What is Clears?
Clears is a fully customizable, data-less KYC solution, that guarantees a business’s compliance with local and international regulations. By leveraging the power of the blockchain, Clears can conduct timely, legitimate, and inexpensive user verification, while maintaining the security and privacy of their sensitive data. Clears stores a hashed copy of user’s data inside the Ethereum blockchain while the actual data is kept secure inside a cold storage system, available in case of audit. This eliminates the most prominent points of user anxiety; hacks, identity theft, fraud. As Clears only holds onto the recorded hashes to cross reference user ID’s when verifying, no personal data will ever remain in our databases once the KYC is completed. In the case of audit by regulators, Clears can provide the original documentation by extracting the documents from the cold storage server. Users can uses their Clears credentials on all KYC’s using Clears, giving them a private, secure and convenient experience online
How it Works:
User completes an initial KYC with Clears,either on the Clears site or with an organization utilizing Clears
Clears logs the usersand provides a unique KYC certificate stored inside the blockchain.
The user can simply provide their Clears credentials when they encounter a future KYC
What Does It Mean To Be A Data-less Solution
Since Clears doesn’t keep any personal information about its users in an online database, there is no data to steal, resell or tamper with.
Why is Clears secure?
Each KYC is encrypted and hosted by Clears. No data is shared with/by anyone. We certify that the KYC has been completed and we act as an escrow for personal data between the user and the company doing the KYC. A hash of the data is stored daily in the blockchain to ensure data integrity.Data hashes for users can be securely stored inside the blockchain since there is no possibility of decryption because the data stored in the hash is not actual data, but a representation of data. When we hash the data we also encrypt it before. That way, even for small strings of data, brute force attacks are useless.
We’re excited to offer a turnkey KYC solution that provides significant efficiency and security for both users and organizations.