The start of the new year proves to be auspicious for Blockpass and Matic as the two companies reveal Blockpass’ integration with Matic – the scaling solution for public blockchains. Providing fast, efficient and effective KYC services for Matic is the latest example of Blockpass’ pioneering of on-chain KYC. Signing an MoU before Christmas, the companies are hard at work to provide this new opportunity for the Matic Blockchain as soon as possible.
Matic is a Hybrid Plasma/Proof of Stake side chain which uses an adapted version of the Plasma framework, providing a solution for fast and low-cost transactions. Horizontally scalable, the network currently uses one side chain, with more able to be added when or if they are required. Matic is completely EVM compatible, providing users with the same options they would find or use on the Ethereum Mainnet.
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.
“Ever since the beginning of blockchain technology, scalability has been an issue on everyone’s radar,” said Adam Vaziri, CEO of Blockpass. “Not only does Matic provide a solution through its Plasma framework-based sidechains, but it also does so with fast, low-cost transactions which make it affordable to anyone. Blockpass is uniquely positioned to provide KYC for the speed and scale of their operations thanks to our reusable-KYC model. We look forward to bringing the benefits of blockchain technology and smart contracts to a huge audience at negligible cost.”
Sandeep Nailwal, Co-founder and COO of Matic Network said of the partnership, “KYC and AML are highly important tools that will bring further legitimacy to the burgeoning crypto industry. The way Blockpass reduces traditional KYC costs is impressive, and their recent on-chain KYC is definitely groundbreaking.”
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and companies 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. Blockpass has seen rapidly increasing numbers of users in the past year as its identity verification solution is used for ICOs, STOs and IEOs, including supporting a number of successful fundraisers in the past few months. This recent integration with Matic is already leading to conversations with other companies and businesses around the topic of KYC provision. Matic is also a member of the Chainlink ecosystem of blockchains, and Chainlink is supporting Blockpass with the infrastructure on Matic.
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 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 solution that will service many blockchains in the years to come.
About Matic Network
Matic is a developer-first hybrid POS+Plasma sidechain on top of Ethereum, enabling Ethereum developers to scale their DApps for large scale usage. Matic is rapidly becoming the go-to Layer 2 Solution for developers, thanks to secure, scalable and instant transactions, secured by Ethereum. There are 70+ Dapps building on Matic, ranging from DeFi Protocols to thrilling games and prediction markets.
Deploy your existing Ethereum DApp in less than 15 minutes. Get started with our documentation: https://docs.matic.network/.