Highlights:
- DICE ID service enables to verify and issue the credentials with the help of self-verified, tamper-proof digital certificates.
- By syncing blockchain technology with encrypted wallet that stores personal user data, DICE enables users to determine the type of information they want to unveil in digital settings.
Wipro Lab45, the innovation lab of Wipro Ltd., a technology services and consulting firm, announced the launch of its newly coined Decentralized Identity and Credential Exchange service that uses blockchain technology to offer users full authority over their personal information.
DICE ID, the new service, enables verification and issuance of the credentials with the help of self-verified, tamper-proof digital certificates. Personal data from certificate issuers is stored and encrypted by the platform in an “identity wallet” and its control can be accessed by the users so that they can ascertain the confidentiality of their information.
Subha Tatavarti, Chief Technology Officer at Wipro, said “Current online identification relies on the use of single sign-on services, requiring users to share personal data with multiple third parties. DICE ID gives the power back to the individual, making it easier and safer than ever to manage sharing of personal data on digital platforms.”
Blockchain technology distributes single ledger’s multiple copies over a number of nodes to cater cryptographically secured transactions. It generates a secured historical record of all transactions on the blockchain network.
By syncing blockchain technology with encrypted wallet that stores personal user data, DICE enables users to determine the type of information they want to unveil in digital settings. They can also interrupt the access to information anytime.
Wipro tailored the solutions for specific clients in September which is already implemented across multiple use cases such as fintech, education, healthcare, metaverse applications, and government.
The crowdsourcing communities and colleges used the service to generate talent exchange for freelancers and students via portable skill credentials. Financial institutes use DICE to coordinate user content and share information for regulation and compliance while safeguarding confidentiality and privacy over their platforms. Moreover, metaverse platforms use the service to build communities via avatars and pseudonymous identities.
Such wide range of utility is viable because DICE is designed to comply with authentic open data model of the World Wide Web Consortium, which makes credentials interoperable and machine-readable. Hence, communities, protocols, and enterprises can safely exchange DICE credentials by adhering to the standards.
Over the years, a large number of companies have been exploring decentralized identity management with the help of blockchain technology. In 2018, Microsoft announced plans for its solution. Other major solutions include ShoCard, acquired by Ping Identity; Jolocom’s identity solution, in compliance with the European Union General Data Protection Regulation; and Dragon Factor, the Walt Disney Co.’s spinoff that incubated blockchain Dragonchain Inc.
Tatavarti mentioned “We believe decentralized identity and verifiable credentials technology will become a game-changer resulting in a metamorphosis of the identity space.”
