/biz/ - Business & Finance

reminder

Imagine going to the store and buying an apple and then some retard nearby starts having an uncontrollable fit because he doesnt like apples. That's how I view these people.

>>55166482
that's a shame if true

>>55128318
You fucking retard. This is from Bob:
>Nah, I don't believe nexera id and allianceblock can do it. See notes from @Broken_Boxes

Connecting Nodes:
>By the way in case anyone was curious; for a financial Institution to legally take or use KYC:
these 4 attributes MUST be adhered to by law.


>1) The software entity is subject to the SAME obligations for data retention, customer due diligence, that the financial institution they are working with is. This would be according to the laws of each jurisdictional sector. i.e. The software provider must be licensed and regulated by the same laws that the Financial institutions they are working with are beholden to.

>2) Contract of data sharing

>3) Risk of transaction and customer due diligence still must be done by accepting financial institution

>4) Ongoing monitoring still must be done by accepting financial institution

>SOFTWARE SUPPLIERS OF KYC CANNOT DO THE REQUIREMENTS ABOVE

>Everest empowers users, organizations, and projects to utilize True Identity, eKYC, and a full suite of financial services including on/off-ramps for fiat/crypto backed 1:1 by our legal and programmable stablecoin voucher.

>Very good summary. To put this in context, it means that DID and ZKP producers are potential partners, not competitors, of Everest.

>95% of other "KYC" solutions are DOA and are not going to pan out.
>Even if they do they will still need to be compliant and conform to regulations + have a license to Operate.
>And even if they get that far they will need to have a true identity system because a VC just doesn't cut it.
>The bank isn't going to take your reputation based VC.
>However Everest is already working with many financial institutions which not only allow for Everest's KYC -- but are an extension of the Everest Network with things like Bitso, Remittances, and our Stablecoin voucher.

>This enables many other markets like remit, loans, microloans, tokenized stocks, realty, TrueDaos and more.