Centralized identity management systems are beset with many challenges that make them prone to various security and administrative complications.
Therefore, transporting such information when needed, sometimes internationally could become cumbersome and time consuming.
The difficulty presented bycentralized platformsin linking data makes the national and international implementation of KYC laws cumbersome to apply.
Major services at both local and international levels rely on KYC implementation for execution.
Just for functionality
However, unlike certain Internet companies, the SelfKey foundation is nonprofit.
This helps with both security and compliance with jurisdictional privacy law requirements.
source: www.techworm.net
