Verification

Picture this: you want to open a bank account, or use a crypto exchange, or start trading stocks. You’re asked to verify your identity, submit documents, wait days. Frustrating, right? That old way of kyc verification is changing fast. Thanks to advances in artificial intelligence and blockchain (plus a dose of big data), identity checks are getting safer, faster, and more respectful of privacy.

In this article we’ll explore how blockchain and AI are working together to reshape KYC, share real data and case studies, and see what it might mean for you or your business.

With the increasingly regulatory financial environment, it is essential to know and clarify Ultimate Beneficial Owner (UBO) of a business to observe and ensure compliance and minimize risks of fraud. With the growing sophistication of financial crimes, regulators around the world have given a significant focus on UBO compliance as one of the components of anti-money laundering (AML) frameworks. UBO identification is not a mere regulatory requirement, but also an effective risk management tool that helps companies to establish transparent business relations and protect themselves against illegal operations.

While all eyes are on how Elon Musk is handling the blue checkmark over at Twitter and debating the checkmark's value and devaluing, I submit the checkmark isn't just a Twitter problem but also a social media problem no matter what platform you're using. Over the past couple weeks, I've come to the conclusion that it is a huge mistake to confuse verification with designating someone as notable or not. The use of verification for only notable users, which in turns designates the remaining users as non-notable, is divisive and never should have happened. While I reluctantly have sided with Mr.