KYC Verification Using Blockchain
Posted by Somendra Kumar on March 2nd, 2023
The simple procedure of employing validating criteria to confirm the identification of a customer, employee, vendor, or stakeholder is KYC. These elements could include facial traits, photo-based Identities, responses to randomly generated questions, etc., which is made simpler by blockchain KYC. The aforementioned elements must be checked in accordance with the guidelines established by regulatory authorities for a KYC verification procedure to be declared successful and valid. In a number of industries, including finance, banking, securities, insurance, and others, KYC verification is required. In other words, organizations like banks, insurers, investment companies, and NBFCs carry out tens of thousands of KYC verification transactions per day. KYC verification using blockchain is trending. Find more details on such cryptocurrency project ideas from Cryptoknowmics.
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About the AuthorSomendra Kumar
Joined: July 6th, 2022
Articles Posted: 333
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