Winding tree, the Ethereum-powered travel distribution channel, announced the launch of ORGiD Bot, an open-source registry that provides real-time identification and verification of companies and their representatives. ORGiD Bot is a dynamic solution to the growing dangers of identity theft and identity theft. By leveraging blockchain, Winding Tree has found a way to offer fast and transparent identity checks for blockchain and crypto companies. You can communicate with ORGiD Bot on Telegram, under the handle @orgid_bot.
Phillipe Christodoulou thought to download the app for Trezor, the maker of the famous cryptocurrency hardware wallet in which he would store his crypto, according to a March 30 story in The Washington Post. Instead, he sent all his life, 17.1 bitcoins worth $ 600,000 at the time, to scammers running a bogus “Trezor” app designed to trick people out of their room. Phillipe’s story is not an isolated incident – theft in the crypto industry jumped up 40% year over year since 2016, reaching $ 513 million in 2020. Still, having to independently verify identity over and over again, or having to configure access to the APIs with different profile requirements can be tedious and time consuming. .
This is where ORGiD Bot comes in, helping users communicate with the ORGiD system and providing businesses with an easy way to escape phishing attempts and scams. Organizations can seamlessly add authorized representatives to their ORGiD, allowing them to identify themselves as legitimate to their peers.
All an organization needs to do to create their ORGiD is connect a MetaMask or Portis wallet with a small amount of Stored Ether (ETH). Ether is converted to the Winding Tree ecosystem LIF token, which is then staked to indicate authenticity. Once verified, professionals in the blockchain space can query the Telegram username of someone claiming to be part of that organization at @orgid_bot for verification. If the username is associated with an ORGiD record, a response about the organization, including its name and online accounts, is provided, which the researcher can then review to verify its authenticity.
The ORGiD database uses the following data to verify the identity of a company:
- Extended Validation SSL Certificate: The legal, physical and operational existence of the entity
- Website Address: The entity’s link with a specific brand
- Social media: Their LinkedIn and Twitter accounts
- LIF staked: LIF staking prevents fraudsters from generating false identities
Winding Tree has established partnerships with crypto companies, such as Kleros and Hacken, which already use ORGiD Bot, and with airlines and service companies, such as Air Canada, Air France-KLM, Lufthansa, and Swissport. The company is also in partnership with big hotels like Nordic Choice Hotels, citizenM Hotel chain, and Airport Hotel Basel.
With ORGiD Bot, Winding Tree has developed a solution that streamlines the way companies perform Knowledge of Your Business (KYB) checks. The onboarding process is straightforward and allows businesses and institutions to validate vital organizational elements in real time. ORGiD complies with the latest anti-money laundering (AML) rules and is completely decentralized, which makes it unassailable. ORGiD Bot is fast becoming a standard in the cryptocurrency and blockchain industry as a one-stop-shop scam killer shop. There is only one ORGiD Bot and its job is to make sure everyone knows that there is only one you.
“When cryptocurrency rebounded from a prolonged downturn, a surge in con artists and impersonators came with it,” says Pedro Anderson, COO and co-founder of Winding Tree. “Someone even copied my ID on Telegram and contacted a member of my team to ask for a transfer. To resolve the issue, we have listed our representatives on our ORGiD and created ORGiD Bot as a way to verify users who contact us. It has worked so well that we can’t wait to share our creation with the rest of the crypto world.