GoSecurity Tokenization Platform Adds Blockpass To Improve Its KYC Via Digital Identity
GoSecurity Tokenization Platform Integrates Blockpass To Improve Its KYC Via Digital Identity
The crypto industry is gradually integrating better KYC practices for their businesses. A few days ago, GoSecurity announced that it would integrate Blockpass to enhance its ecosystem KYC & AML procedures. The firm which deals with advisory in security tokenization made the move amidst plans to create safer crypto markets by regulators in the world today!
GoSecurity operations involve assisting crypto oriented entities to manage their project campaigns while providing a platform for the launch as well. The company’s operating niche in the crypto industry is quite significant as new entrants struggle with adhering to all the best practices. GoSecurity’s fundamentals are geared towards providing the best KYC & AML procedures.
Furthermore, this ecosystem is amongst the few that have an end-to-end compliance policy hence the initiative to integrate Blockpass. This move will not only improve the compliant nature of GoSecurity but also introduce verification for clients with only a single click.
Basically, Blockpass is meant to consolidate the activities within GoSecurity’s ecosystem into one using a digital identity. Users will have more control on management of their ecosystem operations; this ranges from data creation to storage & management. In addition, the onboarding process embedded in the Blockpass infrastructure ensures that each person’s digital identity is constant in all of their ecosystem activities.
The integration of Blockpass will reduce the costs incurred by GoSecurity for onboarding purposes while giving clients an opportunity to use their simple & premium services. Claus Skaaning, GoSecurity’s CEO, is quite optimistic about this milestone;
“To fulfill the vision of more efficient and less expensive fundraising in the future by utilizing the blockchain to represent digital securities, we have decided to integrate the KYC functionalities of Blockpass into our solution. We believe that Blockpass offers a best-of-class solution in this field such that our clients can enjoy a fully compliant verification of their investors.”
Blockpass on the other hand is also making moves to secure its niche in the upcoming digital identity development arena. The firm has worked with a couple players in the crypto niche with Edinburgh Napier University being the most notable so far. These two have collaborated to fund five scholarships under the supervision of Prof. Bill Buchanan. Ideally, the initiative should create an environment for further development of the Blockpass identity design in order to enrich the privacy practices.
Adam Vaziri who’s the CEO of Blockpass has expressed enthusiasm following the collaboration with GoSecurity;
“Security Tokens are at the forefront of discussion in the cryptocurrency and blockchain community at the moment, and it’s fantastic to be able to partner with an organization that has the same passion for seamless compliance that we do. By integrating Blockpass’ KYC Connect Solution into the GoSecurity Security Token Platform, we are able to be at the cutting edge of everything this technology has to offer.”
Blockpass Operations In Detail
The Blockpass IDN idea is designed to achieve a global identification of everything whose data is internet compatible. The firm leverages smart contracts tech & blockchain infrastructure to achieve this goal. Its Regtech approach is particularly important for the new crypto market products especially with the uncertainty in regulations up to date. Blockpass will ensure that both objects and human beings obtain digital identities that are KYC & AML oriented in order to facilitate new apps relying on these procedures. The business is Hong Kong registered and co-owned by Chain of Things & Infinity Blockchain Labs.
The firm is Security Token oriented; its main purpose is to enable tokenization of digital assets while ensuring compliance. GoSecurity’s target market is European based and they enjoy most of the white label software solutions provided for STO’s. Furthermore, the company is involved in the knowledge dissemination of the legalities that bound digital assets and the likes. Some of its partnerships in the pursuit this objective include top legal consultants based in Europe. At the moment, plans are underway by GoSecurity to host an event in Nordics; this will mostly target financial market players, legal advisors & regulators.