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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 incentive 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 roadmap for 2022.

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This article does not include elements of any contractual relationship. This article shall not be deemed to constitute a prospectus of any sort or a solicitation for investment or investment advice; nor does it in any way pertain to an offering or a solicitation of an offer to buy any securities in any jurisdiction.

For the avoidance of doubt, please note that the Protocol has not been fully developed. Any statements made about the Protocol are forward-looking statements that merely reflect Fractal’s intention for the functioning of the Protocol. There are known and unknown risks that can cause the results to differ from the forward-looking statements.

Fractal does not intend to express investment, financial, legal, tax, or any other advice, and any conclusions drawn from statements in this article or otherwise made by Fractal shall not be deemed to constitute advice in any jurisdiction.

Fractal’s intended purpose of the Tokens is to be used as means of payment for the services that will be offered within the Protocol (the “Services”). The purchase, ownership, receipt, or possession of Tokens carries no rights, express or implied, other than the right to use Tokens as a means to enable usage of Services in accordance with the then-applicable terms of use relating to the Services offered within the Protocol. The Tokens do not represent or confer any ownership right or stake, share, security, or equivalent rights, or any right to receive future revenue shares, intellectual property rights, or any other form of participation in or relating to the Protocol, Fractal, Service Providers or any of their corporate affiliates, other than any rights relating to the provision and receipt of Services, subject to the applicable terms, conditions or policies that may be adopted by participants in the Protocol.

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