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The BlockID Digital Identity

BlockID builds a user's digital identity by compiling attributes that make the user's ID proofing process indisputable for highly secure authentication.

 



4 key technologies enable the BlockID digital identity.

 

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Modern cryptography

BlockID creates a decentralized identifier (DID) in compliance with the W3C guidelines. A DID is an identifier for verifiable, self-sovereign digital identity. DIDs are fully under the control of the DID subject and independent from any centralized registry, identity provider, or certificate authority. The control of the identifier is proven using modern cryptography that includes cryptography hash functions.

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Private key storage

The user's private key is stored inside the secure enclave of the user's smartphone. The secure enclave is a secure coprocessor that includes a hardware-based key manager, which is isolated from the main processor to provide an extra layer of security. The key data is encrypted in the secure enclave system on a chip that includes a random number generator. 

 

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Advanced, unspoofable, biometrics

When enrolling with BlockID, the user performs an advanced form of biometrics called a liveness test. This biometric identifier eliminates any risk of facial spoofing, which is the task of creating false facial verification by using a photo, video, mask or a different substitute for an authorized person’s face. The liveness test is then leveraged for authentication.

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Blockchain

1Kosmos leverages a private distributed ledger to securely store users’ identity information, with access controlled by the user (GDPR compliant) as well as a layer of privacy built around Ethereum to execute smart contracts. BlockID stores each user’s identity information in their own digital identity safe encrypted on the highly secure BlockID Blockchain.


The BlockID digital identity: Benefits.

 

The BlockID digital identity compiles attributes that make the user’s ID proofing process indisputable to:

Protect organizations.

  • Be assured of the identity of an employee who authenticates to access a corporate system or application to avoid identity compromises and ultimately cyber-attacks. 
  • Know for a fact that the customer who is about to transact online is who he says he is to eliminate any risk of fraud losses.
  • Automate employee verification and background checks.
  • Comply with regulations, especially around security and privacy. 
  • Employees' data and other sensitive information stored encrypted in the Blockchain.
  • Prevent fraudulent accounts.

Protect customers.

  • Customers' personal and financial information stored encrypted in the Blockchain. 
  • A customer only shares the information that is required, for example when opening or updating an account.
  • Customers must consent to sharing data stored encrypted inside their digital identities with a third-party.  

Streamline processes.

  • Speed-up new employees onboarding and accelerate new account registration.  
  • An individual's digital identity stores all sorts of information, which then becomes readily available anywhere at any time. For example, when drawing up credit histories, credit records, and credentials of potential and existing borrowers to help financial institutions prevent fraud and support instant loan approvals.
  • Pick up right where a customer left off, thus enhancing the user experience.
  • Accelerate secure transactions.

Data Storage and The BlockID Private Blockchain Ecosystem.

Our private Blockchain-based data storage architecture promotes trust between your organization and your customers for all transactions purposes and more and mitigates internal fraudulent issues.

Leveraging the BlockID Private Blockchain Ecosystem entails storing the customers and employees biometric information in a virtually incorruptible system to ensure they are who they say they are at all times throughout the process. Employees’ and customers’ data stored in our distributed ledger aren’t subjected to data breaches. 

The immutability of a distributed ledger is leveraged to record service provider-customer interactions. The document can never be modified, leaving an auditing trail, and therefore creating trust between all parties involved.

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chose 1Kosmos BlockID

“Cybercrime is a daily threat to every organization and government across the globe...These Verizon solutions (powered by 1Kosmos BlockID) offer a significant step forward in cybersecurity protection.”
Alex Schlager, Executive Director and Chief Product Officer of security services at Verizon Business