KYC Bootcamp – when the best gets better…

(and why we want everyone else to catch up)

Being ‘the first’ is a great, inspiring, scary, lonely and a whole-load-of-other-emotions things. Check out what Chapo Says about it right here.

As we set out Assure’s vision just over a year ago our ideas and aspirations were naturally formed from filling a void, addressing pain points, developing something real and tangible for project owners to derive benefit from and for investors to get a place of confidence in an industry with many dark corners.  As the last few months changed the market and its prospects for a whole lot of people…again, its even more apparent that trust, validity – safety – are top priorities for our growing DeFi and NFT communities; bear or (please, soon) bull market notwithstanding.

Over our first year we developed a whole lot within OUR business (**understatement** whispers the whole Assure team) and we also developed greater understanding about what it takes to be a leader in this space.  So when were developing V2 our vision and scope had grown outside Assure HQ and become a lot more about driving the whole community forward.

So, we’re fully and transparently sharing our growth and improvements, the processes we’ve gone through… and where we think everyone else should get to.  A robust, dependable, better, verification process across the DeFi space makes it better for everyone.  Check out the info on the Assure DeFi V2 upscale we’ve made and encourage everyone to make.

V2_Comparison.pdf

Addressing: Verification

We’ve talked a lot about knowing who holds the keys to the safe.

The biggest decision for a project owner is going through a KYC process that is reputable – and therefore marketable – without setting themselves up for a public dox at the first sign of an unhappy Twitter following.  You’ll see in the graphic we added an industry leading eight steps to our already robust verification process.  However, we made sure we did that with anonymity and safety in mind for project owners too.  Here’s how:

Our verification process in its entirety has been reviewed by our global legal partners ensuring that from the outset there is an actionable track to recourse should the worst happen.  Of course, this also works to attract legitimate project to KYC through Assure because of reputation – so it’s already becoming self-fulfilling.  We encourage everyone to do it.

We’ve worked really hard on the processes used to identify roles, and Project Control (Contract, Liquidity & Project Funds/Treasury) through live video with backup investigations in place through socials and offline substantiation.  Setting this up is costly, time consuming and has to be handled in the exact right way or the paying customer – the project – could find it an irritating, intrusive experience.  We encourage everyone to do it.

As part of the V2 rollout, all Assure DeFi verifications contain a Country Tier Rating based on the nationality of the verified parties (Tier 1-3) which is based on the law and regulatory authorities in every country – linking us firmly to the individual law enforcement agencies across the globe so that we can work to support them in the event of pursuit of bad actors.  In addition, the Tier Rating for each individual completing the verification process can be found on the dedicated project page along with other important information such as role & social media accounts as seen here> https://www.assuredefi.com/projects .  We encourage everyone to do it.

Chapo says “The market is tough right now – but KYC was never about a license to print money.  Its not a value add or a tick box – it’s one of the few real ways of legitimising the blockchain and increasing confidence in an industry that needs trust to grow. Our mission is big – we need everyone to be on board.”

Come back to take a look at the in-depth Fraud Pursuit Process we’ve unveiled and keep making yourself familiar with the leaps and bounds being made every day in the DeFi KYC space. We encourage you to do it.