Identity & Data Management as it Should be in a Digital Era
As enterprises continuously digitize their businesses, there is an increasing need for security and trust built around digital identities. Current identification systems are siloed and enterprises are having major challenges to manage Personal Identifiable Information (PII) in an increasingly regulated environment (eg. GDPR). On top of that, privacy and control of their data is becoming a greater concern for users as well. Factor is using blockchain technology that allows users to authenticate to a website or other service with a secure cryptographic signing mechanism. No username or password will be necessary or required for the sign in process.
Factor is a blockchain based identity and access solution that allows users to take control of their identity and eliminates the risk for enterprises to store PII (e.g. risk of data breaches, and GDPR compliance). Delivered as a service, built on top of the Dragonchain platform, Factor Identity authenticates users to applications using public key encryption. Third party Factor Identity Providers confirm claims or factors about a user without sharing the actual data, it de-risks the storage of PIIs associated with users and data breaches.
- Determine where data will be stored, including the geographic region, and allow for tighter control over jurisdictions where nodes are operated.
- Keep data private and ensure it never leaves the private blockchain unless explicitly granted, or by including references to the underlying data (stored elsewhere) in the form of a hash value in the payload.
- Comply with requests to be forgotten. This is accomplished by removing the underlying data (“off-chain”) reference via a hash value.
- Filter access control to applications, providing selective exposure of specific factors.
- Eliminate liabilities, such as the retention of PII or other sensitive data.
- Prove you are over 21 without exposing your full Drivers License or Passport.
- Prove you reside in a particular region without exposing your address.
- Prove you have a valid email, without exposing the address.
- Replace identifiers such as a phone number or email address which were never designed to be safely used for logins
- Identification of devices (e.g. IoT devices) for trusted communication or firmware updates.
- Verify user’s information while eliminating the risk or exposure to too much personally identifiable information.
- Managing healthcare records with easy “transportability” without moving the data, conducting decentralized clinical trials.
- Easily implement a decentralized login or authentication system for any online login application (web, banks, social media, governments, universities).
- Access control based on one or multiple biometric factors (e.g. fingerprint, iris, facial recognition).
- SIM Swapping prevention.