A decentralized identity solution aiming to empower individuals to own their personal data in a digital wallet.
The Atala PRISM decentralized identity, DiD, solution gives users complete control over all forms of their personal data: from qualifications to library cards, from medical records to concert tickets, from passports to loyalty memberships. Users of Atala PRISM can choose who their data is shared with and reduce the amount of time they spend filling out long forms or completing lengthy identity verification processes themselves, and are able to do all of this right from their phone with just a few clicks.
Atala PRISM is used through a mobile app. A SmartCard is also in the works for users to store and share their digital credentials. Meaning that even those without a smart phone can use it.
How it Works
An ID provider, a government for example, issues an ID to an individual that contains a key that is linked to a key that they have anchored on-chain. The ID also has a unique identifier associated with the individual who owns it. This issued ID is kept in an individuals wallet on their smart phone where it is encrypted using their biometrics or a pin code.
The party asking for proof of identity verifies the key and unique identifier, delivered to them through a secure P2P channel, with the anchor key on the blockchain. This allows them to verify that the ID given to them is genuine, in a simple and decentralized manner. The verification is then stored on the blockchain enabling the individual to not need to share their data with the party again.
At any point the user can close the the P2P channel through which data is shared, keeping control of who has access to their records.
Benefits for Business of Government
The implementation of a DiD does more than just allow users to safely control their identity and reduce fraud. Atala PRISM DiDs have a whole host of benefits for business and governments too, including:
- One click onboarding
- Instant and reusable KYC
- Built-in regulatory compliance
- Instant registration for services and instant checkout for product purchases
- Provably secure digital verification
- A significant reduction in the administrative burden
- Third-party app compatibility
Many more use cases examples can be found here.