Personal Users

Problems

a. Wait time for KYC for private users - Documentations to upload, await approval 24-48 hours before initiating transaction.

b. KYC as prerequisite for marginalized users - There are communities in poverty line who need to generate income through legitimate means (giving products and services in exchange for crypto as payments) but presently fall short by KYC to proceed for their self-upliftment.

c. Merchant country restriction - Centralized platforms are prone to delay or reject signup approvals for users in restricted countries - pushing their citizens further into the brink of working/business opportunities and eventual tendencies to get involved in criminal activities in a struggle to live.

d. Control on user fund - Users have come to realize that if they transfer the funds to a centralized/platform owned wallet - and the custody, terms of usage, period of withdrawal is governed by the platform - their funds are not their own anymore. This is considered a breach in the purpose of existence of cryptocurrency.

e. Cross-chain interoperability - Most services running by providers operate on a single blockchain, and hence live in isolated ecosystems. Isolated systems defeat the purpose of the existence of blockchain. Interoperability of one’s own assets amongst their preferred set of services from different providers will be compromised. As a consequence of distributing crypto assets between these isolated blockchains, there are high transaction fees.

Solutions:

a. DeFi protocol - No signup process. No KYC required. Instantly proceed for crypto collection/trading on the basis of individually preferred identity.

b. DeFi Wallet - Wallet of the user is only linked to the platform, storage & security custody is completely with the user.

c. Integration with 11 blockchains - Blockchain interoperability makes it possible for people to transact on other blockchain ecosystems without risks of loss of capitals. When used in a business setting, businesses will no longer have to transact only with clients on a network the business has built on. Instead, companies will be able to transact with clients from other compatible blockchains. The entire process will take place without any fear of risks or expensive transaction fees.It also makes it possible for people and entities to exchange various digital assets across different blockchains.