As COVID-19 is starting to resurface, governments and countries across the globe are reinstating health and safety measures to mitigate the spread. The year 2020 has seen the rise of digital alternatives for situations where physical meeting or close proximity is not possible.
Over the months, governments, people and corporations have realized that one technology offers a vast number of solutions: blockchain. With its high-end security, always online nature and efficiency, it has become the go-to choice for many. Paiblock is a global fintech firm that has created a digital wallet that allows people to connect their banks and other financial services, enabling them to send, receive and store their money from the comfort of their mobiles.
Integrating Government IDs
In its effort to provide more services that create ease of use, Paiblock has announced that it now offers individuals to digitally store their government issued identification cards, including driver’s licenses and even social security cards.
Paiblock also has created a special API called the OpenWallet, which allows governments to create support for not only the above mentioned cards, but biometric enabled passports, visas, e-invoices for governmental agencies, voter’s cards, different permits and even vaccination and medical records. Mark Arthur explained in an interview with TechBullion, the whole concept of integration of a whole financial system, identification and other services as a one stop solution to everyday needs,
“Paiblock is […] a companion dapp that is part of everyday life; starting with a cup of coffee on the go in the morning, earning cashback by going shopping places in the afternoon, without leaving the comfort of the couch, adding payment, loyalty and social security cards, sending money to friends and families; to finally checking a bank account status before heading to bed. All this is done without leaving the app. This makes Paiblock a lifestyle platform and that sets us apart from the competition.”
To help the adoption of the identity document integration, Paiblock has already started rolling out its services in different countries across the world. Governments of the following nations can now allow its citizens to digitally store all of their financial and identity credentials in a single, secure mobile app that is powered by blockchain: Austria, Australia Belgium, Brazil, Bulgaria, Canada, Croatia, Cyprus, Czech, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, India, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden UK and USA.
Citizens of these countries do not have to go through a complex process of shifting to digital identities. They can add their credentials in the following easy steps:
AI Powered Security
Paiblock understands that people might be apprehensive about giving all of their private and confidential information to an app. Based on blockchain, Paiblock assures of the highest levels of security of information. Furthermore, Paiblock has also leveraged artificial intelligence. Using these two technologies, the fintech company has been able to use a security called Zero Knowledge Proof. The security feature is being activated across all of Paiblock’s services. Once deployed, zero knowledge proof will allow Paiblock users to utilize services without ever revealing their confidential information such as passwords and ID numbers but still be able to access different online platforms and apps.
Mark further said that with Paiblock, user will not need to use different services, but just one app,
“We have increasingly automated end-to-end business processes, leveraging a decade experience in building organizational capabilities and talent to sustain continuous innovation and execution beyond initial proof of concept and business. As a result Paiblock users can interact with banks, stores, and governments without leaving platform.”
Paiblock is a Danish based firm that offers a utility wallet that seamlessly connects all the digital needs of a modern person in just on powerful app. Traditional banking, crypto and now digital identification means that a person can run his or her entire day through just a mobile.
With over 50 years of combined experience, the Paiblock team is well versed with technology, especially blockchain, machine learning and artificial intelligence, and financial systems. The firm is fully compliant with the Danish Financial Services Authority.
Although COVID-19 pandemic has not spared the blockchain fintech company, it has not lost steam. The firm continues to add more features and support for its users. Paiblock intends to reopen its delayed Series A funding next year, along with bringing more banks on board to allow people to not only open new banking accounts directly from their app, but also apply for loans and other banking services without ever the need of venturing outside.
To connect your digital lifestyle in one single place, visit the Paiblock website.
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