Blockchain KYC (Know Your Customer) uses blockchain's immutability and transparency to streamline identity verification processes. It enables secure and transparent storage of customer information, allowing users to control their data. By leveraging decentralized technology, blockchain KYC eliminates the need for redundant identity checks across different services, reducing administrative costs and improving compliance. This system increases privacy, reduces fraud, and enhances efficiency in financial services, healthcare, and other sectors where KYC regulations are mandatory.
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