If you are interested in crypto projects, you know exactly what the definition of KYC is. You have to prove your reality for a project you want to participate in. If you are a frequent investor, this can be very annoying after a while. For this reason, once you verify your credentials and only share the necessary information with projects, intermediate solutions give quite ideal results. A structure that will store our credentials safely and only share necessary information when it is necessary is also quite comfortable for investors.
KABN is trying to make it easier for users to prove their identity on the web without sacrificing control over sensitive data. This is a very useful solution in an environment where finance technologies are becoming widespread. Users choose exactly what information they want to enter into their digital identity and who they want to share with. Beyond that, KABN responds to questions such as how my data is being used, who is being sold, and my information is secure through digital banking and low-security portals.
The key is an authentication tool supported by the blockchain. It includes a blockchain-based dynamic multidimensional definition to help verify that someone is really the person he claims to be. This level of authentication is full of what government agencies need. When we ask what are the advantages of this security and identity management technology, the KABN team says that there is a structure that offers lower cost, more reliable results and a better user experience.
KABN is also an e-commerce payments platform. It securely stores your personal information and payment data in the block chain, so you don't have to share this valuable data with anyone, including KABN. One advantage is that companies that you have to share your identity do not have to store your data. Thus, you can use and pay for services without worrying about your privacy and security.
With KABN, everyone can take control of their data. Instead of paying and delivering your personal information, everyone can choose whether to share data and when to share it. Moreover, he can only do so on his own initiative.
This is why KABN gives people power. It also saves companies from managing and securing massive data silos. By atomizing these silos, it can eliminate the biggest challenge facing companies today: cyber security.
KABN technology can be divided into three main headings. These;
Biometrics: confirms user identity (without storing)
Data encryption: keeps data private
Blockchain: stores encrypted data in tamper-proof form
The combination of these technologies enables us to have more control over the manufacturer device than a central enterprise server. Biometrics allows KABN to verify the user on his or her device. Then this data is still encrypted on the user's device. This means that the user can determine who can access this data.
Developers of KABN have established a strong partnership with VISA, which will enable them to quickly popularize their products. Ultimately, VISA is one of the flagship companies in providing bank card services. In addition to all these, KABN is ready to show us all the necessary features including loyalty programs, reliability and security system. If we analyze these concepts separately, we can safely say that KABN is designed with all the necessary requirements for authentication and with biometric data. In addition, the system requests this data only once during the registration of the customer and then uses the data obtained from all financial transactions performed by the user. That is, the system always checks whether you are the one doing the operation. This approach ensures that KABN meets all international requirements and eliminates the possibility of money laundering.
In general, it is possible to sort the advantages of the KABN platform as follows:
- Users Security
- Digital Debit Card
- Financial Trading
- Fiat Currency Investments
- Loyalty Reward
- Transparency
Considering the advantages of KABN, it can be said that this platform is not enough, although we consider the fact that this platform collaborates with VISA. As you understand, KABN aims to simplify the lives of all crypto enthusiasts and to turn their digital assets into traditional money and to take back the products and services they buy, no matter where they are. As a result, KABN does not limit its users to certain currency pairs, it uses all the traditional currencies as well as other currencies worldwide. Moreover, the user does not only use KABN as a tool to buy certain goods, but can also use their funds through ATMs supporting Visa format. This is exactly what makes KABN more accessible and popular among its rivals.
KABN was first developed in 2018 and helped various investors get valuable help. Accordingly, investors will be able to channel a large number of funds into the ecosystem, which will benefit from a different profile at various times, which will be effective for the improvement of the platform. In addition, the investor will be able to benefit from tokens sales and will have the right to obtain a large number of tokens. KABN will act as an incentive for its active role in growth in the ecosystem.
If you're interested in the project and would like more information, you can use the links below.
Website
Whitepaper
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Telegram Channel
Telegram Group
Medium
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Author bounty0x username: hashin