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
User Registration: The process starts with users registering on Haven1 and providing the necessary personal details.
Document Submission: Users submit identity verification documents, such as government-issued IDs or passports along with biometric data
Third-Party Verification: Verification is conducted by top-quality, reputable third-party partners, ensuring accuracy and reliability.
Verification Outcome: Following verification, users are either approved or denied. Approved users proceed to receive hPassport
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.
Anonymity and Privacy
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.
ID Verification Policies on Haven1 Network
You can read through ID Verification policies here
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