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Mizuhiki Suite

Aligning with JSC’s Principles of Safety and Sovereignty

In-line with JSC’s vision of addressing consumer pain points in the infrastructure layer, JSC offers its pioneering Mizuhiki Suite, which introduces a universal identification method matched with a suite of eKYC1 tools and services, offered for free to Japan Smart Chain projects and end-users.

The Mizuhiki Suite tooling aims to enhance user convenience through a single, reusable KYC process, saving time for consumers and cost for applications on JSC. It sets a new standard for blockchain platforms by directly addressing two critical aspects of web3 adoption in Japan: user experience and security.

The Mizuhiki Suite is designed to help blockchain applications meet Japanese regulations regarding stablecoin transfers, financial transactions, DAO administration, and other regulated activities. Users are able to provide applications with the necessary information required to transact safely, but also revoke access permission to their information via verifiable credentials or other on-chain abstracted identity tokens if they wish to discontinue application usage.

In all cases, no Personally Identifiable Information (PII) is exposed on-chain. This contrasts with the current paradigm of sharing PII with every application directly.

The Mizuhiki Suite provides the following key features for blockchain application developers, users, and businesses using JSC:

  • Privacy control back in the hands of the user: Users are able to control their information-sharing via the Mizuhiki Suite by: (a) limiting application access to only the user's necessary personal information, (b) abstracting credentials (such as age or university graduation status) from their natural personhood identities, and (c) revoking access permissions to their DIDs and/or verifiable credentials (VCs) with a single click.
  • Effortless KYC and embedded AML checks: JSC ensures the latest security and privacy standards by embedding KYC, AML, and other context-specific compliance checks programmatically into compliance and risk management toolkits provided by the Mizuhiki Suite.
  • Continuous compliance: Japan Smart Chain is committed to driving down the cost of identity verification and of compliance with Japanese regulations through programmatic continuous compliance. Our intention is to create infrastructure where the cost of compliance for existing and future innovation is de minimis, opening up new use cases and business opportunities that would otherwise be prohibitively expensive.

To address challenges faced by end-users and enterprises, the Mizuhiki Suite will consist of three core components:

  1. Mizuhiki Identity A user’s eKYC-verified identity, DIDs, and verifiable credentials, making identity self-managed, portable, and enforceable on-chain.

  2. Mizuhiki Compliance A third-party compliance validation and insurance: a source of truth that applications can tap into. Enforces external regulatory frameworks (e.g., JFSA rules) through a hybrid on- and off-chain approach by surfacing compliance signals and proofs.

  3. Mizuhiki Risk Management Allows enterprises to support their operational and transactional control that is separate from, but complementary to, external regulatory compliance. Policies such as transaction limits, asset gating, and approvals are codified and enforced on-chain for efficiency and transparency

Our aim is to enhance user satisfaction while also establishing a strong foundation for future innovation without compromising regulatory adherence for financial use cases.

JSCの構成要素の概要

Footnotes​

  1. Electronic Know Your Customer. eKYC is used interchangeably throughout this paper with “Know Your Customer” (KYC) ↩