Blockchain KYC (Know Your Customer) is a process that leverages blockchain technology to streamline and secure the collection of customer identification data. It enables organizations to verify users' identities without relying on traditional centralized systems, reducing the risk of data breaches and fraud. By using blockchain, KYC data can be stored in a decentralized and immutable ledger, making it easily accessible for authorized parties while maintaining privacy. Blockchain KYC offers more efficient and secure customer onboarding, reducing operational costs and compliance risks for financial institutions and businesses.
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