2.5.1 KYC and User Scoring
The KYC and User Scoring case implemented on the DGT platform focuses on establishing a robust Know Your Customer (KYC) process and implementing a user scoring system to assess the credibility and trustworthiness of platform users. It leverages the features of the Notaries node and the decentralized identification (DID) system to enhance identity verification and user reputation management.
2.5.1.1 Benefits
Enhanced Security: The integration of the Notaries node and DID system provides a secure and decentralized solution for verifying user identities, reducing the risk of identity theft and fraud.
Compliance with Regulations: The KYC process ensures compliance with legal and regulatory requirements by verifying user identities and collecting necessary information.
Trust and Credibility: The user scoring system enables the assessment of user reliability and reputation based on their transaction history and behavior, fostering trust within the platform community.
Efficient Onboarding: The streamlined KYC process simplifies user onboarding, reducing administrative burdens and improving the user experience.
Personalized Services: User scoring allows for personalized services and tailored experiences based on individual user profiles and reputations.
2.5.1.2 Solution Components
Notaries Node: Integration with the Notaries node enables the validation of user identity documents and credentials, ensuring the accuracy and authenticity of user information.
Decentralized Identification (DID) System: Integration with the DID system enables the creation and management of self-sovereign identities for users, providing control and ownership of personal data.
User Data Storage: Secure storage of user data is essential to maintain privacy and protect sensitive information. Integration with a secure data storage system ensures the confidentiality and integrity of user data.
2.5.1.3 Implementation Plan
| Step | Description | Activity | Duration (Weeks) |
|---|---|---|---|
1 | Requirement Gathering and Design | Define KYC and user scoring requirements | 2 |
2 | Integration of Notaries Node and DID System | Implement integration with Notaries node and DID system | 3 |
3 | KYC Process Development | Design and develop the KYC process flow | 4 |
4 | User Scoring System Development | Design and implement the user scoring system | 4 |
5 | Data Storage Integration and Security | Integrate a secure data storage system | 2 |
6 | Testing and Quality Assurance | Conduct testing and ensure system reliability | 2 |
7 | Deployment and Go-Live | Launch the KYC and user scoring system | 1 |
8 | Monitoring and Maintenance | Monitor system performance and provide ongoing maintenance | Ongoing |
The duration provided in the implementation plan is approximate and may vary based on project complexity and resource availability.
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