THELOGICALINDIAN - Daniil Rausov the architect of KYCLegal sits bottomward with Bitcoinist to altercate his companys different account the similarities amid its business archetypal and Uber and the applicant analysis procedures advised to accomplish activity easier for all bazaar participants
Bitcoinist: For starters, acquaint us about KYC.Legal? What makes this a different artefact on the market? How is it acceptable for the client?
DR: In short, this is a simple and quick way to complete applicant identification procedures, which can again be acclimated to verify the client’s character during assorted banking operations (so-called KYC (“know your customer”) requirements that banking institutions and companies alive with the money of clandestine individuals use to analyze and verify counterparties afore starting a banking transaction – author’s note). Our artefact is the abject affairs that makes it accessible for a applicant to access his or her details, while we use assorted automatic methods to analysis them.
Bitcoinist: In essence, you are creating a array of accepted all-around another to claimed IDs?
DR: Yes, that is absolutely it.
Bitcoinist: You accept said that a being could access any of his or her information. What if this advice is advisedly false? How will you verify it?
DR: In the additional date of our check, the applicant is visited by an agent, who confirms that the applicant was the one who entered the information. The abettor checks that he or she is a absolute active person, and is the being in the photograph on the identification document. This allows us to accomplish the greatest accessible akin of believability and angary for assignment with all businesses about the world.
Bitcoinist: Let’s brainstorm a situation: a bagman comes to your client, looks at his or her passport, but the abstracts provided by the being about-face out to be fake. How can this be checked?
DR: Of course, the abettor that visited the being cannot analysis whether or not the abstracts are fake. A coffer can’t do so either. That analysis is performed by the badge or the specialized accompaniment agencies accustomed to do so. In our case, we absorb all accessible casework accessible on the bazaar today and advice to analysis the information.
Bitcoinist: What does a being charge to do to use your service?
DR: All one has to do is download the app and access their information. The appliance consists of two parts. The aboriginal allotment is self-verification, area the user apart enters his or her information. The added is abounding verification, with a appointment from an agent. After commutual the procedure, the user receives a notification that he or she has anesthetized our analysis procedure, and this advice will be accustomed by all the structures with which we work, from banks to pharmacies, which can affair prescriptions accidentally for those who accept accustomed our verification. At the appeal of the assorted services, we can additionally accomplish added checks.
Bitcoinist: And who are these agents who accomplish the analysis procedures? How do you assignment with them?
DR: We do not accept full-time advisers who assignment as agents. They are aloof bodies who accept some chargeless time, who can acquire some money by activity to the abode abutting aperture to verify a user for us. Our aggregation will verify all of our couriers, so that we can assurance them to verify our clients.
Bitcoinist: So, your account runs on a business archetypal agnate to the one acclimated by Uber.
DR: Your allegory with Uber is actual apropos. From day one we aggressive ourselves on the Uber auto business model. We created a archetypal beneath which accustomed bodies can acquire some money by assuming assertive actions.
Bitcoinist: What advice will the final accommodation on a being contain? Of course, you will accept his or her age, name, and authorization details. But what else?
DR: Right now, we accept aloof started the aboriginal stage: we access a person’s name, surname, citizenship, address, and the advice from his or her identification document. Later we will acquaint certificates on apprenticeship and all kinds of added abstracts that affect to this being and can be verified.
Bitcoinist: What about someone’s acclaim report?
DR: We are able to abridge “blacklists” for companies. If addition who has anesthetized through our analysis procedures after gets into trouble, we will be able to accommodate this advice to alfresco organizations. This will anticipate this being from application assertive services.
Bitcoinist: Will it be accessible to somehow get yourself taken off of a “blacklist”?
DR: For our part, we can alone admission the accordant advice on a client. It is up to the agnate casework themselves to again adjudge whether or not to admission the being admission to their products. It is the aforementioned as casual through AML (anti-money laundering– author’s note) procedures: there are adequate levels, and analytical levels.
Bitcoinist: What do you charge to do to get “blacklisted”?
DR: That depends on what the being does in the casework that he or she is accustomed to use through our system.
Bitcoinist: Do you clue the activities of your audience in any way?
DR: That is the third date of verification. We will add advice to the antecedent abstracts on a client, and during allotment the casework will be able to see what a being has got himself or herself complex in. By the way, if they ambition acclaim organizations can additionally accept a person’s acclaim almanac from us, for example. We are currently developing this system.
Bitcoinist: Are there, alternatively, any benefit credibility accessible to your clients? Say a being has acclimated your KYC services, and he is an ethical and careful client…
DR: Our arrangement works in two directions. We accept alone affected aloft the abrogating side, but the absolute aspect is the best important. For banking organizations, it is actual important that a applicant has a absolute record. This gives him or her the adventitious to accept added bonuses in agnate areas.
Bitcoinist: Banks accept a abstracted aegis account that performs applicant analysis application a multi-stage analysis system. How do you plan to analysis the acceptable acceptance of your clients?
DR: The aboriginal affair we do is to affirm the advice entered by a person. We accomplish abiding that the advice is accustomed by the databases that accept chip with us. We can additionally use AML, which I mentioned earlier, or article agnate like a defended affliction account to accomplish added checks. This will access the assurance in our absolute users.
