Youverse puts decentralized biometrics for business fraud prevention in context

The future of identity verification for fraud prevention is decentralized, Youverse argues in a new ebook.

“From Risk to Trust: Decentralized Verification for ID Fraud Prevention” analyzes the current state of identity verification and seeks to demystify some of the basics of decentralized digital identity based on face biometrics and Verifiable Credentials.

The ebook explores the limitations of both on-device and centralized biometric authentication, and makes the argument that neither is the best choice for businesses from an overall fraud prevention, compliance and data protection standpoint.

Legacy identity verification systems based on centralized databases have earned a reputation for weak fraud protection and frustrating customer experiences. At the same time, on-device biometrics on their own cannot ensure the person access the system is the real account holder, so are not suitable for high-security environments.

Youverse makes the case that a growing volume of real-world data shows the need for fintech, gaming, mobility and digital platform businesses to pivot to decentralized authentication and identity verification for fraud prevention.

A recent example of Youverse’s work with decentralized digital identity is its participation in the EU’s large-scale pilots for its Digital Identity Wallets through the WE BUILD consortium, which the company joined in February.

Download the ebook for free with registration.

Article Topics

decentralized biometrics  |  face biometrics  |  fraud prevention  |  identity verification  |  verifiable credentials  |  Youverse