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Currently, data owners must repeatedly provide verified data (e.g., KYC info) whenever they interact with different third parties, both in physical and digital settings (e.g., banks or telecom service providers). For instance, a user opening an account at Bank A must complete a KYC verification. If that user then engages with Bank B, a similar time-consuming and costly KYC process must be repeated. A typical reusable verified user data flow on T3N can look like this:
  1. You (i.e., data owner) store your private user data once in T3N.
  2. A trusted issuer, a reputable and verifiable organization, issues you a verifiable credential that attests to specific user claims within the credential.
  3. When a relying third party needs to verify you, you share that credential rather than uploading raw documents again.
Examples of reusable verified user data:
  • Reusable KYC information.
  • Proof of accredited investor qualification.
  • Academic degrees and professional licenses.
  • Loyalty program membership.
  • Vaccination records.