Providing One-Stop Solutions for Decentralized ID Business
DNP Decentralized ID Management Platform
Our Decentralized ID Management Platform provides a one-stop solution for all your decentralized ID business needs, from building the foundational system for issuing and verifying digital certificates (known as Verifiable Credentials: VCs) to offering digital identity wallet applications.
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Why Decentralized ID?
Decentralized ID is a concept of digital identity management that is expected to become popular in the future.
Currently, our personal information is often concentrated and managed by large platform providers, who offer web search and social networking services. These platforms link our personal information with our online activity and purchase history to conduct their business. While this “centralized” management of personal information allows us to enjoy convenient and entertaining experiences, it also presents challenges such as the “risk of personal data leaks” and the “uncertainty of where and how our information is being used.”
Addressing challenges with Decentralized ID
Decentralized ID is a system designed to solve these challenges.
With digital credentials known as VCs, individuals can manage their personal data autonomously. As a result, individuals can protect their privacy while accurately disclosing personal information to companies and organizations as needed. Companies, in turn, can expect a reduction in the risk of accepting forged information and a decrease in the burden of verifying submitted information.
In the EU, where preliminary discussions are already underway, member states of eIDAS2.0※1 are required to provide a digital identity wallet (EU Digital Identity Wallet) to their citizens free of charge by 2026. It is anticipated that companies in Japan will follow suit in the near future.
※1 Abbreviation for Electronic Identification, Authentication and Trust Services, an EU regulation that establishes a framework for safer and more secure electronic transactions within the EU.
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Benefits of Decentralized ID
The implementation of decentralized ID is divided into issuers and verifiers, each with its own set of benefits. Companies can choose to act as issuers, verifiers, or both, depending on their needs.
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Issuer
Companies that want to issue digital credentials online:
・To reduce labor and infrastructure costs associated with credential issuance
・To decrease human errors related to credential issuance
・To automate credential issuance online to enhance customer experience
・To receive incentives each time VCs issued by the company are verified
Verifier
Companies that want to verify digital credentials issued by others online:
・To reduce labor and infrastructure costs associated with credential verification
・To decrease human errors related to credential verification
・To mitigate risks associated with accepting fraudulent or tampered personal information
・To avoid receiving unnecessary personal information for service provision
・To fasten verification processes, improving customer experience
Holder
Individuals who utilize VCs:
・To simplify procedures
・To reduce risk of losing original identification documents
・To lower risk of identity theft
Overview of the DNP Decentralized ID Management Platform
While decentralized ID offers numerous benefits to both individuals and companies, it is a complex concept that requires advanced authentication and security technologies. Therefore, choosing the right partner is crucial when integrating decentralized ID into your business.
We provide all the necessary functions for decentralized ID business in a one-stop solution, including digital identity wallet applications and the foundational systems for issuing and verifying VCs. This allows you to quickly embark on your decentralized ID business.
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Strengths of DNP
1.Compliance with international standards and integration with domestic and international services
Our platform complies with the technical standards being discussed in the EU, which enables the use of VCs both domestically and internationally. Additionally, we are committed to international collaboration, sharing global trends and information.
2.Support for business launch through both technology and framework establishment
We are currently working with major Japanese companies on proof-of-concepts, including use case studies. In these projects, we support the definition of requirements for issuing and verifying VCs, as well as the establishment of frameworks for organizational operations, allowing us to provide extensive knowledge for implementation.
3.3. Proven track record in authentication and security
DNP has a long history of handling personal information and has extensive experience in solving challenges in the field of authentication and security, as well as world-class technology and market share in IC cards.
Use cases for Decentralized ID
Finance
By converting information data, which has been rigorously verified by banks, into VCs, it is expected to reduce the time and effort for individuals when accessing their bank services and prevent unauthorized access. Additionally, this technology can simplify procedures that require personal information verification, not only for financial services such as insurance, securities, and loan applications but also for services such as hotels and car rentals.
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Travel
By creating travel VCs based on passport data, travelers can smoothly prove their nationality and purpose of travel using the digital wallet on their mobile devices. Additionally, combining this with biometric information can simplify services such as immigration checks, hotel check-ins at travel destinations, and car rental applications.
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Education
By converting degrees into VCs, universities and companies can automate the entire flow of degree issuance and verification online. Companies can also convert educational records and work experience into VCs for their employees, which help understand their skills and reducing the risk of unqualified employees taking on specialized tasks.
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Automotive
VCs can be issued not only to people but also to objects. For example, issuing VCs to cars can enable automatic verification of records such as inspection, accident, and repair, while preventing data tampering.
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Implementation process
1.Consultation and assessment
Let us hear your challenges and requirements in personal information management to determine if they can be addressed through the issuance and verification of decentralized ID.
2.Use case proposal
We will propose specific use cases for utilizing decentralized IDs, along with the implementation costs and schedule.
3.System development
We will develop the system necessary to realize the proposed use cases in a one-stop solution. For companies seeking a deeper understanding of decentralized ID, we offer the Indicio Academy educational program.
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