Our collaboration with ShareRing will undoubtedly elevate the user experience on our platform. By integrating ShareRing's identity solution, we can enhance the security of our ecosystem and provide our users with an unmatched level of trust and reliability. This also showcases new use cases of blockchain technology, and ultimately better positions Profit4Life and ShareRing to open new markets through digital identities.
Emile Machado, CEO of Profit4Life
Challenges can be solved by
How it helped Profit4Life
Profit4Life only pays for the verified information they require during KYC, which are a verified name, and photo from their students.
Automating the KYC process allows Profit4Life’s staff (or staffs) to focus on other more important aspects of your their business.
Students that pass KYC are verified through institutional grade verification technology, meaning Profit4Life operations team can confidently rely on the information for ID verification. This greatly enhanced their security and compliance measures, as there was less of a likelihood that fraudulent identities would be accepted through their KYC.
The technology in which Profit4Life uses for KYC verification ensures that they are at all times in compliance with regulatory standards, and maintain a reasonable reason for accepting or denying KYC applications.
How it can be applied
Set up a QR code using the VQL Platform in order to collect the student's full name and photo.
Request students to download Identifi Me and set up their account by providing their full name, address, place of birth, and national identification number.
Email the QR code or put it up on the platform and have students scan it.
*All the student's information are held and controlled inside their own app and will never be stored in any database. Without their permission, no one can gain access to their information.