How Ydentity influences online investment, banking, and credit
Ydentity is a unique offering brought to you by Bright Nation Limited. The Ydentity token is a tradable application program interface (API). The Ydentity token is an identity constructed around a scientific assessment of the individual user’s risk habits. A series of 30 ‘yes/no’ questions presented to the user randomly from 300 questions allows the system to categorise each user into one of three risk profiles: risk-averse; risk dependent; and risk seeking.
The Ydentity risk profile token could provide a new underwriting instrument for several markets including but not limited to insurance, investment, social networking, dating, and gaming.
So, how does Ydentity help the investment and banking sector?
The principle is based on matching the investor risk-profile to the investment risk level.
• The Ydentity app will also provide a matching process of the profile strings as an advanced service available to members with a full subscription.
• The Ydentity member may then initiate the transfer of the Ydentity token to the financial partner’s platform via a messaging app or email;
• The financial partner then receives the Ydentity of the user and can submit an investment proposal compatible with the Ydentity member profile;
• In the case of an unsolicited proposal, the member may ask the proponent to become a supplier to the Ycommunity;
• When the Ydentity member is satisfied with the proposal, they can then decide to engage and complete the process of onboarding.
This helps in securing the identity of the user while giving a clear insight into the user’s risk-profile to the financial institutions. Ydentity aims to revolutionize the concept of digital identity with the invention of the risk-identity token. The use of blockchain technology can represent Ydentity as a private key, which in turn is subject to defence grade KYC and cybersecurity standards. Know more about this innovative project here:
