Opendata, web and dolomites

BlockchainKYC SIGNED

Blockchain-based, 100% automated KYC (Know Your Customer) service

Total Cost €

0

EC-Contrib. €

0

Partnership

0

Views

0

 BlockchainKYC project word cloud

Explore the words cloud of the BlockchainKYC project. It provides you a very rough idea of what is the project "BlockchainKYC" about.

id    few    billion    ideal    2017    impersonate    documents    say    theft    proofs    service    payments    solving    personal    trusted    uber    breach    last    12    huge    assert    authentication    customers    data    solid    days    2016    opportunity    uses    money    malware    servers    costing    operation    period    seamless    mitigate    months    check    protection    million    164    proofing    half    ids    economic    hoarding    risk    protecting    mobile    transact    global    costly    banks    database    delay    records    fraud    issue    enrolment    financing    enrolling    benefits    annually    cagr    commerce    authenteq    customer    downsides    identity    phishing    airbnb    legitimate    shield    kyc    fraudsters    hacks    manual    substantial    requesting    enroll    15    company    regulated    hours    reputation    2021       validate    unauthorized    breaches    online    services    laundering    stolen    degrading    fraudulent    slow    business    businesses    biometric    checks    blockchain    compulsory    representative    first    worldwide    automated    themselves    routines    multibillion    transactions    free    terrorism    six    victims    attempts    millions    100    performed   

Project "BlockchainKYC" data sheet

The following table provides information about the project.

Coordinator
AUTHENTEQ EHF 

Organization address
address: BORGARTUN 27
city: REYKJAVIK
postcode: 105
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Iceland [IS]
 Total cost 1˙758˙750 €
 EC max contribution 1˙231˙125 € (70%)
 Programme 1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
 Code Call H2020-SMEInst-2018-2020-2
 Funding Scheme SME-2
 Starting year 2019
 Duration (year-month-day) from 2019-02-01   to  2021-01-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    AUTHENTEQ EHF IS (REYKJAVIK) coordinator 1˙231˙125.00

Map

 Project objective

Online identity theft / fraud due to database breaches, phishing or malware is a global issue with huge costs. In the first half of 2017, 1.9 billion records were stolen worldwide – up 164% compared to the last six months of 2016 – costing on average €3.1 million per breach. After these hacks, fraudsters use the stolen data to impersonate their victims online in a few hours.

Online businesses try to shield themselves from the use of stolen or fraudulent IDs by requesting documents to their customers to assert if ‘they are who they say they are’. These global routines are known as ‘Know Your Customer’ (KYC) checks and they aim to ensure that businesses enroll and transact only with legitimate customers. The major downsides of KYC are the slow, manual and costly processes (up to 100€ per check) that delay enrolment for up to 12 days, and the ‘hoarding’ of ID proofs in company’s servers, degrading personal data protection in case of a breach. KYC is compulsory for regulated services (e.g. banks) to mitigate fraud, money laundering and financing of terrorism, but non-regulated services, e.g. AirBnB or Uber, also do KYC checks to avoid fraud costs and reputation loss.

To address the problem of unauthorized uses of a legitimate ID (and fraud attempts with non-legitimate IDs) while protecting the personal data of end-users, Authenteq is developing a blockchain-based, 100% automated, identity proofing service – Authenteq ID – with biometric user authentication, ideal for online services that need a trusted ID for user enrolling or to validate high-risk transactions. With the rise of e-commerce and mobile payments (CAGR of 15.9% in the 2016-2021 period), a substantial growth can be expected on the millions of online KYC checks performed annually. To access the multibillion business opportunity of solving KYC checks online, our objective is to establish solid evidence of the economic benefits of Authenteq ID, and risk-free, seamless operation in representative KYC routines.

Are you the coordinator (or a participant) of this project? Plaese send me more information about the "BLOCKCHAINKYC" project.

For instance: the website url (it has not provided by EU-opendata yet), the logo, a more detailed description of the project (in plain text as a rtf file or a word file), some pictures (as picture files, not embedded into any word file), twitter account, linkedin page, etc.

Send me an  email (fabio@fabiodisconzi.com) and I put them in your project's page as son as possible.

Thanks. And then put a link of this page into your project's website.

The information about "BLOCKCHAINKYC" are provided by the European Opendata Portal: CORDIS opendata.

More projects from the same programme (H2020-EU.3.;H2020-EU.2.3.;H2020-EU.2.1.)

Manuback (2019)

MANUBACK, the smart garment for operator protection in the field of Manual Handling of Goods

Read More  

Project Tracworx (2019)

Tracworx is a data analytics tool that allows you to establish bottlenecks in your patient flow, while understanding your efficiencies and ultimately your true capacity.

Read More  

TalentVision (2019)

INSIGHTS FOR TALENT ASSESSMENT USING COMPUTER VISION TECHNIQUES FROM NEURO PSYCHOLOGY

Read More