ShoCard, Creditinfo to protect PII using blockchain tech

Thursday 21 September 2017 00:43 CET | News

ShoCard, a blockchain-based identity management system (IMS), has integrated the Creditinfo app from Creditinfo, a credit information and risk management solutions provider.

The app enables individuals to claim their identity and obtain personal credit information that can be shared with any third party, as well as be independently verified with proof of certification using the blockchain. By integrating the ShoCard Identity Platform, Creditinfo enables consumers to share their credit information with financial institutions across borders.

Once the Creditinfo app is downloaded, the user is asked to take a photo of their passport, provide their identification credentials with Creditinfo, and save their information to create a validation record on the blockchain for the user.

Once the user’s identity is verified, signed and encrypted, credit score data will be passed to the consumer through the app, where it is also independently hashed, signed and certified on the blockchain by Creditinfo to verify the authenticity of the credit information passed to the user. The app will decrypt the data for the user’s viewing, and the user then has the option to share this information with other users or services using either a QR code or Bluetooth exchange.

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Keywords: ShoCard, ShoBadge, IMS, blockchain, identity verification, onboarding, username, password, online security, sensitive data encryption, Creditinfo
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions