Individual identities are the foundational element for interacting with the global economy, and accessing services in the public and private sector. Individuals can be asked to prove their identity a dozen times a day.
In a digital world, these identities are evolving and need to be proved time and again when interacting with businesses and government. Meanwhile, identity fraud concerns are on the rise. How does your organisation respond?
Proving and verifying identities is costly and time-consuming – both for the individual, and the entities requesting the verification. Conventional methods of identity verification – ranging from ID cards to passwords – are prone to human error and susceptible to malicious intervention.
The situation becomes more complex, time-consuming and costly still when multiple parties are involved in the process of generating or verifying identities. On the other hand, individuals are concerned about privacy and identity theft implications, and only want to divulge the barest minimum to prove their identity.
n-blocks creates a digital identity ecosystem that makes proof of identity a snap.
Identity claims are digitally signed by issuers, encrypted and stored on the blockchain, where they are tamper-resistant and leave a clear auditable trail.
Users can choose to share their identities instantly and digitally with requesting entities in a self-sovereign model. It also allows users to prove their identities without sharing personal information, vastly reducing the risk of identity theft or intrusion.
For organisations, n-blocks delivers identity verification that is secure, reliable, rapid and automated – so human resources don’t have to waste their time and can be better allocated.
“Meanwhile, identity fraud concerns are on the rise. How does your organisation respond?”
New economy of digital identity
In this paper we explored the history and challenges of digital identity, new economy of digital identity and decentralized identity ecosystem on n-blocks.
File Format: PDF File Size: 1.7MB
We have a team of experts with various backgrounds who worked on n-blocks.
Get in touch with us for details regarding digital identity with n-blocks.