Blockpass, a regtech platform leveraging the use of blockchain, has announced its partnership with QTUM, an open-sourced public blockchain application platform.

Through this new partnership, Blockpass and QTUM will work together to support the space. This includes QTUM offering subsidies to specific members of the ecosystem looking to achieve regulatory compliance with On-chain KYC(TM) solutions.

QTUM leverages the security of unspent transaction outputs and combining that with EVM smart contracts. QTUM is secured by a Proof of Stake consensus algorithm and has a Decentralized Governance Protocol (DGP), allowing specific blockchain settings to be modified by making use of smart contracts, leading to potential options such as increasing the block size of QTUM without the need of a hard fork or innumerable other possibilities.

Meanwhile, Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC and AML SaaS that requires no integration or setup cost.

“We’ve known and been fans of the QTUM team and network for a long time and it’s great to have the opportunity to work closely with them. The QTUM network is innovative and we’re excited to be able to bring the benefits and possibilities of On-chain KYC to developers and users alike.

 

Bringing fast, simple and efficient regulatory compliance to QTUM creates more opportunities for everyone and spreads the phenomenon of On-chain KYC to an even wider audience.”

said Blockpass CEO Adam Vaziri.

Featured image credit: Edited from Unsplash