The Jolocom SmartWallet: a self-sovereign identity solution
Using blockchain technologies combined with linked data, we designed a self-sovereign identity solution so customers can sign in with a single click, complete with hard to get information like passport details, while keeping their data secure in their own data store.
The European GDPR coming into effect May 2018 requires personal data to be transferable to other providers in a common format, as well as giving users much more control over their own data. We use the social linked data standards as the foundational data structure for our solution. This means that user data is user owned by design.
The information you have access to about the user comes directly from a single source controlled by the user and verified by trusted parties, which gives you access to their data that is always up-to-date and trustworthy. Verification of this data is stored publicly on the Ethereum blockchain, allowing you to verify it without asking the user to do the validation process again.
Higher conversion rates
By eliminating the need for users to go through complicated registration and verification processes, we lower the barrier to accessing your services. This allows you to connect your users across multiple services faster. This makes your users happy and increases your conversion rates.
Since the user’s data always comes from them, you don’t have setup, maintain and secure the infrastructure to collect and hold these details. This will save you resources. Since the user’s data is verified, you don’t have to spend the resources to verify it.