Blockchain-powered trust protocol, Persona recently announced the launch of its Beta, a KYC verification platform. Securing of KYC (know your customer) data from hackers and the unauthorized persons is a headache for people, companies and Crypto users. People upload their KYC documents containing personal and confidential information on several sites for different reasons such as on banking sites, job portals, and blockchain platforms for making transactions using cryptocurrencies.
There is always a fear of leakage and theft of these documents for unethical practices. Persona’s Beta platform allows users to upload their precious KYC documents and instead of a central third party the protocol itself gives protection to these documents against theft or hackers.
It is a blockchain based system that has simplified the way in which people manage identity and regulates it with the latest data protection tools. Persona provides quick and easy access to KYC documents while providing personal privacy and security by applying a few easy steps.
Upload Documents: You can upload your important and confidential documents to the persona system which stores the information in an encrypted format with your password or personal key.
Collect Validations: Persona assigns individuals as notaries who check your documents with your permission and verify your identity. Individual notaries can earn Persona coins against each completed validation.
Earn Trust Points: Now users can earn trust points for every validation. To open different types of account you need to acquire different trust level such as a credit card may require 20 trust points and a gym membership needs five trust points.
Open Accounts: Persona’s beta version allows opening an account with complete privacy as the service providers are required to check your trust level but not necessarily your documents. The system facilitates individuals to maintain their accounts with several services without any fear of data hacking as their data are stored in an encrypted form with a personal key.
Persona beta testing keeps a close watch on security, fees, and transaction volume and reproduces tens of thousands of simultaneous identity verification and keeps a record of trust point credited and debited.
Disclaimer: The above information is for information purposes only and does not constitute financial or investment advice in any shape or form.
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