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Blockchain Smart Contracts Driven KYC (Know-Your-Customer)

A big need for a B2B Market exchange is establishing the validity of the bulk buying customers. The customer authentication and buying capacity is intrinsic to mitigate the revenue impact on the sellers.

The current set of market exchanges have multitude of ailments when it comes to customer/buyer governance. The predominant cause of these issues can be attributed to the fact that an early whetting of prospective customers was not conducted thoroughly by these market exchanges. Hence, issues such as customers not abiding by the payment terms on time or outright defaulting on the payments al repeatedly occur. The impact here is borne directly by the sellers within the market exchange in addition to dilution of market exchange brand equity.

  • KYC.block resoundingly plugs this market exchange process gap.
  • KYC.block is an agile, configurable rules-based validation engine which enforces the execution of customer pre-authentication rules during the customer registration process.
  • KYC.block will capture pertinent documents/proofs from the prospective customers, as defined in the underling pre-authentication rule.
  • KYC.block authenticates the seller by running a series of pre-authentication rules against all of the uploaded customer information.
  • KYC.block rates the customer as "acidic" and "alkaline", based on the outcome of the executed customer pre-authentication rules.
  • Market exchanges can make governed customer approval decisions when empowered by KYC.block, hence securing the interests of seller revenues.