On Blockpass, users need only to go through one KYC verification process.
Blockpass provides users with a solution for self-sovereign identity while limiting hacking risks. Following recent data breach scandals, it is evident that centralization of personal user data should be avoided wherever possible.
Blockpass provides an alternative solution for centralized data storage that will have two major benefits to consumers:
1. Users are in control of their identity and only they can decide who accesses it
2. No centralized server stores sensitive personal data
When a user submits identity details and documents to Blockpass for verification, a copy is stored locally and encrypted with a password on the user’s mobile device. The user is the only person who holds the password to decrypt it.
After Blockpass receives the data and hashes it, it is completely erased from the Blockpass servers. From that point forward, user data only exists on the mobile phone of the user and nowhere else until he or she decides to share it with third-party service providers, e-merchants and financial services, giving the user complete control over their personal data.
As user’s data is destroyed once verified, if hackers manage to breach the Blockpass servers, they will find only unreadable data that has no value to them, whatsoever.