ShareRing Awarded Certification by Government to Provide Digital Identity Solutions in the UK.
In Brief
This Australian blockchain enterprise has successfully attained accreditation within the UK under the \"Digital Identities and Attributes Trust Framework.\"
Australian blockchain company ShareRing ShareRing is among the first organizations within the blockchain space to achieve such accreditation under the DIATF in the UK. United Kingdom .
With this new accreditation, ShareRing is now positioned to offer revolutionary digital identity solutions for identity verification, which includes features for land registry in the UK.
Tim Bos, the founder of ShareRing, expressed, \"Digital identities are crucial for reducing friction in our daily routines, significantly enhancing operational efficiency across various sectors.\"
"The leadership of the UK in digital ID regulations, combined with our DIATF accreditation, empowers ShareRing to collaborate confidently with both public and private entities across Australia and the UK, promoting the advantages of self-sovereign digital identities for a wider audience,\" Bos added.
The DIATF, managed by UK governmental bodies, represents a detailed framework aimed at creating trustworthy and secure digital identity ecosystems.
It specifies stringent standards, principles, and requirements that accredited firms like ShareRing must adhere to, ensuring the safety, privacy, and reliability of user information while mitigating identity fraud risks and cyber threats.
As per ShareRing, this milestone demonstrates their dedication to delivering secure, self-sovereign digital identity solutions, marking a pivotal shift towards enhanced trust and security in this domain.
Versatile Solutions for Various Sectors
ShareRing’s digital identity technology is poised to cater to a wide array of industries.
From financial KYC (Know Your Customer) processes, customer due diligence (CDD), age and identity verification, to venue and guest management, and even corporate identity management, this blockchain provider delivers a complete platform for businesses to authenticate their customers’ identities.
For enterprises, managing digital identity demands is made simpler through a user-friendly web-based platform, which significantly streamlines the verification process and minimizes operational hurdles. Meanwhile, consumers can effortlessly create and manage their reusable digital IDs using the Identifi Me application, granting them full control over their personal data.
Additionally, the digital identity solution offered by ShareRing is built on blockchain technology, utilizing Tendermint PoS and Cosmos SDK – a methodology that ensures a secure and tamper-resistant environment for both businesses and end users.
Unlike conventional identity systems that are prone to vulnerabilities and fraud, ShareRing’s approach guarantees that personal data is not only verified but securely retained under the user’s command. data breaches Data is shared with third parties strictly when necessary and only with the user's explicit consent.
The company emphasized that this level of control and security represents a significant advancement in safeguarding individual privacy and curtailing the chances of identity-related crimes.
Over the past year, ShareRing has made notable progress in the private sector by innovating the traditional KYC and customer authentication models with their reusable digital identity tools.
Plans to establish partnerships
The company intends to forge partnerships with various Australian and UK investment firms, nightlife establishments, restaurants, hotels, and more. These collaborations are anticipated to bolster business security against identity fraud while fine-tuning operational workflows and driving down costs.
Achieving the DIATF accreditation is a landmark milestone in the digital identity realm for ShareRing. With their blockchain-enabled self-sovereign identity approach, they are establishing new benchmarks for trust, privacy, and data safety, and their partnerships across diverse industries are set to extend these advantages to a broader community, potentially transforming how we manage digital identities in the years to come.
Digital Identities and Attributes Trust Framework.
Disclaimer
In line with the Trust Project guidelines Kumar is a seasoned tech journalist with a focus on the dynamic intersections of AI/ML, marketing technology, and emerging sectors like crypto, blockchain, and NFTs. With over three years in the field, Kumar has built a solid reputation for crafting engaging narratives, conducting insightful interviews, and offering comprehensive analyses. His expertise lies in generating impactful content, including articles, reports, and research papers for leading industry platforms. Armed with a unique blend of technical acumen and storytelling prowess, Kumar excels at making complex technological ideas accessible to varied audiences in an engaging manner.
