HONG KONG, Feb 16, 2021 – (ACN Newswire) – Blockpass, the pioneer of On-chain KYC(TM), is excited to announce the latest in a number of new partners for 2021: QTUM. Through this new partnership, QTUM and Blockpass will be working together to offer revolutionary On-chain KYC solutions to the QTUM ecosystem. In the spirit of blockchain technology, both Blockpass and QTUM will work in the most transparent way to support the space; this will include QTUM offering subsidies to specific members of the ecosystem looking to achieve regulatory compliance with On-chain KYC(TM) solutions.
Qtum is an open sourced, public blockchain platform, leveraging the security of unspent transaction outputs and combining that with EVM smart contracts. Qtum is secured by a Proof of Stake consensus algorithm and boasts a Decentralized Governance Protocol (DGP), allowing specific blockchain settings to be modified by making use of smart contracts, leading to potential options such as increasing the block size of Qtum without the need of a hard fork or innumerable other possibilities.
Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users.
“We’ve known and been fans of the QTUM team and network for a long time and it’s great to have the opportunity to work closely with them.” said Blockpass CEO Adam Vaziri. “The QTUM network is innovative and we’re excited to be able to bring the benefits and possibilities of On-chain KYC to developers and users alike. Bringing fast, simple and efficient regulatory compliance to QTUM creates more opportunities for everyone and spreads the phenomenon of On-chain KYC to an even wider audience.”
“On-chain KYC will become a critical component to numerous protocols on the decentralized web. Rather than hinder innovators who are seeking to stay compliant while enabling new technologies, the Qtum Foundation would like to support those builders by backing Blockpass’ expansion to the Qtum blockchain. Blockpass’ solution has exceeded our expectations when it came to cost, which is an order of magnitude cheaper than traditional services, and its ability to only allow non-sensitive pieces of information to touch the blockchain,” said Jordan Earls, co-founder of Qtum.
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with, and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations have led to a surge in interest for Blockpass’ On-chain KYC(TM) solution which promises to change the way blockchains enable compliance.
With a current 90%+ discount on its services, a fact made possible due to the unique reusable nature of its verification method, and put in place to help as many people as possible access KYC in the current pandemic, there has never been a better time to explore the potential of Blockpass. The Blockpass App is available from the App Store and Google Play.
Blockpass, the pioneer of On-chain KYC(TM), is a fast, fully comprehensive KYC & AML screening software-as-a-service for blockchains, Crypto, Defi and other regulated industries. With Blockpass, you get an unmatched set of benefits for any compliance service that includes pay-as-you-go, no setup cost, no integration necessary, free testing, immediate launch and at the lowest cost. Blockpass’ KYC Connect(TM) platform enables businesses to select requirements for customer onboarding that can include ID authentication, face-matching, address checking, AML ongoing monitoring and/or screening of sanctions lists, politically exposed persons (PEP), and adverse media. Through Blockpass, end-users easily create a verified portable identity that they can control and re-use to onboard with any service instantly. By integrating with Chainlink Network – a decentralized oracle solution – in early January, Blockpass introduced the first On-chain KYC(TM) solution that will service many blockchains in the years to come.
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Qtum is an open-sourced public blockchain platform, leveraging the security of UTXO while enabling multiple virtual machines including EVM and soon, Neutron. Qtum is PoS based and boasts a Decentralized Governance Protocol (DGP) allowing specific blockchain settings to be modified by making use of smart contracts. For instance, the block size of Qtum can be increased without the need of a hard fork. For more information, please visit: www.qtum.org