Blockchain-based, 100% automated KYC (Know Your Customer) service

Información del proyecto

BlockchainKYC

Identificador del acuerdo de subvención: 774802

DOI

10.3030/774802

Proyecto cerrado

Fecha de la firma de la CE 19 Junio 2017

Fecha de inicio 1 Julio 2017

Fecha de finalización 30 Noviembre 2017

Financiado con arreglo a

• Secure societies - Protecting freedom and security of Europe and its citizens

Coste total

€ 71 429,00

Aportación de la UE

€ 50 000,00

Coordinado por

AUTHENTEQ EHF
Iceland

Periodic Reporting for period 1 - BlockchainKYC (Blockchain-based, 100% automated KYC (Know Your Customer) service)

Período documentado: 2017-07-01 hasta 2017-11-30

Resumen del contexto y de los objetivos generales del proyecto

Use of Internet based services provide huge benefits to the economy making all communication and commerce more efficient and effective but it is now facing great threats in the form of identity fraud fed by international data breaches.
Identity theft and fraud have been around for a long time, but its impact and magnitude continues to rise every year. Furthermore, the growing number and severity of breaches damage customer confidence in online services and e-commerce.
Authenteq has developed a smartphone-based 100% automated and tamper-proof online identity verification service, Authenteq ID, which uses multifactor biometric authentication, to meet the needs of all web based services that benefit from secure ID verification. The Authenteq ideology is based on the premise that the user should be in full control of his identity – in line with what has been proposed as a self-sovereign identity. This premise is fulfilled by utilizing the highest level of cryptographic and blockchain technologies. Authenteq’s distinctive approach to data ownership, backed by the highest level of assurance provided by government-issued documents, holds the potential to revolutionize the identity proofing industry, especially in online environments.

Trabajo realizado desde el comienzo del proyecto hasta el final del período abarcado por el informe y los principales resultados hasta la fecha

During the feasibility study of Phase 1 we gathered tremendous amount information and uncovered invaluable knowledge and understanding some of which are the following:
We found that the market is even larger than first expected and the need for a highly secure and individualised identity proofing and verification is enormous.
We have identified all our main assets and strongly reinforced our IPR position
Working with our Pilot study partner, we gathered vital information about the procedures of integrating and operating our solution in a real live environment as well as gaining the end user experience.
The market analysis gave us tools to sharpen our approach and focus on market sectors where we have identified the strongest need and willingness to cooperate based on obvious mutual benefits.

Avances que van más allá del estado de la técnica e impacto potencial esperado (incluida la repercusión socioeconómica y las implicaciones sociales más amplias del proyecto hasta la fecha)

Going through all the intense tasks in the Phase 1 Feasibility study we are now well equipped with the knowledge to develop a realistic business plan and clear vision for effective go-to-market roadmap.
We have attracted the interest of 3 companies in different markets who are willing to participate with Authenteq during Phase 2. This will give us the opportunity to fine tune our technology in real life situation as well as sharpen our business model.

Authenteq app