Exchanges, Crypto exchanges, brokerage offices, banks, funds, online loans, etc. The next level will include, for example, services such as online orders of prescription medicines, or proof of a user’s age for, say, the purchase of alcohol or tobacco. In a word, any services that require identity verification.

The entire world, without limitation. We are already set for rollout on the English- and Russian-speaking markets. In the future we plan to expand around the globe.

No, it is not like that at all. The product consists of two parts. The first part is independent self-verification. This is for those cases when the relevant service only requires users to independently put in their information, without any additional authentication, at the users’ personal responsibility. The second part is when one of our agents goes to a convenient place of the user’s choosing and confirms the information entered.

Going forward, the GID checks this information against numerous databases, and the user receives the maximum level of verification and identification.

No, not necessarily. The project does not plan to maintain a staff of agents. Almost anyone who is willing to go and confirm someone’s identity and verify his or her documents for $5-25 can become an agent.

Like an Uber driver, it is enough for the agent to have our application, through which orders will be placed. If clients who would like to use this service appear in a certain region, we find local people who are willing to act as our agents.

The initial information entered can be anything, even false information. However, when the order is processed we check the cardholder and the party who is paying the money.

The card is issued by a bank, which performs some sort of check on its end. Potential agents also undergo a fairly in-depth verification process: utilities bills issued in their name and to their address, passport or other identification document, details of bank accounts that have been in existence for at least 45 days (this ensures another level of reliability, we do not want fly-by-night agents). We check those who will then check our clients.

A document identification system will be used to check the documents submitted during user verification, and we also perform an AML check and use various other internal and external services that allow us to verify the provided documents. During the second stage of document verification, we use agents who must confirm that the person exists and that the documents indeed belong to him or her. It is similar to the example of receiving a credit card from a bank.

The bank sends a courier who checks the recipient and his or her documents. Anyone, anywhere in the world, who meets our selection criteria can become an agent. The BitTor KYC agent will receive a commission for each visit to a user. One might say that this is a sort of “uber KYC”.

Our agent is responsible for ensuring that all the information on a client is checked carefully. If there are problems, they are resolved through the courts. It will be fairly easy to identify a potential fraudster, as we will know quite a lot about him or her.

About a year ago, our team was working on the creation of a microcredit product for the financial market. We wanted to make the process as simple, quick and reliable as possible.

It turned out that the client identification solutions on the market were all too complex and difficult to use. There was simply no convenient solution. We were forced to think it up and create it. The application of crowdsourcing and external agents to the KYC concept makes it possible to ensure its simplicity and speed.

We have been working in information technology for a long time now, more than 10 years. The core of our team has been together for more than five years now, working on projects that cater to our already existing businesses and provide B2B (business to business) solutions: project management, goal setting, audit, etc. We have been watching blockchain closely since 2016

It’s both. Businesses need our solution, because they need clients that meet applicable KYC requirements. At present it is very difficult to perform this verification, and clients sometimes have to wait weeks for the process to be completed.

On the other hand, clients need diverse services that they can only access after they have completed the entire verification process. Now, with the help of our platform, this will be easy and convenient for everyone. And all the laws will be observed!

It’s both. Businesses need our solution, because they need clients that meet applicable KYC requirements. At present it is very difficult to perform this verification, and clients sometimes have to wait weeks for the process to be completed.

On the other hand, clients need diverse services that they can only access after they have completed the entire verification process. Now, with the help of our platform, this will be easy and convenient for everyone. And all the laws will be observed!