SelfKey’s official statement regarding the recent KuCoin security incident.
Certifiers Platform – Strengthening the SelfKey Identity Ecosystem
Certifiers Platform, the 3rd major party in the SelfKey identity ecosystem, is now live on the SelfKey Desktop Wallet.
The Certifiers Platform was a long-awaited feature, and is a defining milestone for the SelfKey project.
At SelfKey, we focus on ensuring a privacy-preserving and user-centric identity management solution for our users.
With such an identity ecosystem, we are trying to equip our users with control over their personal data.
The SelfKey identity ecosystem primarily comprises three major components:
- Identity Owners
- Relying Parties
Users of the SelfKey identity management ecosystem are otherwise called Identity Owners.
Although a user’s personal data is their own sole property, this is often not the case in a centralized system.
Users are compelled to share their data for all kinds of actions, like opening a bank account or starting a business. The personal data shared by a user for these processes are often collected as part of KYC/AML regulations.
Even though KYC/AML regulations are a necessity to curb malicious activities, a user often does not have any control over what happens to their personal data once they have shared it.
The lack of control over shared personal data often leads to personally identifiable information being stored on centralized servers, which are often prone to data breaches.
SelfKey’s identity management ecosystem lets our users control and manage their personal data using the SelfKey Identity Wallet, and in the process, gives back control to the real Identity Owners.
Relying Parties are the second component that makes up the SelfKey identity ecosystem.
Relying Parties are essentially the third-parties that rely on verified information on the SelfKey network.
A Relying Party can be a crypto exchange, a bank, or a government agency that utilizes the verified status of Identity Owners.
If an Identity Owner has a verified claim on the SelfKey network, the Relying Party may allow that Identity Owner to use their services.
Hence, through the SelfKey network, a user can comply with KYC/AML regulation standards without sharing their personal data with a third party.
In effect, this allows the relying third party to approve a user request, with the knowledge that the user’s data complies with the KYC/AML standards they are subject to. They can do this by relying only on the authenticity of the verified information on the SelfKey network and without collecting and storing the personal data of that user.
SelfKey Marketplace lists all the Relying Parties that currently use the SelfKey network.
How can Relying Parties trust the Identity Owner information on the SelfKey network?
The answer to that question is the third major component of the SelfKey Identity ecosystem – Certifiers.
The SelfKey Identity Wallet is a free identity solution for Windows, Linux and Mac. Get yours today!
Certifiers are real-world notaries that help both Identity Owners and Relying Parties.
Certifiers act as a third party, neutral validators, attesting, and verifying identity claims raised by Identity Owners or users of the SelfKey ecosystem.
The Certifiers will verify the claims raised by Identity Owners by utilizing and cross-verifying the personal data shared by the Identity Owner through the SelfKey Wallet.
The personal data of the Identity Owner used in this process is not stored or retrieved by the Certifier, ensuring that the Identity Owner retains total control over the data shared with a Certifier through the Wallet.
Once the claims made by the Identity Owner are verified by a Certifier, the Identity Owner can then use this verified claim to access the services offered by a Relying Party.
In practice, Relying Parties only need to be sure of the verified status of a claim and do not need to collect or process the personal data of Identity Owners in order to make their services available to them.
Certifiers Platform is the latest addition to the SelfKey Wallet and helps users access Certifiers on the SelfKey network.
The Certifiers Platform has been a long-awaited component by both users and Relying Parties on the network. The Platform allows Identity Owners to verify and attest their personal data or documents with the help of real-world notaries for a standard fee.
Certifiers Platform can be accessed by navigating to the Notaries tab in the SelfKey Marketplace inside the SelfKey Wallet. Users can complete the claim verification by clicking on the “Notarize Documents” button for a standard fee for the notary.
Accessing the Certifiers Platform
Step 1: Download and install the SelfKey Desktop Wallet.
Step 2: Once the installation is complete, open the Wallet and select the Marketplace tab from the side pane.
Step 3: Inside the SelfKey Marketplace, open the Notaries tab to access the Certifiers Platform.
Certifiers Platform is a defining milestone for the SelfKey project and significantly strengthens the SelfKey identity ecosystem.
With the launch of the Certifiers Platform, Identity Owners can quickly verify and attest claims based on their personal data, and Relying Parties can then rely on these verified claims to provide their services to new customers without having to take possession of their personal data.
During these challenging times, remote onboarding for multiple services has become a necessity, and a complete online identity management and verification solution can significantly help both users and companies adapt to increasingly digital-based markets and societies.
With the launch of the Certifiers Platform, we are one step closer to offering our users a self-sovereign identity management ecosystem.