April 4, 2023
Here's a round up of everything decentralized identity, digital identity and SSI for the month of March. Dive in and found out the latest news below
Cointelegraph. March 1, 2023
Masa Finance announced its deployment on the Celo blockchain with its new “Prosperity Passport” identity solution for users. More than 10 million wallets active in the Celo ecosystem will be able to generate a Masa “prosperity passport.” This new Web3 identity solution allows users to mint a variety of Soulbound Tokens (SBTs) related to their digital life, such as an authenticated user verification SBT, a credit score SBT, a community reputation SBT and a “.celo” domain name SBT.
Cointelegraph. March 2, 2023
Polygon, a layer-2 scaling protocol for Ethereum, has launched a decentralized identity product called Polygon ID, which utilizes zero-knowledge proofs to ensure privacy and security for its users. The platform aims to provide users with more control over their personal data and enable them to create and manage their digital identities in a decentralized and secure manner.
Yoti. March 2, 2023
Digital identity company Yoti has received a £10 million investment from Lloyds Banking Group, which will help to fund the development of Yoti's digital identity platform. The platform is designed to provide a secure, user-friendly way for individuals to manage their personal data, and it has already been used in a range of applications, including online age verification and ticketing.
PMNTS.com. March 6, 2023
The article discusses the latest report from PYMNTS and Entersekt collaboration, which revealed that the majority of bank customers are demanding better transaction security measures, particularly in the form of biometric authentication. The report highlights the growing demand for biometric authentication methods, such as facial recognition and fingerprint scanning, among younger consumers, and discusses the efforts of financial institutions to meet these demands with more secure and user-friendly identity verification solutions.
#report #DID #banking
PMNTS.com. March 7, 2023
GIACT and Mastercard are partnering to provide a secure account verification solution that will help businesses reduce fraud and enhance customer experiences. The solution will combine GIACT's identity verification platform with Mastercard's authentication and tokenization services to offer a comprehensive security solution for businesses of all sizes.
#UK #DID #partnership
MDPI. March 7, 2023
This article investigates the capabilities of blockchain-based decentralized identification for the IoT domain, with an emphasis on the heterogeneity of online devices. It describes a number of features and specifications of decentralized identification with a specific focus on Self-Sovereign Identity (SSI), a model in which entities own their identities. The article concludes with a discussion of technical aspects as well as potential obstacles and constraints to the implementation of decentralized identification in the context of the Internet of Things.
#SSI #IoT #research
Fintech Global. March 9, 2023
Digital identity and fraud solution developer Socure has collected $95m in a three-year credit facility with J.P. Morgan, Silicon Valley Bank and KeyBanc Capital Markets. The company leverages predictive analytics on a suite of trusted online and offline data to verify identities in real-time. It has over 1,500 customers across the financial services, government, gaming, healthcare, telecom and e-commerce industries.
HR Magazine. March 9, 2023
Could digital wallets be the future of hiring? This SHRM article explores the potential of digital wallets as a tool for job seekers to store and share their resumes, credentials, and other relevant information with potential employers.
#HR #IDtech #
Finextra. March 15, 2023
LexisNexis® Risk Solutions and Finextra Research held Trust:Live 2023, the in-person event for all fraud and identity decision makers focusing on the latest challenges in establishing trust to protect customers, defend brands, or meet the needs of evolving business models. The article summarizes key takeaways from the event.
#fraud #DID #cybersec #events
Cointelegraph. March 15, 2023
Crypto unicorn Worldcoin, co-founded by OpenAI co-founder Sam Altman, has launched a new project, called World ID, which aims to create a decentralized digital identity solution. The project has also launched a waitlist for its software development kit (SDK) and plans to offer free development tools and integration resources to developers who want to build on top of the World ID network.
Forbes. March 15, 2023
This Forbes article discovers how Decentralized Identifiers (DIDs) on the blockchain are transforming online identity.
Finextra. March 16, 2023
A 2019 study by the consultancy firm McKinsey calculated that digital ID services could unlock economic value equal to 3% of the UK’s GDP by 2030. For reference, the UK’s GDP is currently around £2.58 trillion GBP. This article explores the impact streamlining the payments process can have for all parties to a transaction – Banks, businesses, consumers.
#DID #UK #usecase
PMNTS.com. March 20, 2023
NatWest Group, the British banking and insurance company, and OneID, the identity service provider, have partnered to create an embedded digital identity service that will enable customers to verify their identities online quickly and securely. The service is expected to reduce the risk of fraud and enhance the customer experience by streamlining identity verification processes across a range of industries.
#UK #DID #partnership
Biometric Update. March 21, 2023
Ping Identity has announced the launch of its new decentralized digital identity management solution, PingOne Neo. The company says this ID management solution gives individuals greater control over their digital identities and helps improve privacy, security and reduces resource and compliance issues for organizations.
Cointelegraph. March 27, 2023
The article discusses the potential role of digital identity in unlocking mainstream adoption of Web3 technologies, such as blockchain and decentralized finance (DeFi). The author argues that companies like PayPal and Facebook's Diem (formerly Libra) have already paved the way for digital identity solutions, and that further development in this space could help bridge the gap between traditional finance and the emerging world of Web3.
#DID #web3 #opinion