2.1 E-identity
Source.ID solution
Context
E-identity is an online identification system that provides an easy, secure, and reliable way for residents to identify themselves when they interact with public authorities and other e-services. The e-identity system is also designed to be fast and interoperable across the boards so that residents can use the same e-identity when accessing services in different countries. This makes it easier for users to access country services in any country without tiresome KYC verification processes.
In the case of on-chain KYC (Know Your Customer) and AML (Anti-Money Laundering) solutions, E-identity can be used to verify a customer's identity, track their activities, and ensure compliance with government regulations. It works by verifying information such as name, age, address, and other personal details using ZKP (Zero Knowledge Proof). Once the identity is verified, it can be used to track transactions on the blockchain and provide a secure way to conduct business. Additionally, E-identity can also be used to store private data in a secure manner, allowing companies to protect their customers' personal information.
Introduction
Source ID is an on-chain legal identity protocol more than just for KYC/KYD but also provides proof of identity as a service (PoIDaaS), Proof of ownership, tracking and tracing Intellectual property management, etc. It is particularly useful for people who do not have a legal identity but have access to a smartphone. This protocol can be used to manage the entire asylum process, including trusted data sharing, identity verification, and ownership authentication. Source ID provides a secure, convenient, and cost-effective solution for asylum seekers and those in need of assistance. Additionally, it helps reduce the risk of fraud and identity theft, while also simplifying the process of monitoring the movement of people and goods.
Source ID solutions provide a secure and reliable way to establish and verify digital identities. This includes issuing E-IDs to people who do not have a legal ID, as well as registering and authenticating property rights. Soul Bound token uses a Zero-Knowledge Proof verification process to verify identity without viewing any sensitive information, as well as offering built-in AML and KYC solutions with an interface standard. Furthermore, digital signatures for universal authentication and tamper-proof credentials are also available. With blockchain infrastructure, the process of verifying digital identities is made secure, reliable, and transparent. This can also be implemented in the process of identity verification for land and property sales in order to raise funds for development.
Use Case
This is an example use case of a Source ID, according to a specification of the Verifiable Credential of the PDA1 document used by Posted workers in Europe which require this document as proof of their insured status, there are 112 countries that increase mobility among EU member states.
PDA1 Nationality Type
Workflow
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