Anonymity is one of the Internet characteristics the community felt most passionate about during the technology’s rise as a regular medium in society; unfortunately, there have been several intricacies around this subject; the well-known term “phishing” has established the most vulnerable side in current platforms. Entities in an attempt of making their systems more secure have implemented several authentication procedures. However, using these tricky and complex verification techniques, such as answering “safe questions” and codes or analyzing physical documentation in offices have proven in the past are not reliable methods at all; inefficient solutions like these consume large amounts of money and time.
To solve the difficulties presented, Xenchain app takes advantage of the biometric alternative in facial recognition and combines it with the blockchain technology, creating a powerful tool where the validity of your identity will no longer be doubted but provided.
Digital Customer Enterprise
Xenchain uses facial recognition at its higher degree; making the verification process a faster and more reliable mechanism. This initiative uses the e-KYC technology (Know Your Customer authentication through a mobile app), Digital ID and Social Score, where you can validate your information within the platform receiving profits, so both the institutions that require it and users can find immediate utility.
Among the most notable attributes of blockchain technology its distributed character, inviolability, and encryption. Because of this, the Xenchain validator has the same legitimacy when saving your information as other organizations such as the Civil Registry or a Credit Bureaus, with the difference at the moment of performing a privacy system, gives you total sovereignty over this information. Besides, this tool allows the implementation of an incorruptible distributed database, which protects the confidential information of the user and, at the same time, enable third parties to verify the coherence of the data efficiently when permitted.
The Brand-Customer Prerogative
Digital environments have opened the doors for an infinity of new business modalities, besides it has ingrained in the entrepreneurs, clients, and users different multitasking capacities in continuous evolution through diverse technological advances in recent times, nevertheless it has also created some other difficulties for customer onboarding. Let’s picture a recurrent image in our day-to-day life:
- The price of several needed items is on offer at a store’s website, the only thing you separating you from the actual product purchase is to create a user account, an easy task to realize, right? However, once you start introducing your data a barrier has appeared; it turns out you’ve found it’s completely impossible to register and access the offer since the brand has implemented the most rigorous and inefficient identity authentication system in the world.
Xenchain platform gives you the best user experience and offers companies and brands the ability to make the onboarding process organic, so these situations would not be an impediment anymore, and both customers and businesses could focus on more critical issues.
Valuable Source and Smart Contracts
When the company in which you are about to be ascribed requires to verify your identity, under the terms established in the Smart Contract, they ask the Xenchain platform for access. Deposit XENC into the digital environment. From the app, a reward in tokens will also be released to users.
Because of the previously explained procedure, Xenchain stands out as a democratic system in a horizontal environment.
Xenchain team programmed the software to make a tacit agreement between the parties require through the Smart Contracts, ; specified conditions must be provided by the user and achieved by the arrangement to access information and execute the data share. This means no external operator is performing as an intermediary role since this is adopted by the computer code, which will undoubtedly ensure full compliance with specifications; therefore, these algorithms reduce costs and time spending.
Secure, Immutable, Irrefutable
Personal documentation (ID or passport) gets scanned, then the app analyses your features with facial recognition; the conjunction of these generates an electronic identity later registered in the Xenchain platform. With this personal profile, it can accessed and be protected in different platforms and facilities such as healthcare, money transfer facilities, exchange entities and even traveling agencies. The data is then stored and gives the person the ability to decide what kind of information gets shared and the characters accessing it.
This organization would be a pioneer in uniting decentralized solutions to help the facial recognition system, in addition to technologies such as artificial intelligence, to create a valid verification system for institutional platforms that you can carry out for everyday life and business transactions. The starting point of this enterprise is that each person is unique and can be identified by their intrinsic physical features. The facial recognition has proven to be much safer than any other traditional confirmation means, joined to the e-KYC technology is a reliable scheme to acquire.
Initial Coin Offer
The funds collected for this proposal obtains a relevant value, in addition to being an encryption initiative, protection, and digitalization of identity, which will facilitate the rest of your activities. Also to receive XENC tokens rewards, a cryptographic asset of malleable value; its trading and exchanging will be available once the ICO ends allowing the organization to reach the next level. The price of these will have a reduced margin only during the funding phase; investors and enthusiasts can take full advantage of the following revaluation.
The decentralization (and its consequence, democratization) of this type of segment is marking history as a great revolution of our time; blockchain technology seems to be the key factor of this potential general decentralization. In addition to being a viable financial option, with this set of features, Xenchain promises to innovate and cause a rearrangement in identity preservation and facial recognition.