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Easy KYC for Waves with Blockpass

Waves | 05.07| 394

The partnership will provide straightforward and transparent tools for businesses to add KYC support to their Waves services and applications.

Waves has partnered with KYC provider and identity management system Blockpass to bring KYC Connect to the Waves Platform.

As developers continue to build out new services and applications, KYC functionality is vital to ensure safe, compliant adoption. However, it can be difficult and expensive for smaller, independent developers to secure the functionality they need. Blockpass solves this problem with low-cost, off-the-peg tools that anyone can plug into their software — leveraging the blockchain and tokenisation to do so.

Waves founder and CEO Sasha Ivanov comments, ‘Waves team keeps developing our platform while focusing on the features and instruments requested by the community and required for the smooth and effective development of decentralised applications. As KYC, KYD and KYO are essential parts of decentralised solutions for the regulated industries that are required for any application aiming for mass adoption, we are now partnering with Blockpass and integrating its KYC Connect, one of the leading solutions to provide shared regulatory compliance services.’

Putting the user in control with tokenised identity

While most KYC services involve users giving away their personal data — with potential consequences for privacy should that information be hacked or compromised — Blockpass takes a different approach in ensuring the user stays in control of their personal information. Using the Blockpass application, which is available for both Android and iOS, users can create, store and manage a data-secure digital identity. This can be used for an entire ecosystem of services or token purchases.

As soon as technical integration of Blockpass KYC Connect with Waves is complete, a special PASS token will be airdropped to all Waves users. Users can then verify their identity by downloading the Blockpass mobile application, submitting the required documentation and receiving the relevant certificates. After verification, users can submit this information to the Waves PASS whitelisting service by scanning the QR code on the Waves website.

‘This is a world-first partnership for Blockpass and implementing our KYC-forward token on a platform like Waves means that we can offer a much broader service within the realm of securitised asset trading,’ explains Blockpass CEO Adam Vaziri. ‘Waves is a pioneering platform for Web 3.0, and identity will without a doubt be the pillar that supports the growth of decentralisation.’

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Easy KYC for Waves with Blockpass was originally published in Waves Platform on Medium, where people are continuing the conversation by highlighting and responding to this story.

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