Blockchain Based KYC System

From what we observe today, Blockchain is a revolutionary technology that will shape everything from the way we browse data, market on 3rd party apps, and exchange money for elementary to big transactions. Blockchain, if implemented and understood properly, can ensure reliability, security in all facets of human life through its decentralized processes. KYC (Know Your Customer) is the mandatory process of identifying and verifying the client’s identity when opening an account in a Bank and the 1st step to client-service provider relationship, yet it is one of the most tedious paperwork which has not developed much even with the recurring developments in technology to store and authenticate data and prove credibility. In this work, we propose a Blockchain-based solution where documents like photocopies of ID proof; address proof, photograph and ancillary documents can be authorized by developing a platform where bank authorities, as well as the client, can verify the credibility of both parties, respectively. This also has the added advantage of creating a more transparent and secure platform.