ID KABN: What is Our Vision and Where are we Now?
Anyone who has worked on or participated in an ICO is aware of the risks and potential bottlenecks posed by the KYC process. In many cases, it must be done manually by a participant submitting photos and other information and waiting to be whitelisted. The fact that ICOs take place in the context of a global economy of many overlapping jurisdictions with wildly varying, and often unclear, regulatory regimes further complicates this key requirement. An example of this is the delay of the Kodak coin launch due to the inability to process KYC requirements for the many investors attempting to participate.
Through our ID KABN software, Crypto KABN is committed to building a platform that solves these problems and delivers the KYC and whitelisting capabilities Blockchain 2.0 is going to need. It provides an easy-to-use biometric identity solution and third party whitelisted registries. ID KABN checks the information needed for a robust KYC process – age, citizenship, accredited status, etc -and cross references it then shares it with the relevant counter-parties. So, using ID KABN, an investor in ICOs can easily and securely share their KYC details with any number of projects, provided they are users of the platform. These business, in turn, can verify that the investor is, for example, a Canadian and accredited, and move forward with the investment. Throughout the process, ID KABN ensures that the investors sensitive information and funds are never at risk.
On May 10, ID KABN officially filed its patent for an invention of a one-time verification process for token offerings. The application was received and acknowledged by the U.S. Patent and Trademark Office. It comes ahead of Consensus 2018 taking place Monday through Wednesday of this week in New York City. Crypto KABN will be in attendance and we invite all guests to stop by and visit us at Booth 23 all three days of the event. CEO Ben Kessler and other members of the team will be happy to speak with you, answer questions, and tell you more about the new platform.
ID KABN is the first component of the larger Crypto KABN ecosystem. Ultimately, Crypto KABN is building a full-stack solution for crypto assets and crypto investments. This platform will offer users, investors, and entrepreneurs a secure, easy-to-use method of storing and transferring blockchain assets as well as verifying secure identities and remain compliant for which ever jurisdictions they operate. Our vision is to help build the Blockchain 2.0 landscape that will allow the technology to take its place alongside established, traditional technologies and financial instruments. We invite you to check out this blog regularly for additional products, team news, as well as general updates on us and the industry.
We hope to see you this week in New York!
