Toronto-based SecureKeys digital identity validation service, which consumers can use via a mobile application, is set to launch in Canada by fall.Verified.Me is a client authentication tool and ecosystem that uses blockchain technology to verify user identities. Users can install an application, confirm their identity, and then use the application to present and confirm their identities elsewhere to speed up transactions with businesses, banks and government organizations.
SecureKeys partners in the Verified.Me project include BMO, CIBC, RBC, Scotiabank and Desjardins which collectively invested $27 million CAD in the project in 2016. Sun Life Financial also committed its support earlier this year.
[maxbutton id="1" ]
Verified.Me is being built in collaboration with IBM, using IBMs blockchain service. In turn IBM uses the Linux Foundations open source protocol Hyperledger Fabric v1.0.Speaking at the IdentityNORTH conference in Toronto, SecureKeys Chief Identity Officer, Andrew Boysen, announced the launch and confirmed his hopes that federal and provincial governments will also sign up to Verified.Me.The concept is you can choose to create a digital identity from the trusted relationships you have, like your bank, telco or government, said Boysen at the conference. Then you can use it across the [digital] economy. The potential use cases for the Verified.Me application are broad; from making payments, using banking and government services, to easily opening accounts, the application could also be used to demonstrate credibility to a landlord.Authentication and payment solutions company Ingenico Canada and Toronto developer Prodigy Ventures demonstrated a further use at the conference. A charity could display a large screen advert in a public place with a QR code, users can scan the code with the Verified.Me application and make an immediate donation.
Sun Life was the first North American insurer to join the project earlier this year as part of its focus on new digital capabilities.As we take the next step along our digital transformation journey, well soon be able to streamline and simplify the onboarding process for new Clients by using SecureKeys permission-based tools and Blockchain security to instantly verify personal information, said Mark Saunders, Sun Lifes Executive Vice-President.Sun Life also spoke at the IdentityNORTH conference giving a talk entitled Staying Ahead of the Curve with Blockchain. Sun Life is investigating distributed ledger technologies to improve provision for its customers.For SecureKey, the Verified.Me launch is much anticipated and will be one of the widest reaching applications of blockchain technology for everyday Canadians to date. If SecureKey can convince federal and provincial governments to sign up and accept Verified.Mes client authentication services, it could very quickly adopted by many more Canadian consumers.Image credit: Verified.me logo
Buy Bitcoin, Ethereum, XRP, and other cryptocurrencies on Coinsquare, Canadas premier trading platform.
[maxbutton id="2"]
