Cardano’s EMURGO Announces Partnership With Blockpass

Blockpass just announced a strategic partnership with EMURGO that plans to bring on-chain KYC services for projects in the Cardano Ecosystem.

Covered: 

• On-chain KYC dApps on Cardano
• Blockpass Is Ready For The Future

On-chain KYC dApps on Cardano

Blockpass announced that they are collaborating with EMURGO to bring KYC services to the Cardano ecosystem. This works well for both parties, as Blockpass is a provider of digital identity verification, and EMURGO is a company that works on Cardano and serves as its official commercial arm.

The collaboration will allow Blockpass to add Cardano addresses to its app so that it can offer on-chain KYC services to projects within the Cardano ecosystem.

Through this collaboration, @BlockpassOrg will add #Cardano crypto-addresses to the Blockpass App, and offer On-Chain KYC services for Cardano ecosystem projects, optimizing their KYC requirements.

— EMURGO (@emurgo_io) April 21, 2022

Blockpass Is Ready For The Future

Because of Blockpass, users will be able to create, store, and manage secure digital identities across the entire Cardano ecosystem. Blockpass technically works as a SaaS (Software as a Service) and will serve to manage KYC (Know Your Customer) and AML (Anti Money-Laundering) across Cardano.

The platform already has over 500,000 users and is currently used by 3,000 services, including some projects involved with Animoca Brands linked to NFT rewards.

The big takeaway of this collaboration is that this service can address some need in the DeFi space by complying with current regulations. Blockpass is developing the ability to provide KYC services that enable identity verification on-chain, but without sharing user data. The CEO of Blockpass has put their company in a strategic position regarding regulation, as we can expect governments to continue to want their piece of the pie in the crypto space:

“A significant shift is underway towards a Web3 world with decentralized applications running and being developed on Cardano’s blockchain technology, particularly in the DeFi and NFT space. As these applications grow their communities and bring more users to the Cardano ecosystem, there will also be a need over time for certain projects and enterprises to offer quick and easy KYC services on their applications for their users to access regulated industries. As a founding entity of the Cardano blockchain, EMURGO is committed to ensuring decentralized applications on Cardano have the tools readily available to enhance compliance when necessary.”