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Token Economy
Our Technology
Identity Verification
Low cost identity verification will be key to owning your data and reducing friction between you and the companies you interact with.
We found that with rights requests, organisations often need to verify individuals before returning data and whilst this is proper and correct (you wouldn’t want to send one person’s data to another) a lot of the time these organisations would use inappropriate and arduous procedures - quite possibly by design - to wear people down and avoid having to service the original request.
To counteract this we developed our own, appropriate and measured series of ID verification technologies that organisations can use within the Tapmydata platform.
Want to know more? You can try our ID verification beta in the Tapmydata app today. It works with passports currently and will be extended to support other ID documents.
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Where does Self Sovereign Identity (SSI) sit?
Self-sovereign identity has a key role to play in the future of your privacy and identity. SSI means the individual manages the elements that make up their identity and controls access to those credentials - digitally. With SSI, power to control personal data resides with the individual, not an administrative third party granting or tracking access to those credentials.
The SSI system gives you the ability to use your digital wallet and authenticate your own identity using the credentials you have been issued. You no longer have to give up control of personal information to dozens of databases each time you want to access new services, with the associated security risk.
A number of established SSI initiatives already exist and the world of data in general, and blockchain in particular, would greatly benefit from universal standards in technology and regulation.
To the individual, Tapmydata offers the first step towards building their own sovereign ID - a digital profile of verified personal information independent of any organisation, while presenting an on-ramp to more complex SSI services as they become available.
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