IHS Markit Teams With Cambridge Blockchain for Improved KYC Functionality
The pairing was spurred on, in part, by the looming General Data Protection Rule, which is due to go into effect in Europe later this year.
Matthew Commons, chief executive of Cambridge Blockchain, tells WaterTechnology that his company’s software is set up to store, share and validate IHS Markit’s data.
The traditional way to handle know-your-customer (KYC) compliance is through a hub-and-spoke model, where all the information is fed into a centralized utility. Commons contends that by having a distributed ledger underpinning the system, it’s less costly to connect multiple different identity validators and the customer can have
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