Project description
Facilitating KYC checks in online transactions
Online fraud and cybercrime are becoming a growing concern as more and more of our business and transactions are carried out online. However, especially in a post-pandemic reality, the transition of every economic activity into the online world appears to be a one-way street. To shield themselves from the use of hacked IDs, online businesses use global routines known as "know your customer" (KYC) checks. Aiming at improving the current slow, manual and costly processes in KYC checks, the EU-funded BlockchainKYC project is introducing a blockchain-based, 100 % automated identity proofing service with biometric user authentication. The innovative tool is ideal for online services that need a trusted ID for user enrolling or to validate high-risk transactions.
Fields of science
- natural sciencescomputer and information sciencescomputer securityaccess control
- natural sciencescomputer and information sciencescomputer securitymalicious software
- natural sciencescomputer and information sciencescomputer securitydata protection
- social sciencespolitical sciencespolitical transitionsterrorism
- social scienceseconomics and businessbusiness and managementcommercee-commerce
Programme(s)
Funding Scheme
SME-2 - SME instrument phase 2
Coordinator
105 Reykjavik
Iceland
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Participants (1)
Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.
10435 Berlin
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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.