On-Chain ID Verification

How Civic Can Help

DeFi platforms use blockchain for secure trading and ownership, but face challenges with compliance and privacy. Civic Pass for ID Verification with PII Sharing solves these issues.

For services involving real-world assets or financial regulations, DeFi platforms must block unauthorized users, including OFAC-sanctioned individuals, non-accredited investors, or those who don’t meet criteria.

Civic Pass lets builders gate smart contract functions, ensuring users can only trade, borrow, lend, or participate in token sales if they meet verification standards.

How It Works

Users submit their government-issued ID and authorize PII collection. The platform then retrieves an access token from Civic to fetch the PII. After reviewing the evidence and performing checks, the platform decides whether to approve the pass. If approved, Civic issues a blockchain-based attestation with no PII.

See supported countries and documents here.

Benefits

• Secure: Sensitive data is stored securely.

• Private: Only tokenized representation of verified information is shared on-chain.

• Fits With Your Compliance Program: Verification is faster and more efficient than manual checks.

• Transparent: Blockchain ensures verification results are immutable.

Use Cases

1. Accredited Investor Verification: Only qualified investors can access certain investment opportunities or token sales.

2. Inputs for Regulatory Compliance: KYC and AML checks for high-value transactions or institutional users.

3. Geofencing: Restrict access to certain services based on a user’s verified residency or nationality.

4. Risk Management: Adjust lending terms or trading limits based on a user’s verified information.

5. Participate in Governance: Voting rights comply with relevant securities and corporate governance laws.

6. Advanced Trading Features: Access to leveraged trading or other advanced features based on a user’s verified status.

7. Cross-Border Transactions: Verify user’s identity for international transfers in compliance with local laws.

Get In Touch

Civic Pass for ID Verification with PII transfer is a solution for DeFi platforms to address the growing need for secure and compliant identity verification. Get in touch to learn more.