Winding Tree, the Ethereum-powered question organisation channel, has announced the motorboat of ORGiD Bot, an open-source registry that provides real-time recognition and verification of companies and their representatives. ORGiD Bot is simply a dynamic solution to the increasing dangers of individuality theft and impersonation. By leveraging blockchain, Winding Tree has recovered a mode to connection speedy and seamless individuality checks for blockchain and crypto companies. You tin pass with ORGiD Bot connected Telegram, nether the grip @orgid_bot.
Phillipe Christodoulou thought helium was downloading the app for Trezor, the shaper of the celebrated cryptocurrency hardware wallet successful which helium would store his crypto, according to a March 30 story in The Washington Post. Instead, helium sent his full beingness savings, 17.1 bitcoin worthy $600,000 astatine the time, to fraudsters moving a fake “Trezor” app designed to instrumentality radical retired of their coin. Phillipe’s communicative isn’t an isolated incident—theft successful the crypto industry jumped 40 percent year-over-year since 2016, hitting $513 cardinal successful 2020. Nevertheless, the toll of having to independently verify individuality implicit and implicit again, oregon having to acceptable up API entree with antithetic illustration requirements, tin beryllium tedious and time-consuming.
That’s wherever ORGiD Bot comes in, helping users pass with the ORGiD strategy and providing businesses with a elemental mode to evade phishing attempts and scams. Organizations tin seamlessly adhd authorized representatives to their ORGiD, enabling them to place themselves arsenic morganatic to their peers.
All an enactment needs to bash to make its ORGiD is link a MetaMask oregon Portis wallet with a tiny magnitude of stored Ether (ETH). The Ether is converted into the Winding Tree ecosystem’s LIF token, which is past staked to bespeak authenticity. Once verified, concern radical successful the blockchain abstraction tin query the Telegram username of idiosyncratic claiming to beryllium with that enactment to @orgid_bot for verification. If the username is associated with an ORGiD record, a effect astir the organization, including its sanction and online accounts, is provided, which the searcher tin past reappraisal for authenticity.
The ORGiD database utilizes the pursuing information to verify a company’s identity:
- Extended Validation SSL Certificate: The legal, physical, and operational beingness of the entity
- Website address: The entity’s transportation with a circumstantial brand
- Social media: Their LinkedIn and Twitter accounts
- Staked LIF: LIF staking prevents scammers from generating mendacious identities
Winding Tree has established partnerships with crypto companies, specified arsenic Kleros and Hacken, who are already utilizing ORGiD Bot, and with airline and work companies, specified as Air Canada, Air France-KLM, Lufthansa, and Swissport. The institution is besides partnered with large hotels like Nordic Choice Hotels, citizenM Hotel chain, and Airport Hotel Basel.
With ORGiD Bot, Winding Tree has developed a solution that streamlines the mode companies execute know-your-business (KYB) checks. The onboarding process is elemental and it allows companies and institutions to validate enactment vitals successful real-time. ORGiD is compliant with the latest anti-money laundering (AML) rules and is wholly decentralized, making it unhackable. ORGiD Bot is connected its mode to becoming a modular successful the cryptocurrency and blockchain manufacture arsenic the go-to one-stop scam slayer shop. There is lone 1 ORGiD Bot and his occupation is to marque definite everyone knows that determination is lone 1 you.
“When cryptocurrency rebounded aft an extended downturn, a resurgence of scammers and impersonators came with it,” says Pedro Anderson, COO, and Co-Founder of Winding Tree. “Someone adjacent copied my individuality connected Telegram and contacted a subordinate of my squad asking them for a transfer. To tackle the problem, we listed our reps connected our ORGiD and created ORGiD Bot arsenic an on-the-go mode to verify users who interaction us. It worked truthful good that we can’t hold to stock our instauration with the remainder of the crypto world.”