Kynno Usecases

Digital identity

Decentralized technologies mitigate the risks associated with centralized identity stores, which continue to expose identity data in breaches, regularly putting users at risk.

Kynno's technologies disrupt traditional centralized identity data approaches by enabling you to manage your own identity data and privacy through your Kynno Data Vault. As explained in a previous chapter, the privacy & security of your data are ensured by the most cutting-edge technologies such as Zero Knowledge Proof & Computational Intelligence.

Kynno’s technologies apply to a myriad of digital identity use-cases, such as:

Buying a house in no time

Since they also are self-executing and can be designed to perform a wide range of tasks, including processing loan requests or checking identities, to validate the most complex transactions with almost no human interaction and validation in the middle of it. Making it hustle-free for both buyer and seller while drastically reducing administrative costs for the banks.

Universal Medical Passport

Seeking medical advice or running medical tests creates data that is today held and managed by your healthcare professional, facility, or national health service.

As previously mentioned, Web3.0 identities are managed and stored on Kynno Data Vaults, and so can your medical records.

Because this data is like any other one, it can be stored and managed on your own Kynno Vault to take control and share it at your discretion by generating KVBs. By doing so, you control your medical data and keep an updated record of your health, which could be vital in emergencies and very convenient when visiting a new healthcare facility or provider.

And if it wasn't enough, Kynno can even be used to lower health insurance premiums, monitor the supply chain, fight counterfeit medications, and much more.

Easier Voting

Digital voting is becoming easier, faster, and more secure thanks to Kynno than it is today. Kynno will also help protect voters' identities. Instead of going to the polls or sending in a mail-in ballot, you will be able to identify yourself with your Kynno Data Vault and register your vote.

On top of that, Kynno will make all of this possible while providing an immutable record of votes to prevent fraud or tampering.

The applications are virtually limitless and other use-cases such as bank account creation, proof of age, or job application can be explored and addressed through the Kynno Data Vault and Kynno Vault Bounds.

Real Life Assets NFTization

Kynno's vision of the future is a Data Vault storing your digital life assets and transposing your real-life assets along with their metadata as KVB & NFT objects in your Kynno Vaults. Those KVBs & NFTs will be linked to your ID on the Kynno blockchain to confirm and validate your ownership.

Tomorrow you will be able to mint NFTs of your car, watch, luxury bag, smartphone, watch piece of art, or any other asset to create a digital version of them and update the metadata of those assets along their life with maintenance bills, Invoices and authenticity cards directly on your Kynno Data Vaults. You will then be able to easily prove ownership, traceability, origin, and authenticity.

If you decide to sell your real-life asset, you will transfer its NFT or KVB to its new owner and all real-life assets. The transaction will then be registered on the Kynno blockchain easily, securely, and immutably without needing an escrow.

Another kind of real-life asset that can be digitized is legal documents. They can be digitized, validated, and stored on your Kynno Data Vault in no time as Kynno Vault Bounds or KVBs.

It will enable documents such as terms & conditions, contracts, resumes, or pay slits to be signed and stored in our Blockchain to ensure it is totally decentralized, fraud-proof, and accessible anytime it is needed by you or whoever you are giving authorization to.

Personal documents, such as diplomas, work certificates, birth certificates, driving licenses, or proof of living, will then be directly delivered as KVBs to the right vault by the organizations issuing them. It will allow you to demonstrate the authenticity of your document with the click of a button.

Choose to monetize your data or not

For a long time, corporations in all industries have made their terms and conditions extremely complex to understand. Fueling official documents with jargon can confuse and scare potential readers, leaving the companies free to add terms and conditions we may disagree with.

Every like, submission, click, view, or engagement helps those companies improve their offering through product development or targeted advertising.

By combining your data with millions of people's data, platforms like Instagram or Twitter create precise audience profiling that they use to encourage companies to spend their advertising budgets.

In the end, the only people benefiting from this business are large technology companies and data buyers.

At Kynno, we want to shift this power to you!

Monetizing your data is a choice you and only you should make and benefit from. Also, we are offering our users the possibility to profit from the analysis, sale, and use of their data by outside companies interested in buying it from them.

Each Kynno user can select the exact data he would like to share and how he would like to share it, either anonymously or explicitly.

Kynno will act as the middleman between you and those organizations to facilitate the transactions and ensure you are the only one benefiting from it.

Reducing Administrative costs

Industries such as insurances, reinsurances, or banks have high administrative costs that burden their annual budgets.

Using the Kynno blockchain & Data Vault to manage claims, administration, or product development will significantly reduce those costs. Automating claims, verifying coverage, application submission, or automating payment are a few examples of how Kynno technologies are the cost killer such industries require.

Fraud Mitigation

Over $16 billion worth of identity theft and fraud are committed yearly. Financial institutions implemented alert systems that notify clients when a potentially fraudulent online transaction is detected.

Despite that, criminals continue stealing identification information and using it without permission, and polls show that those institutions can detect only 16% of fraudulent transactions.

With Kynno Data Vault, your identity is of utmost importance, and with Kynno Blockchain integrating Zero-Knowledge Proof, it is securely safeguarded. It can't be accessed or used by anyone without your prompt permission.

Kynno will, on the one hand, allow you to control what information you want to share while enabling companies to validate your identity efficiently.

With less verification & paperwork needed for each transaction, it drastically reduces potential vulnerabilities and allows a worry-free online buying experience for you, your financial institution, and online retailers.

Last updated