DNP's Decentralized Identity Related Solutions
Why decentralized ID? How will decentralized ID affect your business? How should your company respond to decentralized ID? DNP, with its world-standard technology and know-how in the field of authentication and security, will support your company's initiatives for decentralized IDs.
Why decentralized ID?
Decentralized ID is a concept of digital identity management that is expected to become popular in the future.
Currently, our personal information is often concentrated and managed by large platform providers, who offer web search and social networking services. These platforms link our personal information with our online activity and purchase history to conduct their business. While this “centralized” management of personal information allows us to enjoy convenient and entertaining experiences, it also presents challenges such as the “risk of personal data leaks” and the “uncertainty of where and how our information is being used”.
Addressing challenges with decentralized ID
Decentralized ID is a system designed to solve these challenges.
With digital certification known as VCs(Verifiable Credentials), individuals can manage their personal data autonomously. As a result, individuals can protect their privacy while accurately disclosing personal information to companies and organizations as needed. Companies, in turn, can expect a reduction in the risk of accepting forged information and a decrease in the burden of verifying submitted information.
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Expectations for decentralized ID
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VCs submitted by users are automatically verified for accuracy on decentralized ID platform, thus reducing labor and equipment costs for visually checking submitted information and other tasks, as well as training costs for employees who handle personal data. |
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VCs are extremely resistant to data tampering. Even if a malicious user submits forged data, verification processes reject this data, reducing the risk of accepting forged data. |
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By issuing and verifying user credentials between different services, a cross-service ecosystem is created, ensuring the trustworthiness of users across the entire ecosystem. |
Use cases for decentralized ID
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Reducing clerical work overhead
For instance, by converting qualifications such as graduation certificates into VCs, the certificate issuance process for the responsible party can be simplified.
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Simplifying procedures
For instance, by authenticating a person and confirming an event ticket in advance, reception staff workload can be reduced on the day of the event, improving user experience.
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Creating ecosystems
For instance, by forming an ecosystem using safe driving data in VCs, individuals can utilize it for car insurance and rental car discounts.
Decentralized ID market trends
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Proactive studies in the EU have led to proof of concept testing by member states for the EU Digital Identity Wallet in August 2023, a system for interoperability with digital ID services such as administrative services, businesses, educational institutions, online transactions, electronic signatures, electronic prescriptions, and more＊1. Additionally, eIDAS＊2 2.0 member states are mandated to provide their citizens with a Digital Identity Wallet free of charge by 2026, accelerating the adoption of decentralized identifiers.
＊1 See: https://ec.europa.eu/digital-building-blocks/sites/display/EUDIGITALIDENTITYWALLET/
＊2 Abbreviation for Electronic Identification, Authentication and Trust Services, an EU regulation that establishes a framework for safer and more secure electronic transactions within the EU.
Scope of DNP’s support
Decentralized ID is a new concept that is expected to gain utilization worldwide, making it essential for platform providers to have advanced knowledge and experience in security.
DNP believes that international collaboration is essential at a time when research and proof of concept testing are being conducted around the world, and provides comprehensive support for companies wishing to engage in business using decentralized IDs, from acquiring knowledge about decentralized IDs to setting up a business.
DNP's decentralized identity management platform
Our Decentralized Identity Management Platform provides a one-stop solution for all your decentralized ID business needs, from building the foundational system for issuing and verifying VCs to offering digital identity wallet applications.
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Our platform complies with the technical standards being developed in the EU, where efforts are rapidly advancing to achieve highly reliable international data distribution. In developing this platform, DNP has received technical support from Meeco, an Australian company with extensive development experience, knowledge, and networks, and is engaged in proof of concept testing and networking between Australia and other countries. |
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For two consecutive years since 2022, DNP has been selected for the Use Case Demonstration Project for Realization of Trusted Web by Japan’s Digital Agency and is working with major Japanese companies on proof of concept testing, including use case studies. In these projects, we support the definition of requirements for issuing and verifying VCs, as well as the establishment of frameworks for organizational operations, allowing us to provide extensive know-how for implementation. |
Other DNP initiatives
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We are establishing the APDI Consortium in collaboration with companies connected to various governments, aiming for the safe and secure distribution of digital identities in the Asia-Pacific region. |
Identity Week Asia2024 DNP interview(6:53)
DNP participated in Identity Week Asia2024 held in Singapore. In the interview, Aoki from DNP answers questions about why DNP is entering the digital identity market and talks about the future vision of APDI. Please take a look.
News
Oct18,2024 Agreement to Establish Consortium to Create Economic Zone for Digital Identities
Aug28,2024 DNP Launches Platform for Building Decentralized ID-based Digital Credential Issue and Verification System
＊Information as of November 8, 2024.