In this time of digitalization where people accumulate large amounts of information about themselves, personal data, commercial documents, certificates of various kinds, contracts, agreements and so on, when we store all this important data on paper, there is possibility of a rapid wear and tear of documents and also a possibility of the documents being tampered with which may results to negative consequence. A typical example is the forgery of diplomas to obtain desired job role.
In this age of modern technology, any seal or signature can be forged, and since there is no worthy alternate, the paper still have to be trusted. In a highly competitive market the ability to quickly verify the identity of customers and partners is very important but attracting new customers, along with the need to control the risk of fraud and maintain a stable level of operational efficiency is very difficult which is why the ENDO block chain has come to developed a document verification system that will not pass a fake passport or document from the internet.
What is ENDO?
ENDO is an encrypted block chain tool that can use several of the most proven data sources allowing you to quickly verify the identity of any account owner even on the basis of minimal information. In a logical sense, it distinguishes the original from a counterfeit thus making it possible to check the authenticity of almost any kind of information.
Aims of ENDO
To be able to distinguish original and a counterfeit is one of the basic reason of establishing the protocol and as such they reduce the likelihood of counterfeiting data and also the simplicity to the access of data.
They also aim to be able to monetize user’s data and ability to control access to the user’s own data so as to be able to influence the preservation/deletion of user’s own data from companies or organization. It is also the aim of ENDO to create a standard ontology for different types of data for typing and simplifying the exchange. Creating a flexible and convenient control of data exchange so as to be a decentralized model of data access is what ENDO also aim to achieved.
Features of ENDO
ENDO private Block chain: This feature is implemented to perform narrow tasks within one or several companies and will act as a private broker, regulator of access rights, a verifier and an information transfer controller.
ENDO core: This feature performs functions that do not require a high level of trust and can be executed centrally. Since it is an open source desktop application, its task includes;
Receiving files from the repository
Working and recording with databases
Providing an API for integrations
Scheme of interaction with other applications and so on.
ENDO KYC: This allows the user to provide data about their identity to different agents from the ENDO KYC interface using the “Login through ENDO” function. The procedure is necessary for a large number of activities; registration, deposit, trade and withdrawal, investment etc.
ENDO WORKFLOW: This feature is an application platform for back to back processes. Since each business is unique, ENDO workflow allows you to implement any options for checking, storing, sharing and exchanging electronic documents. To increase the degree of decentralization in ENDO workflow, a multi signature mechanism is implemented before publishing information on the block chain.
Conclusion:
In the body of this article, we learnt that ENDO is a block chain tool that can on the basis of minimal information, recognize original data from a counterfeit to reduce the likelihood of fraud or fake documents.
For more information please visit
Website
https://endo.im
Telegram
https://t.me/endo_en
Medium
https://medium.com/@endo_protocol
.