Understanding the ID Verification Process

This page offers a detailed understanding of identity verification and the utilization of hPassport. This framework is integral to Haven1's strategy for ensuring security and protection preventing illicit activities through strict user verification.

Step-by-Step Guide to Identity Verification in Haven1

  1. User Registration: The process starts with users registering on Haven1 and providing the necessary personal details.

  2. Document Submission: Users submit identity verification documents, such as government-issued IDs or passports along with biometric data

  3. Third-Party Verification: Verification is conducted by top-quality, reputable third-party partners, ensuring accuracy and reliability.

  4. Verification Outcome: Following verification, users are either approved or denied. Approved users proceed to receive hPassport

  5. Issuance of Proof of Identity NFT: Verified users receive a non-transferable Proof of Identity NFT into their Web3 wallet, uniquely linked to their identity. This NFT is referred to has hPassport

Role of hPassport

  • Unique Identity Token: Verified users are issued ahPassport NFT in their digital wallet, signifying their verified status on the blcokchain.

  • Transaction Authentication: Validators use anonymized data from these NFTs for transaction cross-checks, ensuring users comply with requisite KYC/AML restrictions.

  • Verified User Transactions: Only users with a Proof of Identity NFT can execute transactions, enhancing security and regulatory adherence.

  • Regulatory Compliance and Asset Withdrawal: If users encounter regulatory issues, they can withdraw assets, albeit with restricted transaction capabilities.

Verification Standards and Privacy

  • KYC/AML Compliance: The verification aligns with global KYC and AML standards, conducted by reputable third-party services.

  • No On-Chain Storage of KYC Data: To ensure privacy, KYC and verification data are never stored on the blockchain.

  • Regular Updates for Regulation Alignment: The verification process is regularly updated to comply with evolving regulations.

  • Data Encryption and Privacy Policies: Personal data is encrypted, and Haven1 enforces strict privacy policies for data handling and storage on its partners.

Last updated