Verification processes based on paper credentials are obsolete. There are multiple points of failure introduced unnecessary risk (photocopies, alteration, lost/stolen, illegible, unverifiable, untraceable). Yet paper-based processes underpin important and meaningful transactions that affect our everyday lives: drug prescriptions, vaccine verification, medical referrals, real estate titles, surveys, licenses, and more. Digitization can offer consumers and providers a more convenient superior experience while reducing fraudulent transactions and compliance risk. Corporate losses due to fraud is estimated to be 3% to 10% of revenue, and around 5-6% of total GDP. We can bring this down with our verification stack. We are starting with the health care industry, which is $2.26 trillion in the United States, and can not only help consumers and companies save money but also can help save lives.
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