Bitmain Crypto Mining Firm Releases Its KYC Software Tool- Coconut
Bitmain Coconut KYC Software Tool
Coconut is basically an application solution offering users with real name registration while accommodating its platform. Along with privacy and regulation of digital asset, Bitmain is designing a centralizing identity authentication procedure. This process will fulfill the regulatory needs as well as complete protection of user privacy. The company plans to separate a real-name authentication authority from the business partner/platform.
Despite various identity authentication schemes ongoing in the market, a majority of schemes is focusing on the blockchain uses. They are looking to store and validate users’ identity details using blockchain. Similarly, Coconut will use technical means to streamline the service layer rather than the network layer.
Once organizations identify the users, they will receive an Intel® Enhanced Privacy ID (EPID) for authentication. This will be a private signing key supporting cryptographically. Moreover, it will…