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Why zero-knowledge KYC won't work

Published 02/15/2023, 01:04 PM
Updated 02/15/2023, 02:40 PM

The emergence of blockchain technology presents an opportunity to reexamine and innovate solutions used in our day-to-day life. Blockchains and, broadly speaking, the digital space fuelled by an artificial intelligence revolution urgently need to establish verifiable human identities to ensure trust, accountability and regulatory compliance.

There are a variety of emerging technologies, both on- and off-chain, that could serve as the basis for a functioning trust framework. One solution, in particular, is often referred to as the holy grail of verifications — zero-knowledge Know Your Customer (zkKYC) verification.

Why zkKYC proofs will not work for blockchains

Balázs Némethi is the CEO of Veri Labs and a co-founder of kycDAO. He is also the founder of Taqanu, a blockchain-based bank for people without addresses, including refugees. He’s a graduate of the Budapest University of Technology and Economics.

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