[DAPP] Proof of Bank Account (PoBA)


#1

One of the biggest concern about Proof of Authority open network is who validators are?To bring more trust to validators in Oracles Network we create a series of Know-Your-Customer (KYC) micro oracles, such as Proof of Phone (PoP), Proof of GitHub (PoG), Proof of Physical Address (PoPA), and Proof of Bank Account (PoBA).

Using PoBA, a validator will confirm ownership of his bank account using integration service and our identity oracle. We plan to integrate DApp with Plaid. The service provides a widget where a user can log in to his bank account. After a successful login, the bank will send back a request (webhook) to the widget backend with confirmations. Plaid will send a webhook back to dAPP and PoBA will record that verification inside a smart contract.

Some visuals of the new oracle:


Oracles Network. News and updates #9
#2

Can PoBA DApp be used more widely as a KYC mechanism ? Not only to validate validators, but also ordinary users? As far as I understand the fact that someone (as an address) is validated is stored on blockchain so such smart contract can be theoretically used as KYC procedure by other smart contract.


#3

Yes, the data stored by the POA Network Proof of Bank Account (POBA) DApp could certainly be included as part of a Know Your Customer (KYC) protocol.