SINGAPORE, May 17, 2018 – ENDO Protocol, the increasingly renowned decentralized certified data verification solution, has today announced the platform’s technical readiness to fully integrate internationally recognized Know Your Customer (KYC) and Anti-Money Laundering (AML) policy services, as well as entire information databases of universities and archives worldwide. Interoperability of the ENDO Protocol and such services and institutions promises to change the certified data verification industry.
Today, businesses, government, and educational institutions, as well as individuals are being increasingly challenged by certified data verification issues. These include matters not only related to hacking and data loss risks, but also due to the fact that data is not protected against information substitution, deletion, and modification without encryption and decentralized storage.
Moreover, increasing problems are connected to the matter that verification processes differ in scope and type of data, as each agency, state government or institution have their own mechanisms for verifying information, different deadlines, and different methods for filing and filling documents (which also leads to unnecessary costs, including the certification of translations). Even if data is confirmed and easily verified, the information itself is transmitted throughout completely different channels and is collected from different sources, which is time- and, frequently, money-consuming. When data is not standardized, its further usage becomes more complicated.
ENDO Protocol solves certified information tracking and encrypted data storage issues and aims to create a single secure environment for various kinds of important data. All personal, corporate and publicly available information about education, identity, medical records and the like can be controlled through the ENDO Platform, at the same time guaranteeing the privacy of personal data, by providing protected access to stored information to third parties of one’s choice.
The Alpha version of the first ENDO-based application has already been launched and successfully operates with some of Europe’s largest coaching, shipping companies, and universities. Basic functions that are available to clients include the creation and publication of documents in trial networks, cancellation procedures, distributed document confirmation, upload and allocation, as