Crypto KABN applies for biometric blockchain patent
14 May 2018 15:33 GMT

Blockhain tech firm Crypto KABN has announce a patent application for an invention of a one-time verification process for token offerings.

The Company has filed a patent with the USPTO for "the use of blockchain registries for validating personally identifiable information attributes." 

The application increases efficiencies for ICO transactions by reducing the KYC / AML 'friction' of buyers constantly having to repeat KYC / AML for each ICO purchased and provides a whitelist for ICOs, bringing a greater number of qualified buyers to token offering.

The patent filing comes ahead of the Consensus 2018 conference in New York
starting May 14, where Crypto KABN will showcase its live program for ICOs
and consumers. In March, the company launched ID KABN, a blockchain-enabled
platform offering a tokenized biometrically-validated KYC and AML for ID and
crypto wallets via mobile and online devices *that avoids customers having
to repeat processes to enter each new token offering**.*

'Following our launch and the implementation of our platform for new ICO
clients, the patent filing further propels us along our development
journey,' said *Ben Kessler, CEO ??" Crypto KABN. *'We are delighted we will
be able to exhibit our company at Consensus and interact with industry
leaders interested in partnering with us. Our ID KABN software provides
companies offering tokens with a frictionless way to add biometric ID
verification for KYC / AML compliance while our whitelist provides instant
access to a growing database of token purchasers who don't have to re-up on
KYC / AML each time.'

ID KABN simplifies blockchain attestation, the process of validating that
information provided to support identification verification is truthful.
Beyond KYC / AML, this technology can work with a host of industries,
including credit card issuers, to minimize fraudulent activity using ID
KABN's patent pending program. In 2016, credit card fraud worldwide totaled
$24.71 Billion, according to an October 2017 Nilson Report.

ID KABN provides consumers with an easy-to-use biometric identity and third
party whitelisted registries. Users can scan any one of up to 1,600
documents from over 180 countries, which can then be validated and combined
with personal biometric ID Keys, including face, fingerprint, voice print,
video print and digital signature, to create a unique and immutable record
of an individual's identification.

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