Gemalto and R3 to launch self-sovereign digital identity network
Gemalto has announced plans to pilot blockchain technology in collaboration with R3 to provide consumers with a mobile application providing “self-sovereign” Digital ID. The new Gemalto Trust ID Network is intended to enable consumers to conveniently authenticate themselves to banking, ecommerce and e-government services while retaining control of what data they share, and who it is shared with.
The secure ID Wallet mobile app allows consumers to enrol in digital services without going through due diligence for each one, according to the announcement. The Wallet stores sensitive identity data, while attestations by trusted parties are stored on the blockchain.
The combination of rigorous data privacy regulations and KYC rules makes self-sovereign digital identity ideal for financial institutions, the companies say, while other organizations can benefit from shared ID management costs, and richer identities built as more stakeholders join the ecosystem.
“Trust ID Network solves the profound weaknesses of traditional, ‘siloed’ identity frameworks: the clumsy user experience, rising costs and difficulties in complying with stricter regulations. It’s the perfect illustration of Gemalto’s ability to combine proven Digital Identity solutions and new technologies such as the blockchain,” said Bertrand Knopf, EVP Banking & Payment for Gemalto. “Financial institutions are best-placed to lead this self-sovereign identity revolution, but it will prove similarly attractive to a wide array of other service providers.”
The Trust ID Network is deployed on R3’s Corda enterprise blockchain platform, which provides privacy, security, immutability, and streamlined integration for service providers. R3 currently works with more than 200 financial institutions and other partners.
“Empowering customers to manage and control their own digital identity based on blockchain technology is nothing short of revolutionary and we’re very pleased to be collaborating with Gemalto on the Trust ID Network,” said David E. Rutter, CEO of R3. “The Corda platform’s unique privacy features offer the ideal basis for a secure, easy-to-deploy decentralized ID management platform.”
Several Trust ID Network pilots are expected to launch later this year, with participation from a wide range of stakeholders.
The Sovrin Foundation welcomed Veridium as a founding Steward in July, as efforts to create self-sovereign identity platforms ramp up.