Secure Identity Ledger Corporation, a digital identity platform for people, business or machine, has announced a preview of its blockchain platform and web portal in advance of its Token Sale. The SILC blockchain will be the entry point for individuals, government and companies to learn how digital ID data can be recorded, managed and distributed in a more equitable way.
With a goal of SILC will providing a first-ever turnkey digital ID system for consumers, including registration, authentication, verification and personal monitoring, the platform will provide individuals with a unique digital token that enables them to prove their identity to third parties. Rather than a Proof-of-Stake or Proof-of-Work model, SILC operates through a Verified Existence Algorithm in which both parties can exchange and confirm information through the SILC dashboard without it being recorded. SILC’s One Digital ID is cryptographically secure and unalterable.
Danny Lee, co-founder and board member of SILC, commented: “While governments and businesses have been driving development of blockchain technologies, consumers are poised to be the biggest users and winners of the blockchain. With One Digital ID on SILC blockchain, people can take back control of their online identity and protect themselves from the increasing number of breaches and attacks.”
Consumers who create their digital IDs now will receive one, encrypted digital ID in sync with the blockchain. One Digital ID is stored in pieces that when used in a transaction come together to form each individual’s own, unique pattern to validate their identity and complete an exchange or operation. Moreover, by building its own blockchain platform, SILC aims to avoid obstacles such as miners dictating fees or forking the chain. SILC has stated that the blockchain will always be accessible and supported and the impending bloat of the existing blockchains won’t impact its accounts.
Co-founder and board member, Quang Trinh said: “SILC aims to revolutionise the way personal information is managed, building trust among consumers and businesses in the Blockchain Age. SILC will provide One Digital ID for every person, so they can confidently and securely access healthcare, social assistance, academic certifications, voting and more. The time for One Digital ID is now.”