The CEO of Cheqd, Fraser Edward, explained how blockchain-based reusable KYC would become the “breakthrough” for security in Web3.
The rationale is that it would improve the user experience while also unlocking new use cases.
“Blockchain-based reusable KYC is particularly valuable in Web3”: word from Fraser Edward
In an interview with Bitcoin.com, Fraser Edward, CEO and co-founder of the public permissionless network Cheqd, spoke about blockchain-based reusable KYC, describing it as “particularly valuable in Web3.”
Specifically, Edward talked about how the mandatory process of identifying and verifying a customer’s identity when opening an account, KYC (or Know Your Customer), would become more efficient and reusable if it were blockchain-based.
In this regard, here are the exact words of Cheqd‘s CEO:
“By undergoing the KYC process once and obtaining re-usable credentials, users can utilize those credentials with different service providers multiple times. Impl
We współpracy z: https://en.cryptonomist.ch/2023/05/29/blockchain-based-reusable-kyc/
