Blockpass, the digital identity verification platform, has a planned collaboration with Beam, a scalable, confidential blockchain and cryptocurrency based on the Mimblewimble protocol.
This partnership is intended to bring the two companies together to work on their mutual goals of providing user-centric solutions that put privacy first. Blockpass and Beam will collaborate on researching the ways of integrating Blockpass' KYC solutions into the future versions of Beam wallet for business users, eventually allowing business users to opt-in for this feature if they choose so, thus making a step towards opt-in compliance.
Headquartered in Hong Kong, Blockpass is a leading RegTech and Compliance business which provides digital identity verification as a service. Through its vast network of partners, Blockpass is creating an ecosystem of pre-verified customers for easy and seamless customer onboarding for any regulated business and industry. Blockpass aims to provide a solution which puts the user back in control of their data and is working with the Blockpass Identity Lab in Edinburgh Napier University to develop technology such as zero-knowledge proofs and homomorphic encryption that could eventually see the need for users to show their personal details eliminated.
Beam is a blockchain and cryptocurrency developed using the Mimblewimble protocol to create a scalable and flexible solution which puts privacy first - with no information about transaction participants being stored on-chain. The platform's "Scriptless Script" technology enables a range of transaction types to take place, including escrow and atomic swapping. Beam's vision is building a cryptocurrency that combines complete confidentiality with opt-in compliance, allowing both business and personal uses of the currency without compromising the privacy in any way.
"When we were creating Blockpass we knew that the privacy-centric goal of cryptocurrencies and blockchain - putting control back in the hands of the user - was the future. At the same time, we realized the importance of regulatory compliance. This is what drove the development of a user-centric, user-controlled Blockpass identity we believe will underpin every aspect of interaction with the blockchain ecosystem," said Adam Vaziri, CEO of Blockpass. "As a company whose ideals match our own so closely, we are excited to work with Beam to enable a safe, secure and confidential space for users to transact and interact, and to develop new and innovative use cases for this collaboration."
Alexander Zaidelson, CEO of Beam: "At Beam, we want to give users full sovereignty over their funds and over their information. That means that users should be able to decide for themselves whether they stay completely confidential or disclose their information to designated 3rd parties. Wallet KYC may be a desirable feature for business users, and we are glad to partner with Blockpass on this."
Blockpass continues to work on expanding its uses and features, with multiple partnerships announced this year, including Waves, Tokenomica, the BBFTA and Ethfinex. There have been a number of updates to the app, with the most significant seeing the release of Face Match Certification. The partnership between Blockpass and Edinburgh Napier recently saw its six month anniversary and the work being carried out at the Blockpass Identity Lab will see improved privacy for the user as solutions are developed. The Blockpass App is available to download from the App Store and Google Play.