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August 4, 2021
With changes underway in digital identity, IDENTOS Inc. prepares customers by supporting W3C Verifiable Credential technology.
Toronto, ON – August 4th 2021
IDENTOS (“IDENTOS Inc.”), a leader in digital identity and access management, today announced a powerful new product feature in development that offers organizations the ability to prepare for advancements in digital identity: W3C verifiable credentials.
As the work for digitizing identity continues to take form, a new technology shift is coming to how organizations, services and citizens will interact online. This change puts the citizen in more control of their identity and data. It provides for an individual to hold their credentials digitally and present them to service providers as they choose. Even without any previous relationship, the technology provides a mechanism for making a trusted handshake at run-time for the service provider to verify the identity of the citizen. This is being solved at scale with W3C verifiable credentials.
Naturally, this has a number of businesses and public organizations already preparing for what’s ahead. To ensure customers stay ahead of the curve, IDENTOS is enhancing their Federated Privacy Exchange (FPX) platform by end of year to help support customer requirements to enable verifiable credentials as part of their identity strategy.
The Problem
Currently, existing services rely on siloed access scenarios which require costly integrations to connect and often lead to poor user experience. Decentralization and interoperable access ensures that users can prove who they are and share their data to receive the best service without worrying about differences in technology.
Rather than trying to paste everything and everyone together, the path forward to help build trusted ecosystems relies on interoperability and leveraging existing assets while positioning the user in a disintermediated model of control and agency -- possible with FPX and verifiable credentials.
What are Verifiable Credentials?
An open standards based solution that allows users to securely hold and share data themselves without the need to create or manage new accounts or passwords. Organizations benefit through user interaction and avoid having to invest in direct integration or agreement cost.
Benefits of Verifiable Credentials
-For citizens: Citizens can easily and securely share their data through the convenience of mobile devices with the services they require.
-For government: Organizations can trust that the user and the data are genuine and they can also offer capability to enrich and add to what the user has through correlation with existing systems of record.
"In today’s healthcare context, digital identity is here. Patients are interacting across multiple organizations in journeys of connected services, transcending care paths and providers. They will soon show up with a digital wallet and present a verifiable credential to authenticate themselves and our customers will need the ability to consume and evaluate that credential.
We’re making the investment to ensure our customers are prepared.
The evolution towards verifiable credentials is also important for enabling trusted access at scale by citizens to public and high trust services in Healthcare, Education, or Finance.” – Mike Cook, CEO, IDENTOS
Find us at HIMSS21! More info here.