Sick of waiting and getting all formalities done while opening a bank account or transferring crypto? Blockpass has come up with a perfect solution to such problems. The platform has offered comfort while dealing with hard and time taking processes. Blockpass focuses on three main factors including humans, objects and connected devices. If a customer has to join some company, KYC is the process which takes place first. A person has to go through this process every time he/she joins a new platform. Blockpass eliminates this painful process by using personal data of the user and store his/her KYC. It helps to reduce the time and cost for the user to be a member of the company. With a goal to construct a comprehensive awareness of identification for the “Internet of Everything”, CEO Adam Vaziri has created a self-sovereign identity protocol for the connected world.
Based on Blockchain network, Blockpass mechanism works with the help of its PASS token. These tokens help its users to posses discounts on the verification services provided by the network. Also known as KYC tokens, Blockpass chose ETH network for its token transactions. User has to go through a KYC check while transferring of tokens. Some of the ways to obtain the token include Airdrops, secondary markets and Distribution events which have been listed to occur every year for next two years. A billion tokens have been listed in total for supply. 40% of those have been allotted to Distribution events whereas 20% have been allotted to Founder allocations. The system works with an app known as Blockpass app. When personal info is submitted for identity verification, A cryptographic code is generated which represents the data. Blockpass audits and makes sure than information provided does not exist already on the systems. For skipping long procedures, platform provides the identity via QR code to the company user wants to register with.
Not just individuals, company has also focused on Businesses sector. Massive reduction in signing up frictions, expensive and duplicate ID verifications, increase in conversions and efficiency are some of the features coming up this year. Blockpass has loaded its plans all over 2018. Company has sorted its planning in three phases from April to end of the year. The main focus is on the app for the first and second phase. Developing of basic user interface with verification of workflow and external certification took place in first phase. Updating UI and introducing integrated messaging systems are parts of second phase. Consolidation of tools and white labeling services for mobile applications are to occur in the last months of the year. Focus on third party applications would be done alongside. One of the major issues while going through the process is fear of making the identity public. This is not the case while working with Blockpass. As the KYC is completed within the platform, Personal details of customer are scrapped. User has to grant permission before the platform reveals identity to merchants. Blockpass is a great initiative towards saving time of individuals and protecting companies from fake identifications. Taking Blockchain network in consideration, customer base would be developed rapidly with efficiency.
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Amazing analysis, thanks for sharing @pkalra
Thanks bro @bunnychum
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Thank you for this great read! Would you also be interested in reviewing World Wi-Fi project?
Hello @world.wi-fi Thank you for your interest! Please get in touch on telegram t.me/pkalra or share your contact details!
I like the idea! this could be very big and will be following this
Thank you for your attention! @lifenow
Sounds very interesting and promising.
Blockpass for the future :D
Yeah. Thats true!
Thank you for your attention! @joyrobinson
I want to join this community, how..
You are most welcome to Join @andesta
Wou! I think it's a great technological development, have they already made a mobile APP?
Hey @efren.arnaude They do have!!