Aleph Zero Partners with Fractal for an Effortless KYC & Onboarding Experience for its Contributors: A Case Study.

Aleph Zero is a privacy-enhancing proof-of-stake public blockchain with instant finality. This allows independent developers as well as enterprises to build decentralized projects that benefit from the speed and security of a public Distributed Ledger Technology (DLT) platform while still being able to preserve the privacy of their transactions.

Challenge

To launch private and public contribution rounds, Aleph Zero wanted to conduct effortless KYCs to optimize their conversion rate by ensuring contributors’ uniqueness and identifying risk factors.

As an organization aiming for global reach, Aleph Zero’s KYC needs were also global, requiring 24/7 support and a quick KYC API integration, so they reached out to Fractal because of our multifaceted experience in handling global KYC requirements.

Solution

Aleph Zero partnered with Fractal to:

• Ensure that Aleph Zero’s compliance requirements are met by asking contributors to validate the following:
  ID document;
  Proof of Residency;
  Liveness and Face Match;
  AML<>PEP.
• Facilitate the contributors’ onboarding process by providing real-time 24/7 support to contributors via email and Telegram channels to ensure all their questions are answered. This for example enabled contributors to reach out to Fractal to ask questions about Aleph Zero’s projects, verify their credentials, and receive approval to participate in the public sale.

Results

In a time span of only two weeks, Fractal received 11.565 applications, of which 85% met the compliance criteria, and were approved.

By outsourcing KYC processes to Fractal, Aleph Zero ensured an effortless KYC and onboarding experience for their contributors, kept their rounds safe, and was able to raise $10M through their private and public contributor sales.

We’ve chosen Fractal as a KYC partner due to their proactive approach and out-of-the-box problem-solving skills. Fractal team has been in touch with each one of our contributors, answering their questions and supporting them to have a smooth due diligence process.

Antoni Zolciak, Aleph Zero COO

About Aleph Zero

Aleph Zero is a Proof-of-Stake public blockchain. We combined an original, aBFT consensus protocol with a customized Substrate stack. Currently, they’re working on enhancing the platform with a privacy framework based on Zero-knowledge Proofs (ZKPs) and secure Multi-Party Computation (sMPC) to empower developers with a unique approach to private smart contracts. Interested to learn more? Join their community on Telegram.

About Fractal

Fractal’s mission is to empower and incentivize users & businesses to exchange data in a privacy-preserving way so that the balance of power and control between web platforms and their users is restored. Find out more in our product spectrum and roadmap for 2022.

If you are interested in exploring how KYC and decentralized identities (DIDs) can help you and your business, reach out to sales@fractal.id or book a meeting with our team.

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