Accreditation & KYC
Permissioned pools and KYC requirements are already a reality. We see this with the Aave Arc approach. Abachi wants to extend this support as credentialing and verification can be tokenized and shared across partners if all of them are using the Abachi SDK with on-chain proofs available.
This is what the current flow for Aave Arc looks like on the left side.
On the right side is what Abachi hopes to accomplish.
Some features:
KYC/AML rules will in most cases already be available on the front-end app. Abachi SDK will allow the front-end app to tokenize these against entity IDs (tenantIDs, businessIDs etc.). Once tokenized, they can then be shared across with partners and carry through properties which can be extended. These include expiry of the KYC token, accreditation level, risk profile, jurisdictional compliance rules etc. The possibilities are endless to essentially tokenize compliance on a per entity.
As such more services can also be powered by partners. Abachi core will also provide integrations with third party services so e.g. if you do not have a KYC provider, you can use the Abachi service to tap into BlockPass and others. Any relevant data stays with the front-end partner, a tokenized proof of that data is tokenized and shared.
Last modified 1yr ago