A cryptocurrency wallet company, MyEtherWallet (MEW) have recently shared in a blog post regarding the releasing of their platform which allows the user to convert cryptocurrency to fiat without KYC in collaboration with crypto finance firm, Bity. In the blog post, MEW also confirmed that the user is allowed to perform the conversion from any part of the world.
The Canadian Bankers Association have expressed need for the country to develop a digital identification system powered by blockchain and biometrics technology. In white paper published in May 2018 entitled “Canada’s Digital ID Future – A Federated Approach” emphasised to create a legal framework to enable the creation and usage of digital ID solutions under one national strategy.
Former Apple employee Phillip Shoemaker has been hired as executive director of Identity.com. Blockchain startup Civic has bought the Identity.com domain in July this year. Jonathan Smith, CTO, and co-founder of Civic said that “Phillip’s knowledge of blockchain and expertise building internal infrastructure will guide Identity.com through a key time of deployment and growth,”.
The proof-of-concept of the blockchain powered credentials management system for the construction site laborers has been accomplished by the Swiss Federal Railways (SBB). The project was functioning from May to November. The blockchain solution was built by Linum Labs with the uPort open source technology. Reportedly, the app could link identity systems authenticated by city administrations.
Collaboration has been made between Deloitte and an identity management firm, Attest Inc to introduce a blockchain-powered government identification system as an effort in eliminating the problems faced in the government institution. The Consulting LLP Managing Director of Deloitte, Wendy Henry explained, “In the blockchain pilots we’ve run with our government clients, digital identity can be a thorny issue.”
A partnership has been established for the blockchain-powered solution for identity management, Persona and FintruX with the aim of enhancing the customer’s onboarding process. The Co-founder of FintruX Network explained, “We are excited to see how Persona’s services will enable us to better respond to our customer’s needs by rapidly verifying the identity of borrowers on our platform.”
Visa is to launch blockchain-powered digital identity system for cross-border payments in the first quarter of 2019. The global head at Visa Business Solutions, Kevin Phalen is optimistic with the ability of the blockchain-powered system to combat fraud in the cross-border payments system as all the details will be granted a unique cryptographic identifier.
The Electroneum mobile-based cryptocurrency has declared that the users will have to meet the KYC norms by the 12th of November. The users would be able to complete their KYC through the Yoti’s digital identity application. The association with Yoti is expected to support the Electroneum users complete the verification in seconds removing the need to submit identity forms multiple times.
Collaboration has been made between an insurance broking and innovative risk management solutions, Marsh and a data security platform, Evident for developing a blockchain-powered verification solution for the clients in sharing and gig economies. The Chief Digital, Data and Analytics Officer at Marsh commented, “The beauty of blockchain technology is its ability to provide trust, efficiency, and security across ecosystems.”
The Brave would be using the Civic’s identity verification services to ensure that the publishers get paid in Basic Attention Token (BAT) through the Brave browser. The Civic CEO and co-founder stated, “Implementing Civic will enable more people to safely and securely utilize the Brave platform while establishing and sustaining trust between publishers and users.”