Blockpass and cryptocurrency exchange Crypto.com are delighted to reveal a brand new partnership as both companies seek to support tokens and identity verification options in the crypto sphere. As part of this partnership, Crypto.com will display information and updates about Blockpass’ revolutionary KYC token ‘PASS’ via at https://crypto.com/price/blockpass, and the new PASStoken.org will incorporate Crypto.com’s seamless widget to display the latest PASS price. In addition to this, Blockpass will be building an ‘Identify NFT’ system on the Chronos blockchain (launching PASS on Chronos at the same time) to bring support for compliant transactions to the Chronos ecosystem.
The concept of an Identity NFT system revolves around using a zero knowledge proof (ZKP) approach to bring identity verification options to the crypto sphere. In this, Decentralized Identifier (DID) standards are used to verify that users adhere to certain categories of information (for example, that they are over 21 years of age, or that they don’t reside in a country on a prohibited list) without revealing the underlying user’s raw data. Groundbreaking work on different forms and implementations of ZKP has been undertaken in the Blockpass Identity Lab at Edinburgh Napier University.
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Crypto.com is a cryptocurrency exchange app based in Singapore which boasts 10 million users and crypto price pages for over 8000 tokens. In its mission to accelerate the world’s transition to cryptocurrency, the Crypto.com Mobile App and Exchange provides the option to buy and sell more than 250 cryptocurrencies with over 20 fiat currencies. Users can enjoy a multitude of benefits, including the Crypto.com Visa card and staking rewards. Crypto.com prides itself on its speed, liquidity and security as it simplifies DeFi in preparation for the future of finance. Cronos is an EVM compatible sidechain running in parallel with the Crypto.org Chain. Cronos runs on a Proof of Authority (PoA) consensus algorithm and is powered by Ethermint – a PoS chain interoperable with Ethereum. It aims to massively scale the Chain DeFi ecosystem by allowing developers to rapidly port apps & smart contracts from Ethereum and other EVM-compatible chains.
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. Currently with more than 500,000 verified user identity profiles, Blockpass facilitates instant onboarding, and to date over 3000 services have taken advantage of this opportunity to get access to users with reusable digital identity profiles.
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“We’re excited to be working with Crypto.com on such a huge endeavor,” said Adam Vaziri, Blockpass CEO. “Bringing Blockpass to Cronos allows a whole new ecosystem of people to be able to conduct operations in a compliant manner whilst respecting their privacy, and at the same time many more will be able to enjoy the benefits of the PASS token. We’re glad to partner with a company that shares our vision of a safe, secure and seamless future for Web3.”
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations 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. The existential need for DeFi projects to be regulatory compliant and the recent integrations have led to a surge in interest for Blockpass’ On-chain KYC(TM) solution which promises to change the way blockchains enable compliance. Through its recent work with Animoca Brands, Blockpass is developing the ability to provide KYC where the delivery of the verification result is provably sent and shown on a blockchain without sharing the underlying data. This represents a significant step towards the future Blockpass hopes to bring about where identity verification can be proved without revealing any personal information at all.
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