? Proof of Humanity is a quick action taken to confirm that you're a real human and not a bot, often during authentication processes. This verification is crucial in maintaining trust and security in digital spaces, where the risk of automated bots posing as humans is ever-present.

There are several methods to prove your humanity:

Biometrics: These include unique physical traits like your face, eyes, palm, or fingerprint. These characteristics are difficult for bots to replicate.

National ID Documents: Uploading or scanning government-issued ID documents ensures that the person behind the screen is who they claim to be.

Social Graphs: Leveraging your network of connections to verify your identity. A large and authentic social graph can be a strong indicator of a real person.

Credential Aggregation: Combining multiple pieces of verified information (such as email, phone number, or work credentials) to create a comprehensive proof of identity.

These methods work together to create a robust system for human verification, making the digital world safer and more reliable.

The Role of On-Chain KYC in DeFi and PureFi’s Solution

As regulators pay more attention to DeFi, market participants must adapt and improve AML and KYC compliance. In this context, KYC becomes an important tool that can simplify the process for both users and dApps.

It is PureFi Protocol that offers a solution in this area with its On-Chain KYC, Uniswap V4 hooks, Regulated DEX.

Read article ?

https://medium.com/purefi/the-role-of-on-chain-kyc-in-defi-and-purefis-solution-57574c8b3415

Medium

The Role of On-Chain KYC in DeFi and PureFi’s Solution

As regulators pay more attention to DeFi, market participants must adapt and improve AML and KYC compliance. In this context, KYC becomes…

Analytical Dashboard! ?

View changes in $UFI market & realized capitalization in real time on our dashboard - https://dune.com/purefi_protocol/ufi-alpha-price-analytics

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The digital identity space today is fragmented and consists of multiple solutions and standards. This complexity often makes it difficult for people to understand how all the elements of identity fit together. The variety of approaches and technologies creates confusion and complicates the process of using digital identity.

To make progress on decentralized identity, new standards must be adopted to create a unified and functional ecosystem. All groups working towards this goal should collaborate with each other rather than seeking leadership alone. Only by joining forces can we avoid a situation where one big company retakes control of all aspects of digital identity.

Cooperation and standardization are key elements for creating an ecosystem that is convenient, secure and accessible to all users. This will not only simplify the identification process, but also increase trust in decentralized systems. Ultimately, it is the joint work of different groups that will lead to a truly effective and fair digital identity system.

#identity #kyc #purefi

KYC goes beyond scanning your ID card and videotaping your face. That's just the first step of the process. KYC is not just a credential, but a legal responsibility for some regulated businesses, seen as an ongoing process.

One of the key components of KYC is ongoing monitoring, which involves tracking customer transactions and behavior to identify suspicious activity. Companies use sophisticated algorithms to detect anomalies to prevent fraud and other illegal activities.

Regulatory requirements also oblige companies to periodically update and verify customer information so that the data is up to date. Another important aspect of KYC is risk assessment, where each customer is assigned a risk profile. Companies must adapt their KYC procedures to meet the new regulatory requirements.

The goal of KYC is to create a safe environment for businesses and customers. Companies that scrutinize and continuously monitor their customers protect themselves from financial crime and enhance their reputation as trustworthy and honest partners.

#KYC

$UFI new analytical dashboard! ?

Now you can quickly compare the price to number of holders on Ethereum, Polygon and BNB in seconds.

Dashboard: https://dune.com/purefi_protocol/ufi-alpha-price-analytics

Extending EBA AML guidelines to crypto companies

In recent months, the European Banking Authority (EBA) has taken a number of important decisions and updated its anti-money laundering (AML) guidelines aimed at crypto companies. These changes are designed to strengthen measures to combat financial crime in the context of the rapidly evolving cryptocurrency market.
In this article, let’s look at the details of these new guidelines and their impact on the crypto industry.

Read article ?

https://medium.com/purefi/extending-eba-aml-guidelines-to-crypto-companies-e4d91ecc4032

Medium

Extending EBA AML guidelines to crypto companies

In recent months, the European Banking Authority (EBA) has taken a number of important decisions and updated its anti-money laundering…

What is KYT?

Implementing KYT offers significant benefits, including risk reduction, regulatory compliance, and enhanced trust among customers and partners. Specifically, the PureFi Protocol employs a robust KYT system with a three-stage process: requesting verification, user and address verification, and credential verification.

Read article ?
https://medium.com/purefi/what-is-kyt-d54a1459fca2

Medium

What is KYT?

How Know Your Transaction ( KYT ) technology works in simple words.