Concordium unveils Web3 ID: a cutting-edge identification platform offering age verification capabilities designed to prioritize user privacy for both individuals and businesses.
Concordium’s age verification tool aims to protect minors online amid growing global concerns over privacy and explicit data collection from technology organizations.
Web3 ID leverages Concordium’s zero-knowledge proof technology to deliver a new approach to age verification – without ever compromising user data or privacy. By uploading a government-issued ID to their wallet, Web3 ID users can significantly reduce the amount of data they disclose during online identity verification, regaining control of any sensitive information.
Mikael Breinholst, Head of Product at Concordium, addressed the widespread concern over existing online age verification tools, saying: “Current online age verification tools are a serious area of concern for many. Age-restricted sites have little to no barrier to entry, exposing underage consumers to a world of adult-themed content. Blockchain technology, and in particular Web3 ID, allows companies to request proof of an individual’s age, without storing their data or selling it to advertisers. With Web3 ID, users maintain autonomy and security over their personal information while benefiting from the security inherent in blockchain technology.
Concordium’s built-in identification layer and zero-knowledge technology ensure that a user’s online identity is verified in a secure and decentralized manner, while maintaining privacy. Only strictly relevant information is requested from users when transacting on the Web3 ID platform, while unrelated details are kept on a decentralized wallet.
Web3 ID users also benefit from increased transactional security thanks to Concordium’s compliance-friendly technology. As a result, individuals and businesses have complete control over their information, effectively combating data ownership issues associated with existing centralized systems.
Kåre Kjelstrøm, CTO and CPO at Concordium, commented: “Concordium’s Web3 ID is intuitive and easy to develop, providing seamless usability while being cost-effective, reducing online identification processes. In addition to preventing children from accessing age-restricted sites, Web3 ID is capable of sharing specific medical information without the recipient having access to an individual’s entire medical history, prove a user’s driving credentials or simply ensure that the user’s data is authentic and not the user’s. robot results. This model addresses many of the identity security gaps caused by big tech’s data monopoly.
Creating a new age verification standard advances Concordium’s mission to support a regulated future for new and existing organizations leveraging blockchain technology. This achievement follows recent partnerships such as AI service provider 2021.ai and carbon offset management platform Aqualibre.