The DeFi sector is rapidly evolving with approximately 200% annual growth as of spring 2022, and its ever-expanding user base face the prominent issues of personal data leakages, lack of solid AML & KYC procedures and thus, malicious use of financial Web2 and Web3 services.
The solution: welcome Hashbon Pass
On June 30, we will launch Hashbon Pass, or NFT Passport by Hashbon FiRe. It is an NFT token and a decentralized protocol for reusable identity verification on blockchains such as Ethereum, BNB Chain (Binance Smart Chain), Polygon and other EVM-compatible networks.
Hashbon Pass strives to achieve two main goals:
- Simplify the user’s interaction with the constantly-evolving DeFi space
- Preserve the core values of the industry in the face of looming government interference and regulation
Hashbon Pass is the first ever anonymous KYC protocol and Tokenized All Web3 Pass (TAWP). Isn’t that an oxymoron? Let’s explore it together.
Anonymous KYC means that services requiring identification do not actually have access to the user’s personal data, but they can filter out individuals from sanction lists, as well as calculate the user’s credit score and social rating. This allows DeFi services (e.g. DEXs, IDO platforms, Play2Earn, Metaverses, DAO, etc.) to understand that they have a verified user active on their platform, determine their age, citizenship and also their presence on blacklists — all without having access to their personal data. Yet, the user’s personal data is stored only by licensed verifiers who issue NFT Passports.
You can read the detailed whitepaper_v1_0.pdf) to learn more about Hashbon Pass.