As a Requester, the ecosystem enables you to leverage the work already performed by trusted Validators, thus eliminating redundancy, lowering overhead, and increasing efficiency of identity verification.
Requesters trust the game theory application that drives Validator trust and reputation. All parties are incentivized to transact in correct validations and get rewarded for doing so via smart contracts.
Leverage reusable KYC attestations, including scanning, verification of documents such as passports and driver’s licenses, and accredited investor checks.
Requesters easily obtain proof that identity information has been authenticated by a trusted institution. Requesters in need of KYC receive only the necessary data to fulfill the request with user consent.
Requesters can provide a better user experience for customers by eliminating the hassle of usernames, passwords, and multi-factor authentication.
Working with a trusted Validator or leveraging existing attestations reduces costs and risks associated with legacy KYC solutions.
Requesters can use CVCs to leverage permission-based, real-time authentication of identity data by a trusted Validator.
When a User downloads a partner app such as the Civic app and establishes an account to validate personal data for reuse, a Validator authenticates and records an attestation. The User now possesses validated identity data on their device that can be reused or revoked at will.