Blockpass To Integrate Its KYC Solution Into The Waves Blockchain Platform
Blockpass To Integrate Its KYC Solution Into The Waves Platform
Waves has announced a partnership with Blockpass to bring KYC compliance to the Waves Platform. Blockpass is a firm that offers KYC and identity management solutions for clients in the blockchain industry.
KYC compliance is to ensuring safety on blockchain-driven platforms. The problem, however, is the expensiveness of KYC procedures, which makes it difficult for smaller projects to adopt. Blockpass uses blockchain technology to develop an affordable and off-the-chain solution that seamlessly integrates with clients’ software.
Sasha Ivanov, the CEO, and founder of Waves said that the company is constantly improving its platform while adding the features requested by users to simplify the development of decentralized apps. She added that KYC compliance is one of the key drivers behind the mass adoption of any blockchain project, which is why they are partnering with Blockpass.
The majority of existing KYC procedures require users to provide their personal data. Such information can potentially get in the hands of hackers. Blockpass, on the other hand, uses a unique approach that gives the user control over their data. The Blockpass mobile app allows users to create and manage a score digital identity. The identity can be used across all ecosystem that works in partnership with Blockpass.
After the successful integration of the Blockpass KYC solution into the Waves platform, every Waves user will get an airdrop containing a special PASS token. The next step will involve downloading the Blockpass mobile app and using it to create the aforementioned digital profiles. The final step will require verified users to scan the QR code on the Waves website to get listed on the platform’s whitelist.
Adam Vaziri, the CEO of Blockpass, said that it was the first time that his company is partnering an institution such as Waves. He lauded the Waves platform for embracing Web 3.0 technologies and added that secure identification procedures will improve decentralization.