Authors - G.B. Sambare, Sankarsha Shelke, Sahil Wawdhane, Harshad Wable, Abhinav Thube Abstract - The KYC Powered by Blockchain for decentralized, secure, and more efficient Know Your Customer (KYC) system using blockchain. This system solves the inherent inefficiencies of traditional KYC by allowing institutions to share validated customer data, mitigating redundancy among KYC providers, and reducing both costs and compliance time. Tamper-proof architecture of blockchain allows for strong data privacy, security, and compliance of AML and GDPR regulations. Customers gain full control over their personal data, with the ability to grant and revoke access dynamically, reducing risks of breaches and fraud. The framework integrates off-chain storage for sensitive data and combines advanced cryptographic methods like AES and ECC for encryption and security. Smart contracts automate data handling and permissions management, ensuring secure, transparent, and immutable data sharing across institutions.
