Distributed Ledger Technology

Lack of control over the fate of personal data is a growing concern. Depending on which study is cited, 60-80% of people worry about their data being sold to third parties and used for non-consensual reasons. And while regulation such as GDPR reflect these growing concerns, companies‘ data policies and technology are still playing catch-up.
From a user experience perspective, the typical internet user is forced to maintain a myriad of different identities and is forced to trust centralised guardians of data, who have failed them many times in the past. For companies and governments, many identity-based processes such as those for government visas or KYC systems in banking still require manual verification.

Why DLT?

Distributed ledger technologies (DLT) such as blockchain can solve the above problems by giving consumers self-sovereignty over their digital identities. Through an indisputable, decentralised ledger, DLT facilitates third party verification while conserving consumer privacy, minimises the potential for hacks while reducing the need for middlemen.

A distributed ledger based digital identity solution can improve your operating efficiency, improve data compliance and reduce potential for fraud – all while offering a better, more transparent user experience for your customers. Talk to us to find out where to start!