Digital KYC: Efficient & Secure
Blockchain Technology Enables
Secure Digital Documents
Learn how our technology can replace the pain and cost of paper-based KYC, while improving information integrity through digital chain of custody control
Digital Chain of Custody Control Explained
How It Works
As with certified hardcopy documents or scanned-and-emailed certified copy documents, digitally certified documents begin life when a true copy of an original document is certified by approved person having commonly accepted certification credentials through commercialpassport.com's document certification platform.
At the moment the certifier completes the in-application document certification protocol, a unique digital fingerprint of the certified true copy document is taken and written to the blockchain. The certified true copy document is stored in encrypted format.
Using commercialpassport.net, desktop software or free services available on the internet, a recipient of a Commercial Passport user's document can also take the document’s digital fingerprint and check it against the blockchain. If the document is genuine, the date of certification will be confirmed by the blockchain. If it has been altered or forged, it will not.
commercialpassport.net can also confirm details of the document’s origin and chain of custody, and full particulars of its certification, including by whom it was certified, their credentials, physical location, time and date and the attestations given by the certifier. Metadata of a document’s origin, chain of custody, and particulars of its certification, including certifier details, credentials, physical location, time and date and the attestations given is maintained in perpetuity. Together with the corresponding blockchain record this information creates high integrity digital documents whose security features and rich data set exceeds that of paper copies.
Digital KYC Acquisition Compared
|“wet ink” certified paper copy||Scanned and emailed PDF of certified paper copy||Commercial Passport Secure Digital Documents|
|Document format||Paper only||Electronic (PDF)||Electronic (PDF)|
|True copy certified by||Notaries, attorneys at law, and other accepted credentials||Notaries, attorneys at law, and other accepted credentials||Notaries, attorneys at law, and other accepted credentials|
|Chain of custody control||None - counterparty has custody until receipt||None - counterparty has custody until receipt||Full chain of custody control|
|Certifier’s identity is verified||Dependent on receiver action||Dependent on receiver action||Yes|
|Certifier’s credentials checked & monitored||Dependent on receiver action||Dependent on receiver action||Yes|
|Certification process details available to recipient||No||No||Yes|
|Recipient document acquisition metadata||Typically not generated||Email system dependent||Permanently logged|
|Certifier must attest to seeing original document||Depends on receiver instructions||Depends on receiver instructions||Yes|
|Certification process standards||Depends on receiver instructions/local regulation||Depends on receiver instructions/local regulation||Yes, enforced & audited|
|Point-in-time existence verifiable||Not possible||Not possible||Yes, via open blockchain query|
|Post-certification tampering or falsification control||No control, moderate risk||No control, high risk||Controlled via open blockchain query, zero risk|
|Environmental profile||Worst practice, wastes paper, generates C02 emissions for delivery||Poor practice, wastes paper||Paperless, best practice|
|One click automatic updating||No||No||Yes|
|Meets regulatory obligations||Yes||Often not||Yes|
|Cost for sender||Highest||High||Lowest|
|Cost for receiver||Highest||High||Lowest|
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