Insights Network, Jumio to streamline 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.