We aim to develop innovative and extraordinary products to liberate the true value of personal data by using SSI in trusted ways that directly benefit people.
Introducing Self Sovereign Identity
The Internet was built without an identity layer, and so today every service must build its own data store (“silo”) to store and secure customer details. Huge silos have amassed data for billions of users, with each one able to monitor, suspend, delete and remove any of its users at will.
This approach has led to security- and privacy-damaging results, as seen by the ever increasing scale of hacking and breaches, tracking, and un-permissioned data sharing that is so commonplace in today’s Internet.
Self-sovereign identity is a privacy-protecting digital existence for people, organizations and things that is separate from any data silo. Self-sovereign identity is owned, managed and controlled directly by “Identity Owners” rather than third parties. With the emergence of distributed ledgers, it has become possible to create a public global ecosystem where any person, organization or thing can own their digital identity, rather than “rent” tens or hundreds of identities from different silos. With distributed ledger technology, anyone in the world can have a self-sovereign digital existence.
The problem
Verifying the authenticity of customer documents and identities online is expensive, slow and often results in loss of customers. We require new tools and technologies that create reusable verifiable digital credentials that are easy to share and verify. With decentralised identity technology this is now possible.
Opportunity
DIDx and the founder have a track record of initiating and running proof of concept and production development, specifically focussed on Self-sovereign Digital Identity technology solutions.
Become the pioneer in the South African decentralised identity ecosystem, by developing the foundational technology and a knowledge base for both identity holders and SMEs.
The market for digital identity
Where this product could eventually have application
