Reclaim protocol enables various usecases that were previously never possible. It unlocks a new design space letting builders build novel solutions that leverages the identity and credentials of the user - identities and credentials the users have accrued over time all over the internet. If you are building any of these ideas or products in the periphery of these ideas, we’d love to support with grants, funding, and engineering.
Verification Usecases
Address verification
Currently address verification is done in one of the following modes - either by sending a person physically to the said address, or by utilizing addresses on official documentation like national ID, financial documents. Reclaim protocol can help provide the users’ current and active address by verifying daily activities like Amazon orders, food delivery, Uber pickups aggregated over time.
This is especially useful for HR agencies verifying the person’s address.
Underwriting loans for Amazon, Ebay, Shopify Sellers
A lot of data like returns, complaints, rate of growth of sales are all not visible to an underwriter. These are important signals to judge the health of the business. An underwriter can demand this information before extending loans to the seller.
Reclaim can provide the seller’s history and performance in a provable way to the underwriter.
Matrimony and Dating person verification
Misrepresentation is common. Many individuals lie about their profession, wealth and even their real identities. Many matrimony websites in India sell background verification services charging $50-$100 per verification. Many cities have popular help groups called “Am I dating the same guy”, to make sure others in the community haven’t been scammed or abused by the person they’re speaking to on dating sites.
Reclaim can help these dating sites enforce the check so that the other person is forced to prove their claims about their wealth, profession or identity.
Tenant or customer verification in rental services
Many house owners are individuals who may not have a dedicated team to do background verification.
Reclaim can enable the owners to request proofs of the customers’ identity and profession.
Finance
KYC’d Defi
DeFi needs KYC to get large institutional players to participate. Today, the addresses one is transacting with is completely unknown and no way to ensure compliance while staying fully on chain.
Reclaim can enable addresses to KYC themselves and prove that transacting with them doesn’t violate any compliance requirements.
Insurance claims
65% of the health insurance claim processing outside the West is slowed down because of the lack of an audit trail of the health records. Patients typically download the reports from their health provider and upload it to the insurance provider. These reports aren’t signed by the health provider. So time and effort is spent in verifying the authenticity of the documents submitted.
Reclaim can attach proofs to the downloaded documents and short circuit the verification process.
Pseudonymity
Pseudonymous Identities
If a user spins up a new pseudonymous identity, they typically have to start from scratch. They have no way to bootstrap trust with their network. They have to spend several month rebuilding a reputation and proving their skills.
Using Reclaim, they can prove that they have certain reputation like followers on social media, their profession, their affiliations etc. They can seed their pseudonymous identity with reputation they can inherit from their other identities. With a single tap a user can spin up a new pseudonymous identity to maintain their privacy when dealing in low trust transactions on the internet.
Skill IDs
Users can pseudonymously publish their skill ids or badges to display their skills using Reclaim. These skill ids unlock opportunities for the user
- Matching talent with opportunities on a gigs marketplace
- Skill based conversations and connections
- Broadcasting openness to work at a gig or job
- Gated inbox based on skills to get access to opportunities
Similarly, skill IDs can have subsets like Creator ID, Gamer ID, Freelancer ID, Opensource Contributor ID.
Some novel usecases
P2P onramp/offramp
Users can prove a fiat transfer to seller and produce the proof on chain to withdraw crypto from a smart contract. Figma
Gossip Marketplaces
Users can share information and opinions that may not be safe to broadcast under a real identity because of professional and social consequences. A marketplace for real and negative reputation becomes possible because of reclaim.
ID gated credit cards
Prove your travel on all the ride sharing apps to get a Lyft credit card. Prove your airtravel and get a Emirates credit card.
Authentic training data for AI Models
One can prove that the input dataset is from an authentic source.
Network State
This is a large section in itself! Please visit the dedicated blog post for Network State Tools ideas.
If you are building any of these ideas, we’d love to speak to you. Hit madhavanmalolan up on Telegram or apply for a grant on Questbook.
Thanks to Abhilash for working out the insights and ideas mentioned on this blog.