Home » Polimec and Deloitte Revolutionize KYC for Global Digital Fundraising on Polkadot!

Polimec and Deloitte Revolutionize KYC for Global Digital Fundraising on Polkadot!

Polimec, a decentralized funding protocol on Polkadot, and Deloitte Switzerland have unveiled reusable KYC credentials.

by Isaac lane
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These banking-grade credentials, anchored on the KILT blockchain, aim to enhance regulatory compliance, security, and data privacy for participants.

Streamlined KYC Process by Deloitte

Deloitte issues the KYC credentials, trusted by multinational enterprises and governments globally. The credentials are securely stored on the KILT blockchain, offering an advanced level of regulatory compliance and data privacy.

Deloitte’s KYC credentials in Web3 present a more efficient and secure alternative to traditional methods. This innovative approach minimizes the time and resources typically required for identity confirmation in early-stage fundraising.

Empowering Data Ownership

Polimec’s collaboration with Deloitte signifies a step closer to a Web3 vision, where individuals control their data and identity. KYC credential holders can choose who holds their data, ensuring a more decentralized and community-focused environment.

KYC credentials cater to both natural persons and legal entities. For issuers, these credentials serve as authenticity certificates, instilling trust and accountability in fundraising rounds. Participants gain categorized access to Polimec as retail, professional, or institutional investors.

Revolutionizing Fundraising Practices

Polimec’s introduction of reusable KYC credentials revolutionizes fundraising by establishing a compliant and transparent environment. Issuers can offer contribution tokens to certified individuals/entities, reducing fraud risk. Participants save time and ensure project legitimacy by exclusively sharing KYC documentation with Deloitte.

KILT infrastructure ensures that KYC credentials can be verified at any time, and documented on the Polimec blockchain. This approach allows for regulatory-compliant, transparent, and secure transactions, preserving data privacy for all stakeholders.

Polimec went live as a Polkadot parachain in 2023, supporting projects in reaching fundraising goals. The collaboration exemplifies effective synergy between Protocols and Enterprises, fostering innovation and simplifying Web3 adoption.

Interested parties are invited to join the waitlist to stay updated on the upcoming possibilities to use KYC credentials in this new era of compliant DeFi.

This collaboration marks a significant milestone in creating a secure, transparent, and decentralized fundraising ecosystem for the digital asset space.

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