🆔hPassport - Key to Haven1

hPassport is the key to Haven1 ecosystem. By verifying your identity once you get to explore several novel Web3 applications as well assures that all actors on the chain are safe.

Haven1's Passport framework provides security measures against illicit activities by enforcing user identity verification for transaction execution. Additionally this allows applications to personalise the user experience based off anonymised bits of information available on the hPassport

Successful ID verification mints hPassport

Once users complete the verification process, they will receive a non-transferable proof of identity in the form of an NFT (Non-Fungible Token), which will be stored in their digital wallet. This NFT is your hPassport. Each NFT is unique, meaning that a real-world identity can only be associated with a single NFT.

Here's a breakdown of its functionality:

• Applications can reads anonymised user data stored on NFT to personalise the user experience

• Validators ensure that all transactions are sent by users who have this NFT. Transactions initiated by unverified users will not be processed.

• In situations where users encounter sudden regulatory restrictions, they will have the ability to withdraw their assets, but their transaction capabilities will be limited.

• Applications building advanced regulatory use cases can also seek user consent to obtain selected user data that is not available on the NFT such as user age in which case the age obtained from ID document will be shared with the applications.

You own and control your identity data

• Your data is encrypted before storage and will never be shared without your explicit consent

• Your on-chain transactions remain anonymous and cannot be linked to your identity unless you explcitly consent to share it with an application

Use Cases

• Lending Markets with Real-World Credit Scores: Haven1 can enable the development of lending markets that leverage real-world credit scores, enhancing trust and reliability in lending transactions, by using hPassport.

• Real-World Asset Integration: The platform facilitates the integration of real-world assets into the blockchain ecosystem. This includes creating investment vehicles tied to real estate, where NFTs can represent property ownership, bridging the gap between physical assets and digital tokens.

• Tokenization of Assets: Haven1 supports the tokenization of various assets, including securities and bonds. This allows for their digital representation, significantly improving the efficiency of global exchanges and settlements by making these assets more accessible and transferable on a global scale.

• Prediction Markets Prediction markets have found a strong product market fit our crypto native users. These applications can now ensure that their users are of a legal age to access their application and do not belong to high risk jurisdictions