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Individual identity is based on personal information such as name, phone number, address, photographs, social security and bank account information; in conclusion the group of information offering capacity to make an identity authentication. The digital identity representation is among the primary areas with the highest potential for disruption when the efficient procedures are absent; this causes:
- Access to personal data and financial capital
- Corruption in content generation under integrity supplantation
- Extortion and manipulation of confidential knowledge.
What had been the most significant restriction in migrating to online services so far has been the ability to secure data and perform identity verification accurately; a hurdle for any client and institution. Noticeable inconveniences in identity authentication developed several procedures (document analysis) that slow down corporate activities and transactions. Because of the previous obstacles, blockchain technology, after surfacing as a game changer in a financial revolution, applies all its potential through the Xenchain platform, creating a permanent solution to a fluctuating problem.
The Unnecessary Financial Hurdling
We all are busy working people in a world where time means money, for that reason, it’s highly likely this has happened to you:
- You have found the ideal supplier for your company, the arranged price is subordinate to a deadline, so the payment must be released as soon as possible. This is something you would do from your office computer, but since you left a while ago, you decided to download your bank’s mobile application. However, in order to access your money, first, you have to go through a series of steps to verify your identity. Time passes, and you haven’t yet been able to complete the transaction; after-ages, the platform lets you enter the account but, it’s too late, you’ve reached the deadline so now it would be an immense investment to make, the opportunity is now gone.
- Systems service providers such as travel agencies where the customer’s authentication is mandatory for receiving the acquired benefits, in many occasions get delayed or frustrated, making both the agency/establishment and the customer have an inferior experience. Also, medical services could be more convenient; insurance confirmations in emergency situations can determine the difference between life and death.
With the Xenchain app, the above situations will be a matter of the past.
Xenchain: The Ultimate Mobile Solution
Xenchain launched its app since March of this year; integrates the e-KYC (Know Your Customer) methodology into a digital environment for protecting personal data. The platform offers a fast and robust identity verification, currently making its Initial Coin Offer (ICO). Through this program the different cumbersome of bureaucracy procedures get erased; instead, it becomes a single confirmation method connected to the decentralized network.
The purpose of the company is to create the largest data environment which will allow fast access to essential info in a very reliable platform. Giving the opportunity to all its clients, investors, enthusiasts, and developers to be a part of the information revolution. Leading the Xenchain enterprise, there is a team of the highest professional quality in the area of computing and security supported by a vast advising crew as well, this ensures the mobile tool’s efficiency.
An Inside Look To Functions
In the blockchain world, every time a “transaction” or block of data is added to the chain, the majority within the network verifies its validity, that methodology guarantees systematic integrity. The following registered information is inalterable, this way hacking or information corruption would be a thing of the past.
Users adopt complete of their a as a result of Smart Contract technology; provided by the decentralized platform, the nature of the information, entities, and conditions are specified and performed. Whenever the client requires registration accounts into banks, social networks, e-commerce, among others, there is no longer need to present documentation at a location; the identity verification challenge is carried out through the tool so users can enjoy the company’s benefits.
Each time a transaction takes place, the external entity deposits into Xenchain; then, the user receives profits as XENC token, exchangeable into other cryptocurrencies or fiat currency.
Xenchain is about to introduce introduces a new perspective to all business; erasing weak authentication patterns and replacing it with high-powered decentralized network technology. This fresh design is destined to build a platform for secure identification, saving time and money. The enterprise eliminates all confusion related to multiple environments and mobile facilities; consequently the problems of user authentication.
The obtained data (face registers and documentation) is compared and creates a digital profile; this is supported throughout the network. Each time a data block is added to the chain, the network majority must verify its validity through Social Score available in the application, which guarantees its integrity. The information is encrypted under the conditions that the user uses.
To register on the platform, you only need two primary processes:
Log-In: The biometric facial recognition technology analyzes physical features to compare and ID/passport scan. The digital profile (XenUser) is registered.
Double Check: A reliable data source (XenValidator) validates it. Under the Social Score proposal, another client confirms.
Why Choosing The Xenchain And Support Its Initial Coin Offer?
With each identity verification transaction, the customer receives XENC rewards, token based on the ERC20 algorithm.
The ICO is offering a bonus of 25% making a current countdown to its end. The injection of electronic capital when acquiring XENC liquid assets give a competitive and financial advantage to every client.
A Look At Blockchain’s Future
As the society is increasingly focused on technology and the Internet, a better digital identity is demanded. Blockchain has been part of the contemporary culture for years and is penetrating all areas. The Xenchain platform is a unique opportunity adjusting at perfection point to the challenges of today and manages constant upgrade; expanding market presence and utilities because of the horizontal business organization.