In the contemporary financial and digital world, KYC (Know Your Customer) processes have become a critical point of collection of sensitive personal data. Every time we open a bank account, contract financial services or register on regulated platforms, we hand over highly personal information:

• Official identity documents (passports, driver's licenses).

• Proof of address

• Financial history

• Biometric information (photographs, fingerprints)

• Occupation and income details

• Personal and professional references

This information, possibly the most sensitive and valuable information about an individual, is stored indefinitely in multiple private corporate databases, often shared between entities under outsourcing agreements, without the user having visibility over its subsequent use or any real ability to revoke access.

This current model has serious shortcomings:

1. Inefficient redundancy: Each institution maintains its own KYC database, forcing users to repeat identical and overwhelming processes multiple times.

2. Leak risk: The multiplication of repositories exponentially increases the attack surface for potential security breaches.

3. Loss of control: Once the information is delivered, the user effectively loses all ownership and control over highly personal data.

4. Information asymmetry: Institutions know exactly what data they hold about the user, while the user does not know who is accessing their information and for what purpose.

A revolutionary approach to return ownership of KYC data to its rightful owners would combine blockchain technology that offers a promising path to return data ownership to users through immutable records representing ownership of specific sets of personal data, smart contracts with clear and self-executing terms on how data can be used and what compensation should be received, and of course, transparent transactions, eliminating the hidden use of personal information.

For their part, personalized AI agents can function as protective intermediaries providing a more intuitive and approachable experience for users, optimized to deliver an agile and human experience that prioritizes ease of use and cultivates genuine trust.

An ecosystem combining these technologies would allow users to maintain effective ownership of their data while receiving tangible benefits from its commercial use. Businesses would still be able to access the information needed for their services, but under transparent and equitable conditions set by the data generators themselves.

Giving people back control over their digital identity would not only balance the relationship between users and institutions, but also foster a digital ecosystem that is more ethical, accessible and aligned with human well-being.