November 1, 2023, Melbourne, Australia, Chainwire – A real self-governing Australian digital identity blockchain startup, ShareRing is pleased to announce that it is among the first in the sector to receive accreditation under the UK’s “Digital Identities and Attributes Trust Framework” (DIATF). This achievement is a major technological milestone for ShareRing and confirms the company’s dedication to safe, private, reusable digital identity identification.
With the certification in hand, ShareRing is now able to provide its digital identification solution for digital ID authentication along with ID verification for UK land registry needs.
Whether it’s for financial KYC and customer due diligence (CDD), ShareRing’s digital identification technology offers businesses an end-to-end solution to prove their customers’ identities across many different industries.
business identity management, venue and visitor management, or age and ID verification. Companies would use a web-based platform to handle their digital identification requirements, while their consumers would use the Identifi Me app to establish and manage reusable digital IDs, giving them total control over their personal data.
The DIATF is a comprehensive framework for creating safe and reliable digital identity ecosystems, and it is supervised by UK government bodies. In order to minimize the danger of identity fraud and cyber risks and to ensure the integrity, privacy, and dependability of user data, it lays out certain criteria, principles, and regulations that authorized businesses like ShareRing must adhere to Using blockchain technology (Tendermint PoS and Cosmos SDK), ShareRing’s self-sovereign identity solution creates a tamper-proof environment for both people and enterprises.
According to ShareRing founder Tim Bos, “digital identities are pivotal to removing friction from our everyday lives and drastically improving operational efficiency across all businesses.” “With the accreditation, ShareRing can confidently partner with public and private sectors in Australia and the UK. The UK leads the way in digital ID regulation.”
ShareRing’s solution guarantees that personal data is validated, stays under the user’s control, and is only shared with third parties when required and with express consent, in contrast to traditional identity systems that are prone to fraud and breaches. In the last year, ShareRing has collaborated with several private sector companies in Australia and abroad, substituting reusable digital identities for traditional KYC and customer verification procedures. In order to protect nightclubs, F&B establishments, hotels, and investment funds in Australia and the UK against identity theft, ShareRing will keep forming alliances with these organizations while streamlining operations and cutting expenses.