Wether you are doing an ICO, selling tokens or building an exchange, it's likely that you must meet regulatory requirements such as KYC (Know Your Customer) and AML (Anti Money Laundering).

Myself and my team have been working on a smooth solution to this problem. By utilizing the infrastructure behind modern passports, users can simply tap their passport to their phone, and their personal data is instantly delivered and verified. Similar to how you would tap a card to pay.

This is made possible by communicating with the secure chip embedded inside the passport using the phone's NFC capabilities. All passports are digitally signed by their respective issuing country which guarantees that the data is always correct and that the document is not fraudulent, cloned or tampered with. A document and its data can be verified instantly by verifying the public key that was used to sign the document. The personal data on the chip includes document number, full name, date of birth, nationality and personal number (if applicable), which is enough to meet the regulatory requirements in most jurisdictions. All in all this allows for a very secure and smooth user experience.

This can be compared with what is currently the standard solution on the market, where you take a picture of your passport or driver's license, and also a picture of yourself, then that is sent somewhere for manual review which can take hours. If you have opened e.g. a Coinbase or Binance account I think you know what I mean.

Our product comes as an SDK for iOS and Android (if your business is app based), but we can also offer a solution for web.

The business model is pay as you go (per verified document), everything is fully cloud based and managed through our self-service portal.

We are just rolling out the service, talk to me if you are interested or have questions! Website: https://business.passportreader.app

robertarnesson

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