Enkidu Partners with Civic Technologies, Leading Blockchain Identity Technology Provider
World’s first blockchain-based programmable company platform partners with Civic to provide easy, secure, and reusable KYC services to platform users
Singapore, June 13, 2018: Enkidu, a blockchain-based global collaboration platform, today announced a strategic partnership with Civic Technologies Inc., the company revolutionizing digital identity with its blockchain-based technology. The partnership brings trusted, secure identity services to satisfy the Know Your Customers (KYC) requirements and enables Enkidu to verify citizens of its programmatic company platform that hopes to take on the Limited Liability Company structure, set to launch in August. An alpha is live at alpha.enkidu.io.
This partnership makes it easy for verified users to create an Enkidu “company.” In most parts of the world, starting a company requires multiple rounds of ID verification. With Civic’s Reusable KYC, Enkidu’s users can reuse their identification information on the Enkidu platform without having to import and verify data multiple times. The full verification process occurs within the Civic Mobile App, protected by biometric and blockchain-powered security, ensuring users a safe and trusted environment. In this particular case, Enkidu’s utilization of Civic on their platform is quite akin to a “decentralized e-Residency” that countries like Estonia provide netizens.
Varun Mayya, the CEO of Enkidu is all praises for Civic saying, “Civic is the logical choice for the Enkidu Platform. The reusable KYC solution pretty much takes on the heavy lifting of verifying potential founders on our company creation platform.” Shashank Udupa, the COO of Enkidu echoed Varun’s statement saying “This collaboration is great news for Enkidu. Civic provides enterprise-grade security and their KYC procedure is seamless.”
“We are pleased to welcome Enkidu to Civic’s Partner Network. Enkidu is leading the development of blockchain-powered, smart contract technology, and reliable, reusable identity verification is a critical component for propelling smart contract adoption. Collaborating with Enkidu marks another milestone for Civic’s ecosystem and for on-demand, secure, and low-cost access to identity verification services, as well as ensuring Enkidu’s global collaboration platform is more efficient and more secure .” said Civic Co-Founder and CEO, Vinny Lingham.
Utilizing Civic’s Reusable KYC services, Enkidu users can easily scan and verify their identity documents before creating or joining an Enkidu “Company.” Since the verification needs to be done only once, this reduces the overhead costs related to compliance and fraud prevention. The information shared by the user is securely saved using high-level encryption and biometric locks. More importantly, the information authenticated by a trusted institution can be reused on other platforms with the permission from the user.
Enkidu is a global programmatic company platform that allows individuals to collaborate globally, perform seamless payment splitting amongst team members, and pass programmatic board resolutions. Creators can find like-minded collaborators and team up to build and launch a monetizable product or service at close to zero costs, with a 0.5% transaction fee on every incoming payment. Enkidu platform is similar to a Limited Liability Company and handles most edge cases – including employee stock ownership plan (ESOP), dividend policy, share classes, and more. Enkidu has successfully raised 1,311 ETH in their recent pre-sale and private sale.
Civic is a visionary blockchain identity-verification technology that allows consumers to authorize the use of their identities in real time. They are spearheading the development of an ecosystem that is designed to facilitate on-demand, secure, and low-cost access to identity-verification services via the blockchain. Civic recently introduced a Civic token that participants in the ecosystem will use to provide and receive identity-verification-related services. The company sold $33 million of its tokens during its token sale event in June 2017.
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