Fraud prevention platform Self launches in beta for biometric authentication in Web3
The Web3 fraud prevention platform Self has officially announced a beta launch to enable individuals to create decentralized and biometric digital ID applications.
Further, the Self infrastructure tackles fraud via communication, authentication and verification layers supporting a broad range of use cases, including preventing account takeovers and losses from account sharing and delivering extra safeguards for children online.
“Fraud is a $5.2 trillion problem, which affects all areas of our lives,” comments Self Founder Dan Sutherland. “Self provides a much-needed and long overdue solution to this, leveraging Web3 to bring the human factor back into the digital realm.”
The platform is now releasing publicly accessible application programming interfaces (APIs) and software development kits (SDKs) to enable integration within existing workflows and infrastructures.
From a technical standpoint, upon launch, Self is currently offering four primary services to companies. The first one is biometric authentication which, according to the company, can be used in conjunction with messaging, calling, and signing documents.
Secondly, Self offers fact verification, including passport details and travel plans. More generally, the company said customers could link their existing know-your-customer (KYC) tools to Self’s selfie biometrics to improve checks’ security.
The third feature offered in Self’s beta regards symmetrical authentication, enabling businesses to verify users and the opposite, ensuring users know the person they are interacting with is authorized to act on behalf of a company.
Finally, Self offers ID-anchored, end-to-end encrypted communications via the company’s app and biometric features.
Self was established in 2019 by Sutherland and Sena Gbeckor-Kove. The London-based startup plans to launch its token on the Ethereum network in Q1 2023.
“Fundamentally, Self brings together people and technology in ways never seen before to tackle fraud in an entirely new way and facilitates the development of a platform which will reshape the future of trust,” Sutherland concludes.
Another company bringing digital ID and biometrics together for decentralized Web3 applications is Liquid Avatar, which recently unveiled a new proof of humanity feature for its platform.