Toan Hoang

Blockpass

Blockpass is a self-sovereign Identity Portal for regulated industries and the Internet of Everything. Through the use of Ethereum and smart contracts, Blockpass is a Regtech platform offering shared regulatory and compliance services for humans, businesses, objects and devices. In its initial phase, Blockpass serves as the much needed identity solution for the blockchain and cryptocurrency ecosystem. The rapidly growing sector has been bolstered by a surge in Initial Coin Offerings (ICO) and billions of dollars investment without verifying the identity of investors. Fearing money laundering, terrorist financing and ponzi schemes, governments are globally implementing greater regulation of ICOs and the blockchain sector in general, requiring strict know-your-customer (KYC) and anti-money-laundering (AML) compliance. Such identity verifications take several days or weeks to complete, slowing down user onboarding and leading to significant costs as high as 20% of operating budgets.