Mcnoble Payment Solution

Inspiration

The challenge of repetitive KYC processes in decentralized payment systems inspired us to create a seamless solution using tbDEX and Web5 SDK. By issuing Known Customer Credentials (KCC) to verified users, we aim to simplify identity verification across multiple payment applications.

What it does

Mcnoble Payment Solution is a payment solution that issues KCCs to users, allowing them to reuse verified identity credentials securely across various payment platforms. This eliminates the need for repetitive KYC verification while enhancing user convenience and data privacy.

How we built it

We used the Web5 SDK to create Decentralized Identifiers (DID) and Decentralized Web Nodes (DWN). We then issued KCCs stored as JWTs in Alice’s DWN, enabling her to present her credentials in any payment app. Additionally, we integrated the Verifiable Credential (VC) Protocol to allow secure communication with Alice's DWN and authorized access for storing the JWT.

Challenges we ran into

The main challenges were implementing secure communication between the issuer and Alice’s DWN and ensuring private record storage within a decentralized environment. Configuring the DIF community DWN and understanding the new protocols also required extra effort.

Accomplishments that we're proud of

We successfully integrated the Web5 SDK to issue and manage KCCs, implemented secure record storage in Alice’s DWN, and enabled seamless, reusable identity verification across payment platforms without repetitive KYC processes.

What we learned

We deepened our understanding of decentralized identity protocols, the power of DID, DWN configurations, and Web5 SDK capabilities, particularly in managing private credential storage and verification.

What's next for Mcnoble Payment Solution

We plan to expand our solution to support more complex identity verification flows, integrate with additional Web5-based identity platforms, and explore user-friendly interfaces to improve adoption and accessibility in the decentralized payment ecosystem.

Built With

• dwn
• kcc
• sdk
• tbd
• web5