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KYC or Know your customer verification is the backbone of the finance industry. With KYC financial institutions are keeping a tap on the malicious financial activities and boosting their anti-money laundering efforts. According to Statista, worldwide spending on identity verification is forecast to reach 18 billion US dollars by the end of 2027. For this very reason, organizations worldwide are investing in blockchain technology to speed up the identity verification or KYC process. Implementation of blockchain in finance sector opens up many possibilities to streamline operations and resolve critical challenges. Blockchain Technology for ... [ Read Detailed Article... ]
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