Blockchain KYC (Know Your Customer) refers to the use of blockchain technology to streamline and secure the process of verifying customer identities. Blockchain allows for a decentralized, immutable record of KYC data, reducing the risk of fraud and enhancing privacy. This ensures that sensitive personal information is stored securely and is accessible only to authorized parties. Blockchain-based KYC solutions enable faster onboarding, reduce compliance costs, and improve data accuracy, providing a transparent and efficient way to manage identity verification in various sectors.
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