ClaimChain

One major topical issue that has generated a lot of controversy in the IT and the cyber security landscape is Secure Identity Management. In today’s ever growing world four main problems have arisen when it comes Digital Identity Management. Problem 1: About 1.2 billion people in the world live without documental proof of their existence. The other 6.4 billion have to fanatically guard these documents (passports, citizenship cards, insurance cards, student cards, school diplomas, and more) in order to avoid severe complications. Problem 2: Several agencies especially large ones have that duty of managing the identities of several users. This data is stored in multiple data silos with different defense mechanisms. The result is that, it creates multiple points of attack of the data (at rest or in transit) and also severe efficiency problems with sharing data. Problem 3: Governments in particular face this problem the most because an important function of government is to maintain trusted information about citizens and their activities. With current Identity Management Systems, it is inefficient and opens doors to identity forgery amongst other attacks. Problem 4: Users have little or no control of their data once it is in the hands of service providers..

ClaimChain is a self sovereign identity network that uses Distributed Ledger Technologies (BlockChain) and cutting edge cryptographic techniques to solve all these four problems while maintaining GDPR compliance. It works in collaboration with different Identity and Service providers acting as distributed trust anchors. **************************************************************************** The most promising business opportunity lies in significantly reducing costs in KYC process done by banks and service providers that require strong identification. ***************************************************************************** At ClaimChain 1. Distributed Ledger (Blockchain) is the backbone. 2. Data is the driver 3. Users are at the heart of our solution. With ClaimChain, verifying who you claim to be or what you claim to have happens in a matter of seconds. And for Service providers, knowing your customers just got easier. ************************************************************************** The video shown in this preview is a product of Microsoft's ID2020. We do not own any rights to the production of this video. It just accurately explains Problem 1. ***************************************************************************