Eliminate Repetitive Kyc Processes by Leveraging Blockchain and Ai for Efficient, Secure Identity Verification and Certificate Authentication.
Nigeria
Location
10
Team size
Fintech
Industry
About The Company
Project KYC is a pioneering startup dedicated to revolutionizing online authentication. Our KYC verification platform harnesses the power of blockchain technology to ensure unparalleled accuracy while significantly reducing document redundancy. We identified the need to boost precision and eliminate document duplications within our platform, which we successfully achieved through the implementation of cutting-edge machine learning models, advanced hashing techniques, and artificial intelligence.
Tech-Stack to Elevate Your Enterprise
We help enterprises recognize how blockchain platforms can be a perfect fit to reconcile the potential of their business model
Ethereum
A decentralized public platform that runs dApps
Hyperledger
An umbrella project of open-source blockchains to build enterprise-grade
Polygon
Polygon ecosystem is pioneering the future of sending, programming, and receiving value.
Binance
The fusion of digital tech and finance in a blockchain ecosystem and asset exchange.
Solana
Blockchain platform which uses a proof-of-stake mechanism.
Stellar
A decentralized public blockchain empowering developers to create cash-like experiences, not just crypto.
Corda
Corda is an open source blockchain platform for businesses
Ripple
Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP.
The Problem Statement
Project KYC is an online document verification platform that offers high accuracy and minimizes document duplication. Thus, it saves the user from uploading the same documents for verification over and over again.
To allow the users to verify documents online, Project KYC required AI model training, hashing, and machine learning. It aspires to be the best business platform for helping banks, financial institutions, businesses and other organizations authenticate user identity quickly and efficiently.
The online authentication solution also ensures high security, resiliency and scalability by leveraging decentralization, achieved by leveraging blockchain technology.
The Challenge
Project KYC wants to ensure that it offers a highly accurate and fast platform that minimizes document duplication for online authentication.
To help the project achieve its objective, we developed an AI model that offers 90% accuracy in taking a live selfie to verify documents. Comparatively, most third-party solutions can deliver an accuracy of up to 75%.
Another important challenge with Project KYC was to prevent uploading duplicate or fake documents, which we did by implementing hashing and blockchain.
The hash of the document is saved on the blockchain network. Doing so facilitates verifying a certificate by fetching the respective hash of the document from the blockchain database.
The Solution
A certificate is generated after a successful live selfie to document the authentication process. The document has the details pertaining to the recipient and the KYC certification company.
We ensured that the hash generated is saved on the blockchain. When a document is scanned by an organization, the generated hash is matched with hashes stored on the blockchain database.
If the hash is present on the blockchain, then the user is successfully authenticated and a notification or message is generated and sent to the organization.
Our Blockchain Development Process
Based on our experience of building several platforms for clouds, applications, and blockchain firms in Dubai, we have tailored our approach to match the ongoing blockchain industry advances.
01
Consultation
We assist our clients in analyzing the possibilities of blockchain for their business. Market research, project feasibility studies, blockchain platform & tool analysis, and feature prioritization are some of the things we go for.
02
Designing
We produce high-quality designs while ensuring a pleasant user experience. The platform's system blueprint, which comprises technical component specifications, user stories, and database architecture, is included in the technical design.
03
Development
To assist clients minimize time to market and boosting ROI, our blockchain developers provide enterprise-grade solutions right from concept through design and development for a seamless user experience.
04
Deployment
Gain access to the platform at the appropriate stage and at the appropriate time. Our blockchain development team creates and deploys permissioned and public Blockchains on-premise or in the cloud.
05
Maintenance
We monitor new OS versions, third-party updates, and new releases and give assistance as needed. Our blockchain developers are available to help with the settlement of any major challenges.
06
Migrate and Upgrade
We can help you migrate your existing solution to the Blockchain. We make sure to create testing, migration, and update roadmap while keeping the business process running and avoiding downtime.
Consultation
Designing
Development
Deployment
Maintenance
Migrate and Upgrade
The Result
We leveraged artificial intelligence and hashing to help the Project KYC team increase their accuracy in the authentication process and also to prevent duplication of documents on their online document verification platform.
Blocktunix took the entire ownership of the product to manage the blockchain implementation and use tools to generate hashes. With our skilled blockchain professionals, Project KYC was able to significantly enhance its online authentication platform.
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