Impact Factor (2025): 6.9
DOI Prefix: 10.47001/IRJIET
From what
we observe today, Blockchain is a revolutionary technology that will shape
everything from the way we browse data, market on 3rd party apps, and exchange
money for elementary to big transactions. Blockchain, if implemented and
understood properly, can ensure reliability, security in all facets of human
life through its decentralized processes. KYC (Know Your Customer) is the
mandatory process of identifying and verifying the client’s identity when
opening an account in a Bank and the 1st step to client-service provider
relationship, yet it is one of the most tedious paperwork which has not
developed much even with the recurring developments in technology to store and
authenticate data and prove credibility. In this work, we propose a Blockchain-based
solution where documents like photocopies of ID proof; address proof,
photograph and ancillary documents can be authorized by developing a platform
where bank authorities, as well as the client, can verify the credibility of
both parties, respectively. This also has the added advantage of creating a
more transparent and secure platform.
Country : India
IRJIET, Volume 6, Issue 1, January 2022 pp. 5-10