Belrium is one of the efficient Know Your Customer (KYC)-compliant blockchains in operation. It addresses the challenges of the evolving regulations related to KYC compliance that make KYC-based systems complex with longer periods for customer onboarding.

Scope of Work

Ever-increasing KYC compliance regulations pose challenges not only for institutions involved in KYC based processes but also for their customers. Indeed, as per a survey, approx. 70 percent of institutions believe that all or most of their clients report material changes in KYC status like beneficial ownership change. For that, the client wanted to address the following challenges with Belrium:

 

  • Inefficient data management 
  • Data duplication and cumbersome process
  • Increased cost
  • Time-consuming customer onboarding

Our Solution

On average, each KYC process requires 10 documents. The same 10 documents are printed again and again for KYC to maintain the relationship. We developed Belrium, a KYC-based Blockchain, that significantly reduces the time with CKVS (Central KYC verification system). Any agency can use the KYC information for their use while significantly reducing the customer onboarding time. It is equipped with, 

 

  • KYC-Compliance Public Blockchain based on DPOS algorithm
  • DPOS smart contracts to facilitate on-line contractual agreements in a cryptographically secure manner
  • A KYC -APP, which is a central enabler app to communicate with a permissioned Hyperledger-based verifier platform and public blockchain to help private entities verify the documents securely
  •  Functionalities like multiple verifier approval, merchant integration, intuitive dashboard, and chart and graphs for data 

View all Projects
Request for Proposal

Name is required

Comment is required

Sending message..