The immutability of documents can be ensured by using blockchain. This has the ability to improve user and business experiences by removing unnecessary manual checks and middlemen. It also has the potential to increase transparency, reducing the riskof breaching restrictions on AML regulation like the Know Your Customer process (KYC).

On blockchain networks, smart contracts may be executed effortlessly with the help of identification. This has the ability to assist in the automation and streamlining of processes that are currently quite laborious and need the use of middlemen. This could help firms in cutting more costs and generate more profit models.