In the digital era, we all have an identity problem. According to 1Kosmos, the average person now has to manage between 250 and 300 online identities — not to mention more traditional offline identities like state identification, passports, health insurance cards, and so on. The disconnected nature of all of these different ‘identities,’ according to the company, results in a painful and repeated verification process that leads to poor and often frustrating customer experiences.
The company contends, however, that the fact that we have little control over how organizations store and use our data goes beyond bad experiences and leaves us increasingly vulnerable to everything from identity theft to privacy issues. The company has, therefore, introduced its BlockID solution to help enterprises solve this problem for their employees and customers.
The blockchain-powered solution acts as a trusted digital identify safe that enables individuals to self-enroll and verify their identity to the National Institute of Standards and Technology’s (NIST) Identity Level of Assurance 3, or LOA 3. The solution uses a combination of biometrics, government identification verification, and other identity validation functions to help users establish LOA 3 verification. Once verified, the solution encrypts all identifying information on the company’s permission blockchain, and users can use the company’s mobile app to gain access to everything from buildings to applications.
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