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

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.

Call for proposal

H2020-EIC-SMEInst-2018-2020

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Sub call

H2020-SMEInst-2018-2020-2

Coordinator

AUTHENTEQ EHF
Net EU contribution
€ 1 017 124,93
Address
Borgartun 27
105 Reykjavik
Iceland

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Region
Ísland Ísland Höfuðborgarsvæði
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Other funding
€ 435 910,68

Participants (1)

Third-party

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.

AUTHENTEQ TARBENA GMBH
Germany
Net EU contribution
€ 214 000,07
Address
Bernauer Strasse 49
10435 Berlin

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Berlin Berlin Berlin
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Other funding
€ 91 714,32