Blockhain tech firm Crypto KABN has announce a patent application for an invention of a one-time verification process for token offerings.The Company has filed a patent with the USPTO for “the use of blockchain registries for validating personally identifiable information attributes.” The application increases efficiencies for ICO transactions by reducing the KYC / AML 'friction' of buyers constantly having to repeat KYC / AML for each ICO purchased and provides a whitelist for ICOs, bringing a greater number of qualified buyers to token offering.The patent filing comes ahead of the Consensus 2018 conference in New Yorkstarting May 14, where Crypto KABN will showcase its live program for ICOsand consumers. In March, the company launched ID KABN, a blockchain-enabledplatform offering a tokenized biometrically-validated KYC and AML for ID andcrypto wallets via mobile and online devices *that avoids customers havingto repeat processes to enter each new token offering**.*'Following our launch and the implementation of our platform for new ICOclients, the patent filing further propels us along our developmentjourney,' said *Ben Kessler, CEO ??” Crypto KABN. *'We are delighted we willbe able to exhibit our company at Consensus and interact with industryleaders interested in partnering with us. Our ID KABN software providescompanies offering tokens with a frictionless way to add biometric IDverification for KYC / AML compliance while our whitelist provides instantaccess to a growing database of token purchasers who don't have to re-up onKYC / AML each time.'ID KABN simplifies blockchain attestation, the process of validating thatinformation provided to support identification verification is truthful.Beyond KYC / AML, this technology can work with a host of industries,including credit card issuers, to minimize fraudulent activity using IDKABN's patent pending program. In 2016, credit card fraud worldwide totaled$24.71 Billion, according to an October 2017 Nilson Report.ID KABN provides consumers with an easy-to-use biometric identity and thirdparty whitelisted registries. Users can scan any one of up to 1,600documents from over 180 countries, which can then be validated and combinedwith personal biometric ID Keys, including face, fingerprint, voice print,video print and digital signature, to create a unique and immutable recordof an individual's identification.
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