SunFlowerSFR

Problem Statement

On-chain KYC means that the user's KYC certification results are stored on the blockchain and combined with DID (decentralized identity) to achieve reusable KYC verification that does not require trust in a third party. The user submits KYC information (ID card, passport, proof of address, etc.) to the KYC provider (such as Civic, Synaps). The KYC provider verifies the identity and generates a KYC certification certificate on the chain (which can be stored in DID). The user uses the KYC certificate in DApps, exchanges, etc. to prove that he has passed the certification without having to submit the information again.

Solution

The user submits KYC information (ID card, passport, proof of address, etc.) to the KYC provider (such as Civic, Synaps).The KYC provider verifies the identity and generates a KYC certification certificate on the chain (which can be stored in DID).The user uses the KYC certificate in DApps, exchanges, etc. to prove that he has passed the certification without having to submit the information again.