Persona is partnering with the P2P lending platform Fintrux to provide their Blockchain based identity solution to streamline the onboarding process for customers while ensuring they remain in full control over their personal details.
Persona will provide their Blockchain identity service to onboard customers onto Fintrux’s platform and complete their KYC. Unlike some other identity projects, Persona is developing on its own Blockchain instead of using an ERC 20 token on Ethereum Blockchain. Transaction data is processed by the Blockchain and IPFS is used for storage.
Once they enroll to Persona Blockchain Fintrux is able to update and verify the borrower’s identity. Persona won’t have any access to individuals personal details hence giving the individuals control over their own data. Persona will empower the users to have secure access to their personal data.
Individuals also have a web app plus dashboard to use and a mobile app which helps in data management.
As the user identity data is stored in a Blockchain away from companies to customers themselves, the corporations are automatically secured from extortions, thefts, and bugs that can hurt both from an image point of view, as well as being fined by authorities.
Conrad Lin, Co-Founder of Fintrux said in a Press Release:
“FintruX Network is actively exploring how Persona can be involved in our initial pilots based in Singapore and US, We are excited to see how Persona’s services will enable us to better respond to our customer’s needs by rapidly verifying the identity of borrowers on our platform.”
Ștefan Neagu, Co-Founder of Persona said:
“We’re looking forward to work with FintruX and provide their clients with the solution Persona creates for identity management, With Persona, individuals are claiming their identity back, validation and verification is performed by the same community who at any given moment can store or copy any of the personal details.”
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