Use cases

Identity & KYC

Organizations and institutions dealing with identity are a part of a complicated and extensive field. Identity is most often tied to a KYC record (based on an ID or passport), which in itself is a very sensitive and demanding mechanism.

By introducing NFTs, identity can become a much larger system of identification or even self-sovereignty. Depending on the model, NFTs from different areas can be used together to provide some form of identity. We can further introduce such identities in frictionless systems where no sign-in is required since the identification is already present in a digital wallet.

Example implementation

To demonstrate the use of the blockchain in KYC and identity records, we used the ERC-721 non-fungible identity tokens in our 0xcert crowdsale - a pioneer application of non-fungibility for identity verification and an added layer to the security of an ICO process.

More use cases can be introduced by applying the example implementation of the 0xcert Framework: