Veridium brings biometric authentication to the Sovrin Network for self-sovereign identity
Veridium has joined the Sovrin Foundation as a founding Steward, and will collaborate with other Stewards to create, operate, and maintain the self-sovereign identity network managed by the foundation.
The company will apply its biometric authentication to supporting the Sovrin Network, which has more than 40 Stewards including Deutsche Telekom, Cisco, and IBM. Stewards support the task of validating digital signatures for verifiable claims exchanged across the network by providing hardware, network capacity, and security resources, according to the announcement.
“Veridium understands that identity cannot be securely boiled down to simple usernames and passwords,” said Sovrin Foundation Executive Director Heather C. Dahl. “Our organizations are working to solve the problems of digital identity in complementary ways and this is going to be a hugely beneficial collaboration.”
The Sovrin Foundation is the international non-profit in charge of the Sovrin Network, which uses a purpose-built distributed ledger technology as the basis for self-sovereign identity and verifiable credentialing.
“As blockchain technology revolutionizes industries across the globe, we’re thrilled to partner with Sovrin on the journey to transform the broken online identity system through self-sovereign identity,” said John Callahan CTO, Veridium. “Through our innovative VeridiumID platform, biometrics are a safe, strong and self-sovereign form of authentication for identity credentials for the enterprise, creating a world that is both convenient and secure, without the use of passwords.”
Veridium closed a $16.5 million Series B funding round just weeks ago, and plans to use the funds to accelerate its product development and scale its sales and marketing infrastructure.
Evernym and CULedger launched digital identity system MyCUID based on Sovrin’s technology earlier this year.