ICONLOOP continues to make self-sovereign identity a reality.
The blockchain company announced Tuesday the launch of DPASS, a blockchain-based self-sovereign identity authentication service that uses the DID (Decentralized Identifiers) protocol based on ICON’s public blockchain.
An acronym for “Decentralized Passport,” DPASS is a mobile application that supports identity authentication and cryptocurrency wallets regardless of borders. The service allows users to store private information and log into various services without having to repeatedly enter said private information. DPASS prevents third parties from taking the private information stored in it without permission, giving users the power to manage their information and data themselves.
All private information, including private keys, are stored in a decentralized manner, enhancing security.
Moreover, DPASS complies with W3C standards, allowing for greater expandability.
You can already use DPASS with ICONLOOP’s blockchain-based certification service, “broof,” to store blockchain-based certificates immune to fraud and tampering. According to ICONLOOP’s press release, the DPASS service will align with other online and offline services, too. ICONLOOP has been talking with ICON’s partner companies so that, hopefully, you may be able to use DPASS with DApps running on ICON’s public network.
“Users will be able to see how revolutionarily easy it would be when DPASS is aligned with various services and users can log in with one blockchain ID on those services,” said ICONLOOP CEO Jonghyup Kim. “ICONLOOP is making utmost efforts with many partners to launch blockchain-based services that can be used easily and conveniently in real life. I hope you look forward to it.”
The blockchain space has taken a great interest in self-sovereign identification, a potential application of the technology that could prove disruptive.
Just last month, ICONLOOP’s “my-ID” identification solution was included into Korea’s Financial Services Commission’s “Innovative Financial Services and Regulations Sandbox”, one of only a handful of blockchain applications so honored. In an interview with local media earlier this month, Kim himself discussed the benefits of decentralized IDs, noting that ICONLOOP was giving priority focus to the sector.
A Samsung-backed consortium involving major financial entities and telecom companies also recently announced it would develop a blockchain-based decentralized mobile ID solution. Fujitsu Laboratories and Microsoft have released blockchain-based decentralized ID products too.
There’s good reason to stay focused on self-sovereign ID technology.
“[Self-sovereign IDs] could remove the involvement of intermediaries ― mostly government-certified or publicly run entities that manage personal data ― thereby enabling individuals and organizations to assert their identity in online transactions,” wrote Darryn Pollock in Forbes last week.
“The prize for Samsung, Microsoft, Civic and any other company, on any scale, chasing this innovation is enormous as many feel a decentralized blockchain-based identification system is one of the top applications for blockchain currently. Thus, being first to market with such a system would be a massive boost for the company rolling out this revolutionary new way to identify oneself.”