Enkidu Blockchain Business Platform & Civic Partner For KYC Services
Enkidu Implements Civic Technologies’ Reusable KYC Solution
Two blockchain-based platforms, Enkidu and Civic Technologies, recently announced a partnership that is expected to launch a new product by August 2018. Enkidu is the world’s pioneering universal collaboration platform. On the other hand, Civic Technologies is renowned for its revolutionary blockchain-driven digital identification mechanism. The two platforms will combine to develop an advanced KYC identity service that operates on the concept of a Limited Liability company. While it still in its developmental stages, interested parties can get an alpha prototype on the Enkidu website.
Currently, the process of creating a company on the Enkidu platform is lengthy and repetitive, especially the registration aspect. The new KYC identity services have the reuse capability, eliminating the need for recurrent importation and verification of a user's credentials. Fundamentally, the solution leverages distributed ledger technology as well as biometric sensing features to establish a trustless and secure platform. Notably, all these features are packaged within the Civic mobile application.
Speaking on this matter, Varun Mayya, the boss of Enkidu, waxed lyrical about Civic technologies. Varun said that Civic Technologies is the ideal strategic partner for the Enkidu platform, citing the reusability of its KYC solution. The COO of Enkidu, Shashank Udupa, further reiterated the opinion of his boss, adding that the new solution will ensure the smooth operability of Enkidu as well as provide a reliable security mechanism.
Vinny Lingham, an executive director at Civic Technologies, was also thrilled with the collaboration between the two firms. He particularly heaped praises upon Enkidu, saying that the platform is a leading entity in the advancement of several areas of blockchain technology, such as smart contracts. Lingham noted that KYC is an integral aspect for the adoption of the contacts, a factor that spurred the partnership. Moreover, the collaboration has mutual benefits for both parties, increasing the efficiency of Enkidu and expanding the coverage and reputation of Civic technologies.
Unquestionably, the development of the reusable KYC service will significantly simplify the process of company registration on the Enkidu platform. Also, the process will become more affordable since it reduces repetitiveness. The user’s private data is safeguarded by advanced encryption techniques and biometric identification features. Additionally, the user retains the rights to restrict the usage of such data by third-party applications.
A Background of Enkidu
As mentioned earlier, Enkidu is the world's first programmatic enterprise platform. Essentially, it facilitates the collaboration of people, transactions among team members and the passing of decisions by such groups. The platform enables users to find like-minded colleagues and establish a profitable venture at an affordable fee of 0.5% per transaction. Enkidu is run like an archetypal Limited Liability Company. In their recently concluded token crowdsale, the company managed to raise a respectable 1,300 ETH.
A Background of Civic Technologies
Civic Technologies is a leading provider of certain identity services. The service enables users to control the usage of their digital identities. The primary objectives of Civic are to avail a cheap, dependable and secure KYC identification service. In an ICO conducted last year, Civic massed a total of $33 million.