FOIL NETWORK- DIGITAL ID.
FOIL Network is a blockchain-based platform designed to provide users with the freedom and privacy of the Internet, while ensuring compliance in the global financial system. FOIL Network provides the possibility to have a verified anonymous account and a verified digital ID account in a single wallet. Thus, AML/KYC can be easily performed, recorded and maintained on the blockchain.
In other words, the Foil Network digital ID replaces the traditional proof-of-ID methods and allows for users to own their personal data, keeping it more safe than traditional methods. The platform technology is secured by on-chain identity verification, allowing for there to be a verified anonymous account and a verified digital ID account in a single wallet. Thus, AML/KYC can be easily performed, recorded and maintained on the blockchain. The method of KYC verification:
1) Passport HTML5 document scanning (including passport images and selfie)
2) Document verification with DL/ID Mobile SDK from Mitek Systems
3) Geolocation by Google Places
4) Wallet address verification.
Furthermore, FOIL Network Digital ID provides delegated, on-chain identity verification solutions for banks, financial institutions, blockchain platforms, and merchants. FOIL Network services include KYC (Know Your Customer) to make sure that digital IDs meet regulatory requirements and AML (Anti-Money Laundering) to help identify and report suspicious activities to the appropriate authorities. It also provides a seamless solution to easily confirm your “Know Your Customer” and “Anti Money Laundering” status on the blockchain. For customers, it provides an opportunity to own and control one’s private data via the smart contract, transparently confirming one’s identity upon request.
Users can control and manage their data on the platform. Personal information is stored securely and only solutions that provide access to their profile are presented to the end user.
The FOIL Network/FOIL Token is an open-source, permissionless blockchain, with the X13 mining algorithm and 100% proof of work needed to secure transactions. By creating a digital ID profile with FOIL, it is possible to prove your identity by linking the unique number generated from the FOIL app on your mobile device to the blockchain explorer through a specific transaction that has been signed with your private key on the FOIL token.
It should be noted that FOIL Network is a platform for the creation of valid, reliable and protected data for individuals. It also provides a blockchain-based identity verification service that can connect a person (cryptographically verified account) with any kind of digital data. With an authenticated identity certificate, it's possible to create and access specialised services such as websites, ICOs or exchanges. You decide which data is displayed and which is hidden from the system.
In conclusion, FOIL Network is a secure, decentralized blockchain network offering easy-to-build tools and services focused on privacy and individual data control. FOIL Network aims to offer anyone who wants to use it an opportunity to build an identity by providing digital verification tools. The team has developed and plans to launch multiple applications which they believe will help disrupt the market.
Stay Tuned With Us At;
Email: foilteam@foil.network
Twitter: https://twitter.com/FoilNetwork
Medium: https://medium.com/@foilteam
Instagram: https://www.instagram.com/foil.network/
Discord: https://discord.gg/MYHqPn3qkW
Gitlab: https://gitlab.com/FoilNetwork
Reddit: https://www.reddit.com/r/FOIL_Network/
Facebook: https://www.facebook.com/FOILNetwork
