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In What Ways Can a Blockchain Be Used for Know Your Customer (KYC) Compliance?

Blockchain enables self-sovereign, reusable digital identities, streamlining KYC by allowing users to selectively share a single, verified identity with multiple institutions.
Greeks.Live08.11.25

In What Ways Can a Blockchain Be Used for Know Your Customer (KYC) Compliance?

Blockchain can streamline KYC by creating a self-sovereign digital identity for users, verified once by a trusted authority and then stored securely. Users can selectively share this verified identity with different financial institutions without repeating the entire verification process.

This reduces redundancy for users and compliance costs for institutions. Private blockchains are particularly suitable for this, ensuring data privacy and restricted access to identity information.

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