Authors :
Dr. P. Visalakshi; Shourya Rawat; Prateek sen
Volume/Issue :
Volume 8 - 2023, Issue 7 - July
Google Scholar :
https://bit.ly/3TmGbDi
Scribd :
https://tinyurl.com/bde3k8s5
DOI :
https://doi.org/10.5281/zenodo.8210508
Abstract :
In our country, we have a centralized financial
system. Customers must now update their information as
part of the KYC, commonly known as document
verification process. This procedure is used by many
businesses and financial institutions to save data for
purposes like employee and user validation. The issue
with this procedure is that each time a person enters a new
institution, he must go through document verification.
Even at banks, he needs document verification for a
variety of transactions. If he transacts, a number of steps
and middlemen are involved. In order to do away with the
middlemen and costs related to continuous document
verification, we advise consumers to perform one-time
document verification. Eventually, users will have access
to this information whenever they want, wherever they
are, for a variety of reasons, and in different places. The
most cutting-edge technology in the world—Blockchain—
will be used by our system for this, giving us a distributed
environment, user transparency, and no outside
interference—all of which increase system security.
Keywords :
KYC, Blockchain.
In our country, we have a centralized financial
system. Customers must now update their information as
part of the KYC, commonly known as document
verification process. This procedure is used by many
businesses and financial institutions to save data for
purposes like employee and user validation. The issue
with this procedure is that each time a person enters a new
institution, he must go through document verification.
Even at banks, he needs document verification for a
variety of transactions. If he transacts, a number of steps
and middlemen are involved. In order to do away with the
middlemen and costs related to continuous document
verification, we advise consumers to perform one-time
document verification. Eventually, users will have access
to this information whenever they want, wherever they
are, for a variety of reasons, and in different places. The
most cutting-edge technology in the world—Blockchain—
will be used by our system for this, giving us a distributed
environment, user transparency, and no outside
interference—all of which increase system security.
Keywords :
KYC, Blockchain.
