io.finnet, an innovator in blockchain and trustlessMPC solutions, announced today that its R&D team has successfully validated the proof of concept for io.ID, a revolutionary self-owned digital identity platform.Â
This achievement is a huge advancement in empowering individuals and organisations to fully control their digital identities, data, and credentials.
io.ID reimagines digital identity management by integrating cutting-edge technologies like decentralised identifiers (DIDs), verifiable credentials (VCs), and threshold signing via trustlessMPC.Â
The platform provides unparalleled security, convenience, and self-ownership, setting a new standard for identity management in the decentralised era.
“We are thrilled to have validated io.ID for launch, demonstrating the power and potential of self-owned digital identity,” said Luke Plaster, Chief Security Architect of io.finnet.Â
“Our R&D team has worked tirelessly to bring this vision to life, and we look forward to continuing to advance io.ID and make it a reality for individuals and organizations worldwide.”
The io.ID proof of concept showcases several key features that set it apart:
- Decentralised Identifiers (DIDs) and Verifiable Credentials (VCs): io.ID enables users to create self-owned identity records stored on-chain, giving them full control over their digital identity. Verifiable credentials allow users to prove specific attributes about their identity without revealing all information, enabling zero-knowledge automated compliance checks.
- Threshold Signing with trustlessMPC: io.ID leverages io.finnet’s trustless MPC technology to enable secure distribution of access to accounts across multiple devices and locations. This protects against robbery, device loss, and under duress situations, while ensuring always-on access and security.
- MPC digital signature based authentication mechanism: This mechanism ensures robust authentication and enhances the security protocols of the platform.Â
The successful validation of the io.ID proof of concept is a worthy success in io.finnet’s mission to bolster advanced technologies like MPC, blockchain, and self-owned identity.Â
io.ID is well-standing in its evolution to create a new standard across digital identity management, providing unparalleled security, convenience, and self-ownership.
