Use SSI, VC’s & VP to prove credentials to different Institutes in a privacy focused manner with zero knowledge proofs, and selective disclosure.
Privacy and Data Security Reduced Data Exposure: Users no longer need to disclose extensive personal information, minimizing the risk of data breaches or misuse. Enhanced User Control: Individuals have control over their data, deciding what information to share and with whom, reducing the chances of identity theft.
Streamlined Insurance Processes Simplified Onboarding: Account-abstracted wallets ease users into Web3 without dealing with complex private keys, making the transition to decentralized systems seamless. Efficient Verification: Verifiable Credentials streamline the process of providing and verifying necessary documentation for insurance policies, reducing administrative burdens.
Trust and Transparency Trust in Data Exchange: Employing Verifiable Credentials enhances trust between users and data requesters (like insurance companies or employers), ensuring the validity and authenticity of shared information. Transparency and Accountability: Users know precisely how their data is used and have recourse if any mishandling occurs, fostering accountability in data handling.
Regulatory Alignment Compliance and Data Regulation: By focusing on user privacy and control, your solution aligns with evolving data protection regulations, ensuring compliance and ethical data handling.
Links
Issue Encountered: During the project development, the Polygon ID Issuer experienced automatic database drops intermittently.
Resolution Approach: Immediate communication was established with the Polygon team to address this critical issue. They were promptly notified, and we provided detailed logs and specifics for their investigation. We are running our own issuer node for issuing and verifying credentials.
Issue Encountered: Engaging with Self-Sovereign Identity (SSI) terminologies posed a learning curve, requiring thorough understanding and application.