How Blockchain Can Fight Fraud Based on Know-Your-Customer Data

2-18-2

As the cost of retail fraud grows year-over-year, merchants are constantly looking for ways to tackle security challenges and reduce their liability burden. Blockchain technology, with the ability to create secure digital wallets, offers intriguing potential solutions. Know-your-customer regulations were designed as a due diligence to prevent financial institutions and individuals alike from fraudulent transactions.

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