Speaking at the Innovate Finance Global Summit in London, Hub Culture announced it is expanding the HubID™ digital identity system, activating new profile networks for merchants, business entities, objects, bots and virtual personas through HubCulture.com.
The new profile types allow Hub Culture members and Ven digital currency users to maintain digital identity and digital currency accounts among an expanded ecosystem of highly flexible segregated accounts - all with unique capabilities. The enhancement creates a grid for many new types of Ven related transactions.
For entities and merchants, members can now launch company and merchant profiles to enable Ven payments between the entity and others, without an email or phone number but linked to a beneficial owner. The system forms the backbone of a new business-to-business capability for trade finance and institutional trading using Ven. For example, a beneficial owner can obtain company verification and enable that company to send and receive Ven, build a network of stakeholders and more. Merchants, Brokers and Financial Services Providers now enjoy enhanced membership options and the ability to manage these accounts with multiple stakeholders or administrators.
In the world of IOT, bots and machines, Hub Culture is focusing on ‘object oriented networks’, beginning with planes, boats, vehicles (including bicycles, surfboards and automobiles) electronic devices, and appliances. Each device type enjoys unique verification attributes, and is represented in the network under the control of the owner. In addition, bots, artificial intelligence and virtual reality avatars can now also be linked into the system, allowing users to build connections and profiles for virtual personas valuable to them. The system will debut this summer in Bermuda at the Hub Culture Innovation Campus and Beach Club, with visitors and members attending the 35th America’s Cup able to use their yacht, plane or surfboard as a wallet to pay for day passes, drinks, tickets, memberships and other onsite services at the Beach Club via the Hub Culture app.
Zeke.ai, Hub Culture’s emergent intelligence project, is referencing object identity attributes in digital vaults where data ownership is maintained by the end user to begin mapping common standards for entity and object identities to make it easier to scale such networks in the future.
The expanded HubID system is built on a foundational set of new, open APIs Hub Culture developed with support from the Bill & Melinda Gates Foundation Global Grand Challenges, a programme designed to foster innovation and solutions in the world of financial inclusion. The open APIs allow developers to deploy digital identity and digital currency services to wider audiences, and complement the Ven app, which offers digital currency payments in 13 local languages, including Urdu, Chinese, Arabic, Turkish and Swahili, among others. Banks and financial institutions can access the APIs through http://api.hubculture.com
The new profile types can be managed through HubID.me and HubCulture.com, and are being rolled out for members with expanded functionality through the Ven and Hub Culture mobile apps available in IOS and Android online marketplaces.