Crypto KABN Announces Patent Pending Blockchain-Enabled Biometric ID Validation for Token Offerings
Crypto KABN to showcase at Consensus 2018 NYC live platform for one-time KYC/AML verification and global whitelist program
New York, New York–(Newsfile Corp. – May 10, 2018) – Crypto KABN Holdings Inc. (“Crypto KABN” or the “Company”) an innovator in financial services, technologies and products for the blockchain industry, is pleased to announce its patent application for an invention of a one-time verification process for token offerings. The Company has filed a patent with the USPTO for “the use of blockchain registries for validating personally identifiable information attributes.” The application increases efficiencies for ICO transactions by reducing the KYC / AML “friction” of buyers constantly having to repeat KYC / AML for each ICO purchased and provides a whitelist for ICOs, bringing a greater number of qualified buyers to token offering.
The patent filing comes ahead of the Consensus 2018 conference in New York starting May 14, where Crypto KABN will showcase its live program for ICOs and consumers. In March, the company launched ID KABN, a blockchain-enabled platform offering a tokenized biometrically-validated KYC and AML for ID and crypto wallets via mobile and online devices that avoids customers having to repeat processes to enter each new token offering.
“Following our launch and the implementation of our platform for new ICO clients, the patent filing further propels us along our development journey,” said Ben Kessler, CEO — Crypto KABN. “We are delighted we will be able to exhibit our company at Consensus and interact with industry leaders interested in partnering with us. Our ID KABN software provides companies offering tokens with a frictionless way to add biometric ID verification for KYC / AML compliance while our whitelist provides instant access to a growing database of token purchasers who don’t have to re-up on KYC / AML each time.”
ID KABN simplifies blockchain attestation, the process of validating that information provided to support identification verification is truthful. Beyond KYC / AML, this technology can work with a host of industries, including credit card issuers, to minimize fraudulent activity using ID KABN’s patent pending program. In 2016, credit card fraud worldwide totaled $24.71 Billion, according to an October 2017 Nilson Report.
ID KABN provides consumers with an easy-to-use biometric identity and third party whitelisted registries. Users can scan any one of up to 1,600 documents from over 180 countries, which can then be validated and combined with personal biometric ID Keys, including face, fingerprint, voice print, video print and digital signature, to create a unique and immutable record of an individual’s identification.
ID KABN provides:
- Biometric ID validation and full KYC (Know You Customer) and AML (Anti-Money Laundering) verification that is appended to their ID KABN identity.
- Whitelisted jurisdictional registries that can be used by third-parties to instantly verify the consumer.
- Crypto wallet integration, allowing users to both validate their identity and wallet for seamless integration into select cryptocurrency and exchange offerings.
The ID KABN solution is compliant with PII and GDPR protocols.
“ID KABN facilitates consumer control of their identity through biometric data while the technology behind Crypto KABN’s patent-pending invention uses blockchain registries so that third parties can access any verification,” said David Lucatch, Executive Chairman of Pegasus Fintech, Inc. a leading accelerator in the blockchain space. “This is also a great one-time verification process for consumers because they don’t have to start over with a new KYC / AML when a company offering tokens uses the ID KABN platform.”
The Crypto KABN team will be on hand at booth #23 during Consensus 2018, which is one of the world’s largest blockchain conferences.
About Crypto KABN Holdings Inc. (Crypto KABN)
Crypto KABN is an innovator in financial services, technologies and products for the blockchain industry. Our mission is to disrupt traditional thinking about solutions for identity verification, storage and financial card services by providing meaningful and relevant products and services to accelerate adoption of blockchain-based solutions.
The Crypto KABN suite of solutions include:
- ID KABN — Biometric Identification and validation
- Card KABN — Interactive financial solutions for cryptocurrency and fiat programs
- Hot KABN — Active storage solutions for blockchain-based data
- Cold KABN — Offline storage solutions for blockchain-based data
- Venture KABN — Venture fund for strategic investments in Blockchain-based start-ups
For Further Information, please contact:
Mr. Ben Kessler, CEO
Crypto KABN Holdings Inc.