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Empowering trust and security in the decentralized finance landscape with real-time identity verification
SAVANNAH, GEORGIA, UNITED STATES, February 2, 2023 /EINPresswire.com/ — ValidEntry, a provider of real-time identity verification and customer onboarding services, has launched its blockchain-based identity platform. The platform
it builds on existing KYC processes and enhances security while complying with state, federal and international laws.
The recent case against Bitzlato (1:23-mj-02068), a popular cryptocurrency exchange, highlights the importance of KYC in DeFi. The US Department of Justice issued an enforcement action and claims that the exchange failed to enforce proper KYC measures, leading to illegal activities on the platform. This serves as a reminder that DeFi platforms must take KYC regulations seriously and have robust procedures for client identity verification.
ValidEntry solutions protect businesses and investors from fraud and preserve digital integrity. The company verifies the identities of DeFi participants and ensures compliance with global regulations, which helps prevent “rug pulls” and secure investor funds.
ValidEntry balances the needs of KYC with user privacy through semi-autonomous control. The company uses government-issued documents and validation techniques to identify individuals and maintain their privacy. ValidEntry technology does not allow external access to user identification information.
“Our solution is crucial to creating a more secure and reliable DeFi ecosystem,” said Jonah Burglin, CEO of ValidEntry. “We are committed to user privacy and provide responsible and secure operations for DeFi platforms. Implementation of KYC with access control is an important aspect of responsible operation in DeFi and may become a legal requirement in the future.”
ValidEntry provides real-time identity verification and customer onboarding services using blockchain technology and government-issued documents. The company prioritizes user privacy while offering secure trading for DeFi platforms.
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