What is the basic idea behind the KYC VERIFY project?
In the USA this concept is called Know Your Customer, or KYC. Our product allows the identity of users to be established and documented, so that going forward they can register for any services that require such verification by providing only that information which is required for each individual service.
Our solution will help them to quickly and easily become verified users. We have created a product that makes it much easier to comply with client identification requirements. The product is made up of two parts: document verification through a mobile application, and verification of identity and documents with the help of a KYC VERIFY agent.
The entire process should take no more than 45 minutes, which is an all-time record on this market. We have a finished, functional application, which can already be downloaded and installed on both iOS and Android.
Which services did you have in mind when creating your application?
Which national markets are you targeting?
What will this look like from a technical standpoint? Will users need to go somewhere and show their documents?
Going forward, the GID checks this information against numerous databases, and the user receives the maximum level of verification and identification.
Won't access to the services of your agents be limited to the big cities?
Like an Uber driver, it is enough for the agent to have our application, through which orders will be placed. If clients who would like to use this service appear in a certain region, we find local people who are willing to act as our agents.
What kind of protections are in place? Could there not be a situation where a fake user confirms his or her identify with the help of a fake agent?
The card is issued by a bank, which performs some sort of check on its end. Potential agents also undergo a fairly in-depth verification process: utilities bills issued in their name and to their address, passport or other identification document, details of bank accounts that have been in existence for at least 45 days (this ensures another level of reliability, we do not want fly-by-night agents). We check those who will then check our clients.
A document identification system will be used to check the documents submitted during user verification, and we also perform an AML check and use various other internal and external services that allow us to verify the provided documents. During the second stage of document verification, we use agents who must confirm that the person exists and that the documents indeed belong to him or her. It is similar to the example of receiving a credit card from a bank.
The bank sends a courier who checks the recipient and his or her documents. Anyone, anywhere in the world, who meets our selection criteria can become an agent. The KYC VERIFY agent will receive a commission for each visit to a user. One might say that this is a sort of “uber KYC”.
Who is accountable if, despite everything, something suddenly goes wrong?
How did the idea for the project come about?
It turned out that the client identification solutions on the market were all too complex and difficult to use. There was simply no convenient solution. We were forced to think it up and create it. The application of crowdsourcing and external agents to the KYC concept makes it possible to ensure its simplicity and speed.
How long have you been involved in blockchain?
Is the KYC VERIFY business model more of a B2B (business to business) or B2C (business to consumer) model?
On the other hand, clients need diverse services that they can only access after they have completed the entire verification process. Now, with the help of our platform, this will be easy and convenient for everyone. And all the laws will be observed!
Is the KYC VERIFY business model more of a B2B (business to business) or B2C (business to consumer) model?
On the other hand, clients need diverse services that they can only access after they have completed the entire verification process. Now, with the help of our platform, this will be easy and convenient for everyone. And all the laws will be observed!
