Evernym is truly making a name for themselves! It’s impossible to miss them in the Self-sovereign Identification (SSI) market niche, they have created the Infrastructure. Lions Gate Club wants to align with Evernym and join the Sovrin Alliance to provide our members with the very best systems for managing SSI.
Founded in 2013, Evernym conceived Sovrin, a body set up exclusively to develop, build and promote self-sovereign identity. The Sovrin Protocol creates a unique, digital identifier that can be used to verify proof of identity anywhere and at any time. Building SSI on a blockchain foundation means this new technology is extremely secure. And even more compelling, Sovrin has the potential to become a global, decentralized public body: available to everyone, owned by no one, and the software free to access.
As an example of what SSI can do, take autofill on your phone. You’re trying to pay for something but the details in the autofill tool are incorrect or need updating. By using your unique Sovrin identifier, you can share verified details and more – your card number, date of birth, passport number, address etc. – and automatically input those into the form. It’s a single-click system, totally under your control, which can significantly speed up customer transaction times and make life far easier and more convenient when buying online. Whether you are paying for a flight or opening a bank account, Sovrin helps you prove who you are by sharing verifiable data from trusted 3rd parties (like a bank or government) who can vouch for your identity.
Collaboration for identification
Evernym leverages Sovrin to develop tools and products that make it easier for businesses to integrate SSI capabilities into their own systems. Ultimately, Sovrin could reduce cybercrime and fraud and simplify identity challenges on a major scale. Looked at in this way. it’s easy to see how, together, Barclaycard Payment Solutions and Evernym can help create more secure futures for customers around the world.
Simplicity and privacy
Jamie Smith, Strategic Engagement Director at Evernym, believes that self-sovereign identity will in future revolutionize the way individuals prove who they are. “Everyone has multiple usernames and passwords – and some people use the same password for everything. Hackers love that. And it’s not just your email account they can take – once they’ve got your passwords, they can steal your whole identity,” says Jamie. With self-sovereign identity, those hackable usernames and passwords are things of the past. With SSI I can prove anything about myself, to anyone, at any time, and organisations can do the same.”
When it comes to GDPR and privacy regulations, SSI also offers a solution. Traditionally, if a business needed to verify that a customer was over 21, not only would they need to ask for their full date of birth, but they’d then need to store that data for future use. This could then become an easy target for fraudsters. With SSI, all a business would need is a simple “yes” or “no” from the customer confirming they’re over 21 and then verify that data using their unique Sovrin identifier. This gives customers more control over the data they share and organisations a much more efficient and streamlined data-management process for collecting and storing personal data.”
Self-sovereign identity looks set to play an important role in the payments market of the not too distant future. And thanks to Evernym, SSI customers will be well placed to benefit from this quick, easy and secure technology.
With your support the Sovrin Alliance will become the destination for self-sovereign identity knowledge by…
- Creating robust education and training initiatives to equip developers to work with this growing open source technology
- Uniting SSI developers, enterprises, entrepreneurs, and advocates to collaborate worldwide
- Launching an Alliance Developer Exchange dedicated to building SSI solutions
- Leading the effort to promote interoperability among all platforms and blockchains
- Establishing a learning network for the SSI community
- Offering targeted SSI education and training for executives & business development professionals
- Spearheading a global marketing campaigns elevating the overall awareness of SSI
The success of SSI depends on you!
Join the Sovrin Alliance and keep connected to the SSI community, get the latest training, access custom SSI business development resources, and attend Sovrin Alliance events with exclusive member discounts. Join today!