Why & How Raze Handles KYC & AML
Compliance. Compliance. Compliance.
Kyle Kemper
Last Update il y a un an
Identity Verification and Compliance Screening (KYC/AML)
It is important for Raze to conduct identity verification and compliance screening on all of its users in order to ensure the safety and security of the platform for both investors and issuers. The identity verification process involves the individual providing proof of their identity, such as a government-issued ID or passport.
Identity verification helps to ensure that the individuals using the platform are who they claim to be, which can help prevent fraud and other types of misuse of the platform. Sanction screening is a process of checking to see if an individual or entity has been placed on a list of sanctioned individuals or entities, which can indicate that they have been involved in illegal or unethical activities.
By conducting both of these checks, Raze can help ensure that it is not used by individuals or entities that could pose a risk to the platform or its users. Additionally, these checks are required for regulatory compliance and are implemented as a best practice in order to protect the reputation and integrity of the platform.
Verified Identity NFT
A Verified Identity Non-Fungible Token (NFT) is a digital asset that represents an individual's identity and is stored on a blockchain. In order to use Raze, all participants must first go through a process of identity verification and Anti-Money Laundering (AML) screening. Once passed, Raze automatically issued a Verified Identity NFT to the user's connected wallet.
The Identity NFT will be stored on a blockchain and can be accessed and verified by anyone with the appropriate permissions. It is required to be present in the user's wallet in order to access the Raze Platform.
It should be noted that the Identity NFTs contain no personally identifiable information; they are a digital proof that the user has passed KYC/AML and are permitted to use the platform.