Insights Network, Jumio to streamline INSTAR Wallet onboarding experience

Tuesday 10 April 2018 00:27 CET | News

Insights Network, an EOS blockchain-based data exchange, and Jumio, the AI-powered identity as a service provider have partnered to streamline the INSTAR Wallet onboarding experience.

With this partnership, the companies aim to reduce the friction associated with customer account setup, while securely authenticating users and providing them with a blockchain passport - a digital proof of authenticity that can be used across the blockchain. Once authenticated, Insights Network enables individuals to securely own, manage and monetize their data through a combination of blockchain technology, smart contracts and secure multiparty computation.

Every INSTAR Wallet user is required to undergo an onboarding process that includes identity verification. Jumio will provide real-time KYC/AML-compliant ID verification for users of the Insights Network INSTAR Wallet, removing the need for users to verify themselves every time they use the data exchange.

The Insights Network solution uses secure multiparty computation to facilitate the exchange of data with blockchain smart contracts. These contracts ensure the transfer of funds and record a proof of consent in the ledger. Insights Network user data is stored locally on the users device or in a distributed web format which is the new gold standard for consumer data storage and could prevent future data theft incidents.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Insights Network, Jumio, INSTAR Wallet, onboarding, KYC, blockchain, identity verification, authentication
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions