Document Verification using Blockchain


Authors : Dr. P. Visalakshi; Shourya Rawat; Prateek sen

Volume/Issue : Volume 8 - 2023, Issue 7 - July

Google Scholar : https://bit.ly/3TmGbDi

Scribd : https://tinyurl.com/bde3k8s5

DOI : https://doi.org/10.5281/zenodo.8210508

Abstract : In our country, we have a centralized financial system. Customers must now update their information as part of the KYC, commonly known as document verification process. This procedure is used by many businesses and financial institutions to save data for purposes like employee and user validation. The issue with this procedure is that each time a person enters a new institution, he must go through document verification. Even at banks, he needs document verification for a variety of transactions. If he transacts, a number of steps and middlemen are involved. In order to do away with the middlemen and costs related to continuous document verification, we advise consumers to perform one-time document verification. Eventually, users will have access to this information whenever they want, wherever they are, for a variety of reasons, and in different places. The most cutting-edge technology in the world—Blockchain— will be used by our system for this, giving us a distributed environment, user transparency, and no outside interference—all of which increase system security.

Keywords : KYC, Blockchain.

In our country, we have a centralized financial system. Customers must now update their information as part of the KYC, commonly known as document verification process. This procedure is used by many businesses and financial institutions to save data for purposes like employee and user validation. The issue with this procedure is that each time a person enters a new institution, he must go through document verification. Even at banks, he needs document verification for a variety of transactions. If he transacts, a number of steps and middlemen are involved. In order to do away with the middlemen and costs related to continuous document verification, we advise consumers to perform one-time document verification. Eventually, users will have access to this information whenever they want, wherever they are, for a variety of reasons, and in different places. The most cutting-edge technology in the world—Blockchain— will be used by our system for this, giving us a distributed environment, user transparency, and no outside interference—all of which increase system security.

Keywords : KYC, Blockchain.

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