification.
Utilize an OCR mechanism in the blockchain-enabled KYC system to read data from scanned physical documents for uploading in the online portal.
Create a blockchain-based address to locate, access, and share text-based user data on the blockchain, easing processes for various projects.
Provide a storage system address that holds image files uploaded by the user in a decentralized format, simplifying processes for businesses.
Implement digital signatures to increase the security of platforms like financial dApps where identity is necessary for undisrupted workflow.
Form systems to incentivize users to share their information with other financial businesses and institutions without leaving your platform.
Integrate a crypto wallet that enables people to pay for on-chain gas costs and receive incentives they could earn from sharing their data.
Securing your blockchain-based KYC solution is essential to make it sturdy and resist any malicious attacks that might result in data leaks. With our professional approach, you can boost your KYC mechanism’s safety through a variety of high-grade implementations.
Multi-factor Authentication (MFA)
Immutable Audit Trails
Data Encryption
Private/Public Key Cryptography
Permissioned Blockchains
Zero-knowledge Proof (ZKP)
Automated Compliance
Conditional Access
Using blockchain technology for the Know-Your-Customer (KYC) process has become an invaluable addition to the fintech industry, which faces unnecessary delays in executing processes that might otherwise take seconds. The workflow is straightforward, yet the differences are impactful, especially for the end-user.
A user creates a profile on a financial application (app #1) and uploads the necessary identity information requested for KYC approval. Data uploaded by the user will be stored in a public blockchain accessible by financial institutions.
When the user uses app #1, a copy of their data uploaded on the blockchain will be stored on the platform’s storage so that they can readily access it during transactions. This data will be approved and embedded in local storage as a hash.
When the user goes to another fintech platform (app #2), the identity information stored on the first application can be used for the KYC process. The hash stored by app #1 will be accessed by app #2, thus removing the need for repeated KYC.
Tap into our Whitelabel KYC blockchain solution to safeguard valuable user data while making it easy to access among financial institutions without a glitch. Benefits come in various sizes, resulting in a wide-ranging impact that will redefine how we see user verification in the financial sphere.
Enhanced Operational Efficiency
Decentralized Data Presence
Access to Real-time Data Updates
Data Transparency and Accuracy
Data Integrity Across Applications
Reduced Paperwork for Humans
Lesser KYC Processing Time
Planning to launch blockchain-based KYC software but having no inspiration for a headstart? Don’t worry! Explore the popular service providers and look at how you can perform better with a unique KYC solution based on blockchain technology.
KYC solutions based on blockchains are applicable across industries as more businesses emphasize the genuineness of users over other aspects to keep their platform even more secure. Safeguard your business from any industry with the best KYC blockchain solutions that tap into decentralized infrastructure for better storage and access to user data.
Crypto Exchanges
DeFi Applications
Telecommunications
Healthcare
Real Estate
Travel and Tourism
Supply Chain
Fintech
Insurance
Online Gaming
Searching for the best technology stack to build your KYC software based on blockchain technology? Look no further! Our prowess in a variety of technologies can make your blockchain-native KYC solution efficient, seamless, and safe.
Ethereum
Polygon
Solana
BNB Chain
Harmony
Solidity
Rust
Vyper
Python
BigchainDB
IPFS
Filecoin
Pinata
uPort
Civic
Sovrin
Truffle
Embark
Angular JS
React JS
Vue JS
Node JS
Express JS
Spring Boot
At Blockchain App Factory, we constantly look for ways to improve the efficiency of Web3 by getting inspired by existing solutions in the Web2 space. Our blockchain-enabled KYC solutions are a result of such search, with which we aim to enhance how user verification is done in Web3. If you plan to boost your Web3 business with KYC blockchain implementation, our team is the one to approach. With over a decade of experience in the blockchain world, we are equipped with everything you need to build a flawless KYC blockchain solution using advanced technologies. Connect with one of our experts now to discuss the possibilities of framing a customized KYC solution based on blockchain technology for your Web3 venture!
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