The KYC Verification System Using Blockchain

Know your client or essentially KYC is the prepare of approving and confirming the personality of its clients and analyzing potential dangers of illicit eagerly for the commerce relationship. A few issues with the existing manual KYC prepare are that it is less secure, time devouring and expensive. With the appearance of Blockchain innovation, its properties such as unchanging nature, security, decentralization make them a great arrangement to such issues. Whereas commercial arrangements like “kyc-chain.com”, “KYC.legal” right to empower blockchain- based KYC confirmation, it gives a strategy for archives to be approved by a trusted member in the arrange. In this work, Ethereum based Optimized KYC Blockchain framework utilizing symmetric AES encryption-based compression instrument is proposed. This framework guarantees straightforwardness by conveyed record, secured by cryptography, productive by compression calculation and in general optimized by blockchain highlights. Keywords: Blockchain, Ethereum, KYC, Compression, Encryption, DLT