Teaming up with prominent UK FinTechs B-Social, Curve, Monese, and Seedrs to test decentralized identity with Onfido and Deloitte

At Evernym, we’re not reserved about saying self-sovereign identity (SSI) will change everything

SSI’s been called everything from the “New Internet” and “Blockchain’s Killer App” to the “Holy Grail,” and while the metaphors may be a little much, it’s hard to overstate the impact this new paradigm will have on making our digital relationships more trusted and secure.

At the same time, we’re just beginning to scratch the surface of realizing SSI’s true potential. Like the Internet, self-sovereign identity becomes more powerful through network effects. The more organizations issuing and verifying digital credentials and the more consumers using those credentials, the more SSI will become embedded into the fabric of our daily lives.

Adoption of SSI will be expedited through organizations, governments, and individuals coming together to explore the use of verifiable credentials to streamline the rollout of this latest variant of digital identity.

It takes governments (like the Province of British Columbia’s VON project and the U.S. Department of Homeland Security’s work on trust protocols), businesses (like Evernym’s 40+ Early Access customers and the 70+ Sovrin Stewards), local ecosystems (such as in Alberta), and open-source contributors (such as the many community participants at Hyperledger).

And today, we’re proud to announce another exciting public pilot, which brings us one step closer to widespread adoption.

As part of our membership in the UK Financial Conduct Authority’s Regulatory Sandbox, we’ve teamed up with participating tech leaders (Onfido and Deloitte) and four prominent UK-based FinTechs (B-Social, Curve, Monese, and Seedrs) to demonstrate how a portable, reusable self-sovereign identity can benefit both consumers and businesses in the UK and beyond.

A major goal of the project is to show the world that giving consumers control of their digital identities is good for everyone:

  • that businesses no longer have to choose between security and customer experience
  • that consumers can move freely and securely without entering a password for every digital service
  • that businesses can worry less about compliance costs and keeping up with ever-changing regulation
  • that no one can be denied for essential services for lack of access to a physical ID card

We’re excited to work in the company of these UK FinTechs dedicated to privacy and customer centricity, and we can’t wait to share the results of our pilots as we progress.

We’re starting with a few finance-focused use cases centered around enabling financial institutions to verify and onboard new accounts in a fraction of the time it normally takes, and to ensure accurate and secure data records, which should slash KYC and compliance-related costs.

In other words, we’re collaborating in pursuit of real proof that the future of digital interactions is self-sovereign—and that the technology is ready to make this future a reality.

Join the movement

If you share our vision, we’d love to work with you.

To get started, check out our Early Access Plan, where you’ll get the cutting-edge technology and tailored learning tracks needed to evaluate, test, and build self-sovereign capabilities. As an added bonus, you’ll also get access to an exclusive community of SSI pioneers, with whom you will be able to collaborate on industry- and use-case-specific initiatives.

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