DeFi KYB Decentralised Finance KYC
As brands they are simple and memorable for the target market.
Keyword brands attract attention and in advertising have a high conversion rate.
One domain may be used to enhance a particular business offering - think about soap and shampoo and a multi brands approach clearly works.
look at the success of hotels.com....
KYB changes with Defi and not just in operational speed but in branding. Onboarding clients can be from anywhere and given the predominant age group, companies and individuals may be young and have little conventional history.
With KYB of crypto deals and blockchain-based networks, you may offer checks on ownership of Block IDs where identification can be slow.
Regulatory changes have been slow to react to the blockchain and KYB even slower - new players are quickly entering the DeFI KYB/KYC market offering agility, freshness, new marketing approaches and modern branding.
KYB services may move more towards non-contracted where the end client uses the service on demand rather than for term contracts as happens now - a strong memorable brand is essential.
There is significant market opportunity with substantial structural growth in dapps and Blockchain activity.
To date, Know Your Business has been very much about financial institutions and larger customers initially until gradually it arrived to smaller clients - now it can be a tiny business in India that you have to check for a client in Amsterdam.
The whole concept of BlockChain is openness and that means anybody can deal with anybody - these means business size and location will vary enormously.
Ultimately KYB is there to prevent money laundering and Counter Terrorism Financing (CTF) as main objectives. Decentralized Finance will be regulated - can you be a suitable KYB data provider?