1Kosmos BlockID passwordless, biometric- and blockchain-based authentication and identity verification solutions are helping organizations break free from vulnerable, costly and cumbersome legacy solutions that are no longer capable of securing today’s digital enterprise.
1Kosmos BlockID solutions are available as a white-label offering if you'd like to create your own passwordless, biometric and blockchain-based authentication and identity verification solution.
One such solution is Verizon Identity (VID), powered by 1Kosmos BlockID.
Alex Schlager, Executive Director and Chief Product Officer of security services at Verizon Business
Verizon Identity (VID) is a next generation technology that integrates blockchain identity solutions, multi-factor authentication and biometrics into a user-transparent process. Users can store their identity data in a secure digital identity safe on their own mobile devices and provide it easily to those who need to access and validate it. Verizon ID also helps eliminate the need for User IDs and passwords, simplifying the user experience while helping enhance security.
As Alex Schlager, Executive Director and Chief Product Officer of security services at Verizon Business, explained, "Cybercrime is a daily threat to every organization and government across the globe. Our 2019 Data Breach Investigations Report highlighted that financially motivated cyberattacks are increasing across the board, and that C-level executives are increasingly and proactively targeted by social breaches, linked to (for example) stolen credentials...These Verizon solutions offer a significant step forward in cybersecurity protection."
Verizon ID enables users to access their identity data from a secure digital identity "safe" on their own mobile devices. This includes digital and physical identity documents, including credit cards, insurance cards, and educational and professional credentials. The safe is keyed to the user's unique biometrics and resistant to tampering.
As Verizon notes, key to any trusted business relationship or transaction is having a high level of assurance that the person you’re interacting with really is who they claim to be. This is especially challenging in the digital world where you may never meet your customer in person.
VID solves this challenge by providing Identity Assurance Levels as defined by the US National Institute of Standards and Technology (NIST) that's sufficient for financial institutions to achieve Know Your Customer (KYC) compliance, and actually a better level of assurance than if your customer showed up in person with just a driver's license.
Adding protections such as multi-factor authentication and biometrics often requires systems that are costly and difficult to build, defend and support.
With VID, you get these protections automatically — no software to write, buy or maintain. Just install our free Software Development Kit and you can configure these capabilities on your own. Moreover, VID uses its own machine learning-based cognitive AI for biometric protections. It doesn’t rely on the services of the underlying operating system (like a phone's fingerprint or face recognition software) so you don't have to modify additional hardware or software.