The digital identity startup is Hong Kong-based and was launched earlier in February 2016 by CEO and co-founder Katherine Noall, who previously worked for blockchain consulting company Blockzero. Its platform allows users to create a digital identity capsule “a bit like dropbox, that enables people to store their documents” said Noall, in an interview with One World Identity. Each user account is self-authenticated, as the company does not hold login details or other personal data.
Furthermore, identity documents are saved to a digital identity capsule and then they are encrypted and uploaded to the SAFE Network, a decentralized data management service. The mechanism for reporting identity data stored inside a digital identity capsule operates independently, using the Bitcoin blockchain.
ExistenceID plans to begin work with corporate beta customers in October 2017 and beta identity capsule accounts will be made available to consumers in November 2017.
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