Blockchain KYC (Know Your Customer) refers to the use of blockchain technology to verify the identities of individuals and businesses in a secure, transparent, and decentralized manner. By using blockchain, KYC processes can be streamlined and made more efficient, reducing fraud, data breaches, and regulatory risks. Blockchain provides a single, immutable record of verified identities that can be shared across different financial institutions or platforms, allowing users to maintain control over their data while ensuring compliance with regulatory requirements.
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