Blockpass to deliver commercial KYC Blockchain Validation for British Fintech ethecal

February 2019
Today at the London Blockchain Week 2019, ethecal, the smart money-management app that actually pays you to get on top of your financial wellbeing, announced a partnership with Blockpass IDN Limited, the leading blockchain identity- verification technology provider, to deliver commercial KYC blockchain validation for all users on the ethecal platform.

The concept of ethecal is surprisingly simple yet profoundly impactful. Built on blockchain and run on smart contracts, the ethecal platform is a one-stop money management solution for everyone.

Using the ethecal app users can earn the digital currency ethecal-coin where the mission is to motivate people to be more engaged in understanding and managing their finances. The goal is to help set users on the path to positive lifelong financial wellbeing and ultimately fight the UK’s debt and poverty premium problem.

The app offers simple budgeting tools, access to money saving offers on everyday expenses such as phone plans, utilities and subscriptions as well as affordable loans even for those on low incomes. Encouraging financial planning, debt management and savings, the app converts positive financial wellbeing activities into the ethecal-coin virtual currency that users can spend in an internal marketplace.

“We are extremely happy to partner with Blockpass to deliver KYC for our users,” said Richard Hallewell, CEO at ethecal. “KYC is a critical component of the app workflow and we can’t have a better partner than Blockpass - the leading blockchain identity-verification technology provider.”

The ethecal app, a money management tool that will help any user on the path to financial wellbeing it is of particular interest to those on low incomes and having low credit scores. This is because the ethecal platform is unique in that consumers have access to reduced cost utilities, services and credit based on their ability to pay for the goods and services versus the traditional method of screening based on credit history. This is a fairer way to connect customers in need of credit with ethecal providers in cases where an individual’s credit score may not give a true representation of the lending and borrowing risk.

While KYC is a necessary requirement for customers on the ethecal platform, all customers will benefit from having to validate their identity just once while subsequently having access to a wide range of credit-based products and services. “Financial exclusion is a big problem for a large part of the UK population ” said Sharon Henley, CMO, ethecal. “With a Blockpass digital ID, users will not only have a validated ID but will also have access to financial products and services not previously available. And where these products and services are fairer for the consumer this can only be a positive outcome.”

“Blockpass is excited for our partnership with ethecal to become a reality. This collaboration builds upon the remarkable momentum we have made in bringing blockchain identity verification to the market for commercial use,” said Blockpass CEO, Adam Vaziri “ethecal is helping to drive our passion, both to build out a far and wide ecosystem of identify-verification partners but also accelerate exciting developments in blockchain technology at large.”

Blockpass is the leader in KYC/AML blockchain solutions for commercial ventures. Blockpass provides a streamlined and cost-effective user onboarding process for regulated industries and any kind of online service. From the Blockpass Application, users can create, store, and manage, data-secure digital identity that can be used for an entire ecosystem of services or token purchase. Its customers include Ethfinex, Holdex and now ethecal, amongst others.

Hans Lombardo, CMO of Blockpass, said, “Compliance and security is the priority for Blockpass and we are proud to be delivering these services on the ethecal platform to provide the highest level of data protection for their customers.”

Ethecal is currently looking to crowd fund, raising capital to progress the ethecal platform from proof of concept to reality. Currently half way through the Proof of Concept, the ethecal platform has received tremendous positive feedback from all stakeholders; end users, credit and service providers as well as local and central government. A prototype is in progress and is expected to be ready within the next 60 days. We are encouraging all interested parties from investors, suppliers, providers and individuals to express their interest by signing up at

About ethecal

ethecal exists with the vision to completely and permanently eliminate the average £4901 per household poverty premium that impacts an estimated 14.3 million individuals in the UK. The concept of ethecal is surprisingly simple yet profoundly impactful. Built on blockchain and run on smart contracts, the ethecal platform and smart-app is a one-stop money management solution where the end result is to eradicate the poverty premium for all of our users. We are leveraging modern technologies and changing lifestyles to provide an ecosystem facilitating access to fairer finance to all households including access to the best deals on everyday goods and services. But even more so we are integrating a rewards program and incentivization platform that actually pays users to get on top of their finances and in doing so building them a pathway out of poverty.

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LinkedIn: Acting on unfair poverty premiums must be a 2017 priority. - Briefing Paper: Poverty in the UK, Number 7096, 31August 2018

About Blockpass

The goal of Blockpass IDN ( is global realization of identity for the Internet of Everything. Through the use of blockchain technology and smart contracts, Blockpass is a production ready Regtech platform offering shared regulatory and compliance services for humans, businesses, objects and devices. As this identity system supports verification of humans (KYC), objects (KYO) and connected devices (KYD), it will enable the development of new applications that rely on a trusted connection between human, corporate, and device identities. Registered in Hong Kong, Blockpass IDN is a joint venture of Infinity Blockchain Labs and Chain of Things. Blockpass IDN licenses its technology from the non-profit Blockpass Foundation, registered in the Isle of Man.

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