Gemalto and R3 Tech to help users control their Digital ID
To put users in control of their Digital ID, Gemalto is teaming up with R3 Tech. According to the Gemalto website, their Trust ID Network enables users to have a control over their personal data- to whom it is sent and when it is sent.
Its omnipresent ‘self-sovereign’ identities will allow on-boarding at different online services more secure and private.
It is also mentioned on the website that financial institutions offered a unique opportunity to launch decentralized ID schemes.
“By creating and managing their own ‘Self-Sovereign’ Digital ID, users can enroll with a host of different digital banking, eCommerce and eGovernment services, without having to go through repeated due diligence processes for each of them. This innovative distributed approach to Digital ID management enables service providers to leverage ubiquitous identities certified by trusted parties whilst putting users firmly in control of their data,” said the website.
On the latest version of the Corda Platform built by R3, Gemalto positions its Trust ID Network application and data protection solutions.
R3 is pleased to collaborate with Gemalto: CEO
David E Rutter, CEO, R3 expressed his happiness in collaborating with Gemalto on the Trust ID Network.
“Empowering customers to manage and control their own digital identity based on blockchain technology is nothing short of revolutionary and we’re very pleased to be collaborating with Gemalto on the Trust ID Network. The Corda platform’s unique privacy features offer the ideal basis for a secure, easy-to-deploy decentralized ID management platform,” said Rutter
Bertrand Knopf, EVP Banking and Payment, Gemalto explained in the statement how Trust ID network solves the weaknesses of the traditional identity frameworks.
“Trust ID Network solves the profound weaknesses of traditional, ‘siloed’ identity frameworks: the clumsy user experience, rising costs, and difficulties in complying with stricter regulations. It’s the perfect illustration of Gemalto’s ability to combine proven Digital Identity solutions and new technologies such as the blockchain. Financial institutions are best-placed to lead this self-sovereign identity revolution, but it will prove similarly attractive to a wide array of other service providers,” said Knopf.
Image via Shutterstock
Join our Telegram group