Tokyo, August 28, Dai Nippon Printing Co., Ltd. (DNP) will begin offering the DNP Decentralized ID Management Platform from August 28th, 2024. The platform will manage Verifiable Credentials (VC)¹ that administer individual ID in the form of Decentralized ID (DID)²-based digital credentials.

Consumers can use the platform to actively manage ID information and autonomously disclose their personal information to companies and organizations while protecting their privacy. At the same time, companies and organizations will be able to prevent damage caused by disinformation and reduce the burden of having to verify presented information, enabling safe and secure data distribution.

DNP will be in a position to provide companies and organizations promoting VC-related businesses with the necessary functions to match planned uses and environments. Such functions include VC issuance and verification systems, and digital identity wallets, as a mechanism allowing consumers to verify their identity via smartphones where consumers used to manage VC. 

For further information, please visit:https://www.global.dnp/biz/solution/products/detail/20175557_4130.html

DNP VC Usage Vision

Development

In recent years, with the rapid development of technologies such as generative AI and the revitalization of international exchange, privacy risks such as data tampering, leakage, and “spoofing” have become social issues, leading to demands for safer and more secure data distribution. To this end, VC–driven verification experiments are being conducted in countries around the world. The Japanese government is also working on the Trusted Web³ as a new reliable framework. 

In response, DNP has developed DNP Decentralized ID Management Platform and will commence the provision of the service to support the creation of safer and more secure data distribution.

Platform Features 

1. Compliant with international technical specifications, enabling integrations with domestic and international services

The new platform complies with technical specifications currently being considered throughout the world in order to achieve more reliable global data distribution, making it possible to use VC both domestically and internationally. 

Meeco is an Australian company with a proven track record and network in the development of digital identity wallets, as well as VC issuance and verification systems. DNP is partnering with Meeco on this project, and has received a technology transfer. The two partners are also working on international verification experiments⁴ and network construction, beginning with Australia. 

2. Supporting the launch of DID businesses from both rule-making and technology development 

DNP has been selected for participation in the Use Case Demonstration Project for the Realization of Trusted Web⁵ by Japan’s Digital Agency for two consecutive years from 2022, and is working on verification experiments involving VC-related application development with Japanese companies. We play a supporting role in defining VC issuance and verification requirements and organizational operation systems, and are accumulating technology and know-how targeting the social implementation of DID. 

3. Providing programs of DID required knowledge in a variety of occupations

 DNP will also provide educational programs on DID to companies and organizations that use the new platform. In collaboration with Indicio, a US company with expertise in DID, we will provide basic knowledge regarding DID and offer the Indicio Academy educational program for executives, new business development personnel, and system developers.

Going forward

DNP will provide the decentralized ID management platform primarily to industries expected to adopt DID, such as those in the fields of finance, communications, travel, automobiles and education. We aim for cumulative sales of 3.5 billion yen by FY 2029, including related products and services.

1: Verifiable Credentials (VC): A verifiable digital credential and data model proposed by The Internet Engineering Task Force (IETF), an international technology standards organization.

2: Decentralized ID (DID): A framework whereby individuals, or alternatively, corporations or devices, have control over their own identity information and can safely share it with others as needed, rather than centralized management that consolidates IDs on a limited number of servers. 

3: Trusted Web: A concept proposed by the Trusted Web Promotion Council of the Headquarters for Digital Market Competition at the Cabinet Secretariat. The concept is related to "a mechanism that guarantees the reliability of data circulating on the web through verifiable data, without relying on specific platforms or services."

4: For further information about DID connection tests, please visit https://www.global.dnp/news/detail/20175234_4126.html

5: For further information in Japanese about verification tests involving the Digital Agency, please visit https://www.dnp.co.jp/news/detail/20173680_1587.html

* Company and product names mentioned in this report are the trademarks or registered trademarks of the respective companies. 

* The content of this report is current as of the date of publication. It may be changed at any time without notice.