Traditional methods for Know Your Customer (KYC) verification are plagued by inefficiency, high costs, and lengthy procedures. These issues stem from a lack of standardization, leading to unreliable fraud detection, delayed processing, and increased expenses. To overcome these challenges, the emerging field of blockchain technology offers promising solutions. Blockchain enables the creation of a secure, distributed ledger system that can store and manage customer information in a way that is both auditable and tamper-proof. This technology can help financial institutions address the inefficiencies of traditional KYC processes, enabling them to verify customer identities more efficiently, securely, and cost-effectively.
Try running some of the following tasks:
npx hardhat help
npx hardhat test --network hardhat
REPORT_GAS=true npx hardhat test --network hardhat
npx hardhat node
npx hardhat run deploy/deploy.js