Dock introduces credentials recovery, lands new deal with Hong Kong financial sector

Reusable digital identity platform Dock has added a new feature that will allow users to recover their credentials quickly with the help of biometrics.

Verifiable credentials are usually stored on a user’s mobile phone which can get stolen, lost or replaced leading to inconvenience for users. Credential issuers can now offer users to back up their digital ID by creating an ID wallet in the cloud through Dock’s Cloud Wallet technology.

The Swiss company encrypts each Cloud Wallet with the user’s biometrics ensuring only they can access the wallet. Credential issuers can choose between different biometric methods, including fingerprint or facial recognition.

Biometric credentials are important because wallets will get compromised, Nick Lambert, CEO at Dock, recently told audiences at an online event discussing digital verifiable credentials connected to biometrics. Companies will have to keep working on protecting their users from being tricked into compromising their wallets by fraudsters, he adds.

The company launched privacy-preserving credential monetization for its decentralized digital ID platform this year, allowing issuers to generate revenue through verification of the credentials they supply.

In other news, Dock has also been making new deals for developing digital IDs in Asia. The company’s latest partner is Hong Kong-based Blockchain-as-a-Service provider Moon Lab.

The duo is working on a digital ID solution tailored for banking institutions in Asia. Moon Lab plans to use Dock’s decentralized identity infrastructure to offer fast verification on different financial platforms and enhance data ownership for users, the two companies said in an announcement.

Last month, Dock also reached a deal with authentication and fraud protection companies Youverse and Daon to offer better privacy in biometric identity verification processes.

Article Topics

Asia  |  banking  |  biometrics  |  cloud services  |  digital ID  |  digital identity  |  digital wallets  |  Dock  |  verifiable credentials