Called MyCUID, the system was created to protect credit union members from fraud and identity theft. It provides a portable digital identity intended to last a lifetime by sharing data person-to-person in network of distributed private agents in parallel with the distributed ledger. Identity owners can control how much data is shared in different contexts with selective disclosure.
Evernym developed technology for MyCUID with purpose-built identity distributed ledger Sovrin Identity Network. According to the company, Sovrin allows it to build technologies enabling any organization, individual, or device to have a permanent, potable, private and secure digital identity.
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