Please describe your proposed solution.

A KYC Token can be a solution to this problem. A token, I will receive into my wallet as soon as I have verified in the respective app and which can even be transferred to other of my wallets without resulting in a security lack. This KYC token is valid for at least 3-6 month, so that I am automatically verified for each transaction where the KYC token is accepted. As soon as my wallet is connected, I am verified.

Please describe how your proposed solution will address the Challenge that you have submitted it in.

A proper KYC token can decrease the time of verification for each crypto transaction where KYC is required. Plus it may even increase the willingness of Start-ups to implement verification to become more secure theirselves.

What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?

If we are not able to find a way that a token can only be sticked to certain wallets, which actually belong to the verified person, the tokens could not be used due to security issues.

Please provide a detailed plan, including timeline and key milestones for delivering your proposal.

Step 1: Assess security topics of the token e.g. transfer between wallets

step 2: Evaluate the requirements to become a KYC provider and define the end-to-end business model incl. Business case

Step 3: Set-up a prototype App including KYC verification and token generation.

Step 4: Set-up a list of projects and companies where a KYC token could be required and define a sales strategy

Please provide a detailed budget breakdown.

Step 1: USD 15.000

Step 2: USD 10.000

Step 3: USD 60.000

Step 4: USD 5.000

Please provide details of the people who will work on the project.

• Ann-Kristin Mackensen: CFO at NMKR (previously NFT-MAKER)
• External Lawyer: From our partner law firm
• Senior Fullstack Developer
• Designer / Front-end / Back-end
• Sales Consultant

If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.

If we are successful I would be happy to return to the next fund, because then we can really make an impact for the crypto companies with the funding money.

Please describe what you will measure to track your project's progress, and how will you measure these?

I will measure the outcome through reports / information I receive concerning KYC requirements for a company and for the App I need to see that the verification, token generation and transfer works. Then we need to start a use case with a partner who accepts our token to measure real-life transactions where KYC is required.

What does success for this project look like?

A framework for creating KYC tokens, that is accepted from many customers, partners and companies and which can actually decrease the time of verification for a transaction.

Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.

New proposal