Hong Kong, Jan 18, 2021 /AlexaBlockchain/ – Blockpass today announced integration with Matic – the scaling solution for public blockchains. The integration will enable Matic for fast, efficient and effective KYC services. The two companies signed an MoU before Christmas for this integration.
Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users.
Matic is a Hybrid Plasma/Proof of Stake side chain which uses an adapted version of the Plasma framework, providing a solution for fast and low-cost transactions. Horizontally scalable, the network currently uses one side chain, with more able to be added when or if they are required. Matic is completely EVM compatible, providing users with the same options they would find or use on the Ethereum Mainnet.
Adam Vaziri, CEO of Blockpass, said:
“Ever since the beginning of blockchain technology, scalability has been an issue on everyone’s radar. Not only does Matic provide a solution through its Plasma framework-based sidechains, but it also does so with fast, low-cost transactions which make it affordable to anyone. Blockpass is uniquely positioned to provide KYC for the speed and scale of their operations thanks to our reusable-KYC model. We look forward to bringing the benefits of blockchain technology and smart contracts to a huge audience at negligible cost.”
Sandeep Nailwal, Co-founder and COO of Matic Network, said:
“KYC and AML are highly important tools that will bring further legitimacy to the burgeoning crypto industry. The way Blockpass reduces traditional KYC costs is impressive, and their recent on-chain KYC is definitely groundbreaking.”
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and companies it has partnered with, and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. Blockpass has seen rapidly increasing numbers of users in the past year as its identity verification solution is used for ICOs, STOs and IEOs, including supporting a number of successful fundraisers in the past few months. This recent integration with Matic is already leading to conversations with other companies and businesses around the topic of KYC provision. Matic is also a member of the Chainlink ecosystem of blockchains, and Chainlink is supporting Blockpass with the infrastructure on Matic. The Blockpass App is available from the App Store and Google Play.