Qtum and Blockpass Partner to Deliver On-Chain KYC

This article was first published on Stories by Qtum on Medium
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As part of the agreement, Qtum will offer subsidies to specific members seeking to achieve regulatory compliance via Blockpass’s On-chain KYC solutions.

“We’ve known and been fans of the Qtum team and network for a long time, and it’s great to have the opportunity to work closely with them,” said Blockpass CEO Adam Vaziri.

“The Qtum network is innovative, and we’re excited to be able to bring the benefits and possibilities of On-chain KYC to developers and users alike. Facilitating fast, simple and efficient regulatory compliance on Qtum creates more opportunities for everyone, and spreads the phenomenon of On-chain KYC to an even wider audience.”

“On-chain KYC will become a critical component for numerous protocols on the decentralized web,” added Qtum co-founder Jordan Earls. “Rather than hinder innovators who are seeking to stay compliant while enabling new technologies, the Qtum Foundation would like to support those builders by backing Blockpass’ expansion to the Qtum blockchain.”

“Blockpass’ solution has exceeded our expectations when it comes to cost, which is an order of magnitude cheaper than traditional services, and its ability to only allow non-sensitive pieces of information to touch the blockchain.”

Qtum is an open-sourced public blockchain platform that leverages the security of unspent transaction outputs (UTXOs) in combination with EVM smart contracts. Secured by a Proof-of-Stake consensus algorithm, Qtum has its own Decentralized Governance Protocol (DGP) that enables specific blockchain settings to be modified, leading to the possibility of increasing Qtum’s block size without the need for a hard fork.

Blockpass is a digital identity verification provider that 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. ...

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