Onboarding and Identification
Decentralized identities enable an ecosystem where verifiable credentials from trusted and well-known issuers can be used to bootstrap user accounts in a self service manner. This can improve both user experience as well as the security of the process as it eliminates the need for manual verification steps and the distribution of account details over insecure channels.
Know Who The User is Before Signing up
User Self Service
Seemless User Experience
In a decentralized identity ecosystem, users store digital credentials from various authorities in a single digital wallet. As long as the user has access to their wallet, they cannot forget, drop or lose a credential. Verifiable credentials are designed in a way that only the holder can present them. When challenged, users can control which credentials to present or what data to share, and depending on their choice they can get different privileges.
Proof of Possession
Prevent Loss of Library Card
Only Disclose Minimal Data
Decentralized identities enable businesses to integrate more easily using standardized protocols, eliminating the need for point-to-point integrations. Thanks to selective disclosure of claims it allows verifiers to work with a minimal amount of personal data, greatly reducing the burden of regulations like GDPR or CCPA. Security mechanisms used with decentralized identities allow companies to make sure that even though they work on anonymous or greatly limited amounts of data, the information itself is not forged.