Our project aims to optimize the KYC (Know Your Customer) process by implementing a blockchain-based solution.Instead of repeating the KYC procedure for each bank visit, customers undergo it once and receive a token as proof.This saves time by eliminating redundant procedures.Blockchain's decentralized nature enhances security, as there's no single point vulnerable to attack.KYC protocols ensure that companies know their customers, involving document submission and background checks.By leveraging blockchain, we create a secure, efficient, and cost-effective solution for identity verification across multiple institutions.
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kumawata et al. (2024) studied this question.
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