Yug Wallet : Web3 tool with all compliance features
Bringing offchain behaviours to onchain
Each wallet user is KYC verified by an approved regulated entity - Banks, Utility Bills, Passport. After completion of KYC a non transferable KYC token is sent on blockchain.
Gated access to decentralized apps
Different access tokens required for access to certain content (violence, gore) on decentralized games and apps.
Private membership tokens
Exclusive membership tokens for clubs, exclusive merchandise for Web3 ecosystem
Encrypted documents
The KYC records are encrypted and recorded on decentralized storage (IPFS). The KYC is only accessible by the user
On demand access
Any third party can request the KYC data for a wallet. The user can grant access to the KYC, in whole or in part by generating a limited use private key on demand.
On-chain Risk Score
This is where we take it to the next level !
Each wallet user will be given a risk score. This is like a FICO type score, which determines the risk of doing business with a counter-party
Risk score will be based on KYC, Bank Verification, Sanctions checks, completed transitions and other parts of user behaviour
The Risk Score is the property of the wallet user, they control who can see it in whole or part
FATF Travel rule compliant
With Yug Network, transactions can only take place between two KYC’d wallets.
For transactions subject to the Travel Rule, the Wallet User KYC data is linked with each transfer identifying the sender and the receiver.
Compliant And Transaction data is recorded on the blockchain and immutable.
