The online payment space is growing rapidly and with it the need for trust and security. KoreConX has launched KoreID Verified to bring that trust to online investing. With this new seal, transactions are safe and reliable inside KoreChain, a decentralized permission-based blockchain technology designed to protect individuals, streamline online investing from primary to secondary, and provide confidence. The KoreID Verified now extends this trust and security to banking and payment rails.
Ensuring Secure Transactions
KoreID Verified assures transactions are safe and reliable inside KoreChain. It is immutable and can be used with any digital assets, such as NFTs, stablecoins, digital securities, and digital tokens. All current KoreClients already have access to the KoreID Verified component once they are already part of KoreConX Infrastructure of Trust. The KoreID Verified works as an extension of the KoreID, launched in September 2022.
With the KoreID online passport, it enables easier access to investing and avoids the need to re-fill online forms in regulated environments. Wherever an individual sees the KoreID icon within the compliant KoreConX ecosystem – a company investment website, an SEC-Registered funding platform, or a broker-dealer website – the regulated investment forms can be filled in almost instantaneously.
New Era in Digital Payment
Dr. Kiran Garimella, Chief Scientist and Technology Officer of KoreConX All-In-One Platform, believes the KoreID verified can set a new standard in digital security while transacting online: “We enabled the use of blockchain to manage user information with KoreID. Now we can expand the use of technology to other regulated environments. Not only the individual, as an investor, has access to this passport, but companies and broker-dealers have easy and reliable banking with added protection to all possible payment rails”.
This level of trust and transparency is something much-needed within this environment to better protect investors and companies who are raising capital compliantly.
How KoreChain Works
The KoreChain is a highly secure environment, with recourse for faulty transactions and secure custody of all digital assets. This makes it less appealing to crypto thieves and bad actors. The KoreChain is highly scalable with high throughput and minimal economic waste or environmental impact. It is also supported by artificial intelligence for data analysis, governance, risk management, and compliance. The proprietary blockchain technology also integrates with the KoreConX functional All-In-One platform for portfolio management, cap table management, shareholder management, equity management, issuance management, and capital markets.
KoreID Verified is just one way that KoreConX is working to streamline online investing and make it more secure. KoreID Verified allows companies to focus on their operations and investors to focus on their portfolios, knowing that all processes are compliant and secure. With KoreID Verified, the user’s identity is verified with government-issued IDs (KYC), and the user’s digital footprint is used to assess risk (AML). As a result, allowing only verified and compliant individuals and entities decreases fraud and increases trust in the system.
