Blockchain
Oasis Labs, the privacy-focused cloud computing agency and Equifax introduced a brand new partnership on Wednesday.
Equifax’s id, fraud, and compliance information — which powers its client credit score studies software program — will likely be utilized by Oasis Labs to energy its decentralized id administration and KYC product. As we speak’s partnership will enable the Oasis Community to hold out KYC due diligence and monitoring.
Equifax has extremely credible and dependable information in addition to being an innovator within the monetary service house, Professor Daybreak Tune, founding father of Oasis Labs, mentioned, earlier than including, “that can assist drive extra belief in utilizing blockchain know-how for actual use circumstances.”
Because the world of web3 continues to evolve, so does the necessity for id administration and KYC options to assist cut back danger and instill confidence in on-chain transactions, Pleasure Wilder, U.S. info options CRO and senior VP of worldwide partnerships at Equifax, mentioned.
Whereas Equifax is among the most well-known client credit score reporting corporations within the U.S., it has come beneath scrutiny prior to now. In 2019 the agency was ordered to pay as much as $600 million to settle federal and state investigations right into a 2017 information breach of non-public info that affected nearly half the nation’s inhabitants.
