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Coinscrum Markets Spotlights: Bringing Compliance to DeFi with Blockpass & EasyFi

Courtney Lau | February 2021

On February 3rd, the CEOs of Blockpass and its partner EasyFi, Adam Vaziri and Ankitt Gaur, were interviewed by Alex Batlin on the Coinscrum weekly crypto market insights and analysis show, Coinscrum Markets, to discuss "Bringing Compliance to DeFi."

With the growth of DeFi recently, there are many uncertainties, and adoption is still limited to a niche audience. In order to broaden the adoption of blockchain technology and DeFi and attract more mainstream investors – actors to participate in the ecosystem – certain compliance measures have to be in place to provide accountability and reputability to the new technology. However, the idea of adding KYC layers to DeFi may sound antithetical to the movement; this is where Blockpass can help, providing seamless and secure on-chain KYC data across multiple blockchain platforms, and this is just the start.

In the beginning of the interview, Vaziri introduces what Blockpass offers: an identity protocol both off-chain and on-chain. With the recently launched On-Chain KYC™ , Vaziri talks about the latest partnership with EasyFi, the unique and first-in-market use case of On-Chain KYC™. Blockpass’ vision is to establish self sovereign identity for users, providing custody of users’ identity while satisfying the regulatory needs to achieve a win-win situation between DeFi applications and its users. Vaziri also shares his vision of the future of KYC, and how Blockpass solutions can extend the possibilities of DeFi to increase compliance without sacrificing its unique pseudo-anonymity.

In the interview, Gaur discusses how EasyFi’s vision aligns with Blockpass’ to ensure compliance, along with the beauty of the pseudo-anonymity of its DeFi projects. He also elaborates on the partnerships of Chainlink, Matic and Blockpass coming together as an “Identity Quad”.

Find out more about Blockpass’ solutions and its partnership with EasyFi, a protocol built to solve some of the inherent challenges faced by the first generation of DeFi solutions with respect to transaction speeds and costs which create a bottleneck when operating at scale. Its secure protocol aims to cover all manner of bases, including micro-lending, under-collateralized loans, credit delegation, credit default swaps and more.

Watch now!