Alliance Block's Trustless Identity Verification (TIDV) addresses the issue of trustless distribution of authenticated data. - defi digitalidentity
. Be it through direct compensation, media partnerships, or networking. The author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOROne group of users establishes their digital identity without losing their privacy to make this reality. The second group of users is required to review participants with confidence in the accuracy of the data and to assist prevent legal snares.
TIDV will be integrated across AllianceBlock's end-to-end infrastructure, including the DeFi Terminal, DEX, and Data Tunnel. The ability to undertake KYC once and apply the same verification across numerous solutions makes it easier for users to participate and engage compliantly across these different solutions. It also reduces the number of submissions users will have to make.
TIDV simplifies the KYC procedure for users, as they only need to connect their cryptocurrency wallet once and verify their identification with AllianceBlock's identity verification partner GBG. After the KYC procedure is finished, the TIDV's hashed record will be stored and used to verify the user's identity on all integrated services. This record is only accessible by the recipient of the encrypted data. The entire platform is powered by smart contracts and no verified data is saved or exchanged but is committed to the local storage of the user's browser. Users will have complete control of their data and permissions and can withdraw access to them anytime.
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