Bitcoinist: Let’s brainstorm addition situation: a being has anesthetized through the analysis process, taken out a accommodation in a bank, and disappeared. The assembly of accomplice companies appear to you and say: “You arrested this person, and he disappeared. How do we acquisition him?” What will you do in this case?
DR: This bearings is agnate to the one that already exists and is in operation on the cyberbanking market. The apparatus for analytic for a being and captivation him answerable is the same. The applicant does not accept aegis by ambuscade abaft our application. We accumulate advice on him. We accept his name and surname, advice from the coffer that he formed with, the advice from added checks… When he ordered the abettor analysis service, he additionally fabricated a payment, acceptation that we accept that advice as well. If it comes to cloister proceedings, we will accept abundant advice on the applicant to authority him answerable or to advice the coffer to get to the basal of his case.
Bitcoinist: Getting aback to the aegis casework of banks, do you plan to assignment with accustomed acclaim institutions instead of cryptobanks?
DR: Yes, we do. We are currently negotiating on accessible affiliation with a adequately ample coffer headquartered in Russia. We would like to abridge their applicant analysis action because it fits with the apparatus acclimated in our service. I anticipate that banks will be absorbed in our account because it will cut the costs of this account considerably. For example, they will not charge to appoint an added abettor to accomplish the aforementioned functions as those offered by us.
Bitcoinist: So, users will save time acknowledgment to you and your business?
DR: Of course! After all, it’s bigger for any account to acquire a absolutely absolute client, rather than application itself with alien analysis of a person, which requires added time and money. Today, it is actual important that a being can appear and anon use a service, after cat-and-mouse weeks or alike months for access. This is absolutely what abounding are attractive for, so we are approved to architecture aggregate to ensure that there would be no time delays.
Bitcoinist: Are KYC attempt altered in altered regions, or are they identical?
DR: Anniversary coffer in anniversary arena uses its own criteria, and we try to arrange them. We do aggregate to ensure the greatest accessible analysis of users, so that they not alone accept admission to one bounded coffer and one bounded service, but to all the advantages of these services.
Bitcoinist: What are the ambition markets for your service? Are you targeting alone America or alone Russia?
DR: Our account is universal. Our attorneys were tasked with advancing a band-aid that would accomplish it accessible for a user to assignment with casework in altered regions and in assorted countries. Thanks to the assay performed by our lawyers, we accept created a band-aid that is acceptable for assignment in the majority of developed countries.
Bitcoinist: In added words, if I, say, anesthetized through analysis in Russia, and again confused to America, I could use your account there as well?
DR: Yes, of course, By acceding you admission to our service, we affirm your identity, and the actuality that your abstracts accept been appropriately registered and checked. If necessary, we can accomplish added checks based on specific belief for anniversary region.
Bitcoinist: Will you do this for alone regions, or at the appeal of businesses?
DR: At the appeal of specific businesses. Say there is a banking academy that works with audience in altered regions, and they accept assertive requirements for anniversary region. We will use accepted solutions that acquiesce a being to be checked. But alone afterwards the AML analysis has been completed. The band-aid is chip with all of our ally who use our service.
Bitcoinist: What areas of business are you absorption on in agreement of affiliation and the use of your product?
DR: We assignment with allowance services, with microcredit organizations, and with funds that assignment with institutional cryptoasset buyers. Negotiations are additionally currently underway with two cryptoexchanges. We accept additionally started negotiating with the companies acting as a articulation amid banks and exchanges.
Bitcoinist: Will it be accessible to use KYC.Legal to buy a even ticket, for example, in the not-so-distant future?
DR: I anticipate that will be possible. That is one of our areas of activity, the acquirement of tickets and allowance services. We are already establishing relations with assorted companies alive in this area.
Bitcoinist: Why did you adjudge to authority an ICO for your project, and to use blockchain for its implementation?
DR: Our band-aid can alone be implemented if the abstracts that we use for analysis cannot be hacked. Blockchain has fabricated this possible. If it wasn’t for blockchain, the abstracts would be stored on some server, which could be afraid both in approach and in practice. Therefore, the assurance in these abstracts would be minimal.
Bitcoinist: What can be acclimated to pay for your services, and how?
DR: The casework will be paid afterwards the abettor is alleged application an accustomed coffer agenda or PayPal. That is what will after be acclimated to analyze payments.
Bitcoinist: Do you already accept an abstraction what you plan to allegation for your services?
DR: At present, the amount of the abounding analysis action application an abettor is from $10 to $50.
Bitcoinist: Why such a ample range? On what does it depend?
DR: The amount of the agent’s appointment depends on the region. For example, in Eastern Europe the amount of a bagman starts at EUR 10, in Asia and India it is hardly higher, in Russia it is RUB 500-600, and in the USA, which has the accomplished priced labor, the amount ability ability $50.
Bitcoinist: Returning to the Uber business archetypal on the bazaar of cyberbanking articles and services. What added cyberbanking casework do you anticipate may be outsourced in the future?
DR: An astronomic cardinal of these casework will appear, authoritative it accessible for addition to put their abilities to use and assignment independently. This is a huge market, and it continues to grow, which is why I am abiding that abounding businesses will be able to use this solution.
Do you anticipate that KYC.Legal will alter accepted KYC measures? How does KYC.Legal advance on accepted offerings? Let us apperceive in the comments below.
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