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This ‘KYC Solution’ Will Link Ethereum Addresses to Identities

Bitcoin.com_Digital Identity

Whenever somebody talks about #KYC [ #KnowYourCustomer ] protocols, it is not hard to see a centralized service or institution collecting user data and storing it somewhere safely. That last part is a topic of substantial debate in recent times, however, as the number of databases breaches and data leaks keeps growing every year.

Decentralizing the KYC protocol will be one of the biggest challenges of the past few years. But now the #technology seems to be catching up. Accountability of all of the collected data is at the top of the priority list, and some #Ethereum enthusiasts over at #Oraclize (Oraclize.it) have come up with a concept that would actually link Ethereum wallet addresses to user identities.....

......Given the stance of the ECB on #EGovernance right now, the Oraclize project could spark a new debate to revamp KYC and AML regulation. Certifying user identities seems to be their top priority right now, and this solution could facilitate the process in the future. However, the general #BlockchainCommunity feels it is of the utmost importance to keep everything as #decentralized as possible.....

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