Winding Tree launches ORGiD Bot, streamlining digital identification verification between blockchain companies » CryptoNinjas


Winding Tree, the Ethereum-powered journey distribution channel, has introduced the launch of ORGiD Bot, an open-source registry that gives real-time identification and verification of firms and their representatives. ORGiD Bot is a dynamic answer to the rising risks of identification theft and impersonation. By leveraging blockchain, Winding Tree has discovered a technique to provide fast and seamless identification checks for blockchain and crypto firms. You’ll be able to talk with ORGiD Bot on Telegram, below the deal with @orgid_bot.

Phillipe Christodoulou thought he was downloading the app for Trezor, the maker of the well-known cryptocurrency {hardware} pockets through which he would retailer his crypto, in accordance with a March 30 story in The Washington Publish. As an alternative, he despatched his whole life financial savings, 17.1 bitcoin value $600,000 on the time, to fraudsters working a faux “Trezor” app designed to trick folks out of their coin. Phillipe’s story isn’t an remoted incident—theft within the crypto business jumped 40 p.c year-over-year since 2016, hitting $513 million in 2020. However, the toll of getting to independently confirm identification time and again, or having to arrange API entry with totally different profile necessities, could be tedious and time-consuming.

That’s the place ORGiD Bot is available in, serving to customers talk with the ORGiD system and offering companies with a easy technique to evade phishing makes an attempt and scams. Organizations can seamlessly add licensed representatives to their ORGiD, enabling them to establish themselves as legit to their friends.

All a corporation must do to create its ORGiD is join a MetaMask or Portis pockets with a small quantity of saved Ether (ETH). The Ether is transformed into the Winding Tree ecosystem’s LIF token, which is then staked to point authenticity. As soon as verified, enterprise folks within the blockchain area can question the Telegram username of somebody claiming to be with that group to @orgid_bot for verification. If the username is related to an ORGiD document, a response in regards to the group, together with its identify and on-line accounts, is offered, which the searcher can then evaluate for authenticity.

The ORGiD database makes use of the next information to confirm an organization’s identification:

  • Prolonged Validation SSL Certificates: The authorized, bodily, and operational existence of the entity
  • Web site deal with: The entity’s reference to a particular model
  • Social media: Their LinkedIn and Twitter accounts
  • Staked LIF: LIF staking prevents scammers from producing false identities

Winding Tree has established partnerships with crypto firms, equivalent to Kleros and Hacken, who’re already utilizing ORGiD Bot, and with airline and repair firms, equivalent to Air CanadaAir France-KLMLufthansa, and Swissport. The corporate can also be partnered with main resorts like Nordic Selection MotelscitizenM Resort chain, and Airport Resort Basel.

With ORGiD Bot, Winding Tree has developed an answer that streamlines the best way firms carry out know-your-business (KYB) checks. The onboarding course of is straightforward and it permits firms and establishments to validate group vitals in real-time. ORGiD is compliant with the newest anti-money laundering (AML) guidelines and is totally decentralized, making it unhackable. ORGiD Bot is on its technique to turning into an ordinary within the cryptocurrency and blockchain business because the go-to one-stop rip-off killer store. There is just one ORGiD Bot and his job is to verify everybody is aware of that there’s just one you.

“When cryptocurrency rebounded after an prolonged downturn, a resurgence of scammers and impersonators got here with it,” says Pedro Anderson, COO, and Co-Founding father of Winding Tree. “Somebody even copied my identification on Telegram and contacted a member of my group asking them for a switch. To deal with the issue, we listed our reps on our ORGiD and created ORGiD Bot as an on-the-go technique to confirm customers who contact us. It labored so effectively that we are able to’t wait to share our creation with the remainder of the crypto world.”

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