PayPal-backed alliance for blockchain-based digital IDs begins beta testing

Source: IDKeep

LuxTrust S.A., a leading Digital Trust Services Provider in Luxembourg, and Cambridge Blockchain Inc., a pioneer in digital identity enterprise Software, announced the private beta-testing phase for privacy-protecting European identity platform IDKEEP.

Designed to resolve identity and personal-data related challenges faced by many digital service providers — such as banks and financial services, insurance, and healthcare, among others—IDKEEP is a huge step forward towards data ownership and control. The platform provides end users with full control over personal data and over sharing such data with services online, helping digital organizations to effectively manage consent as per GDPR rules and effectively manage validated users’ data, enabling trusted transactions online. In addition, IDKEEP opens a marketplace for data validators who can leverage a network effect of a large customer base, realizing efficiencies and re-use of expensive data validation processes.

IDKEEP was developed by LuxTrust in Luxembourg to augment the intrinsic value of existing digital identities which already take up the entire population of the country, and to foster a data-driven business ecosystem. With IDKEEP, LuxTrust combines its role of eIDAS Qualified Trust Services Provider, with a GDPR trusted third-party role. Supported by the Luxembourg State, one of company’s shareholders as well as a strategic partnership with InfoCert (Italy), IDKEEP leads the way towards a new age of digital identity.

IDKEEP has been showcased in Seoul, South Korea today, in presence of Luxembourg’s Deputy Prime Minister and Minister of the Economy, Étienne Schneider, thereby initiating a beta-testing phase. Étienne Schneider said: “With the introduction of its IDKEEP solution, LuxTrust shows off its skills and competencies when it comes to play a leading role as an innovation-driven company. The platform asserts LuxTrust’s position as a forerunner among digital identity providers. Technological developments like IDKEEP help to achieve the digital economy of tomorrow and contribute to Luxembourg’s reputation in Europe and beyond as a trusted data hub”.

IDKEEP platform runs on Cambridge Blockchain’s innovative blockchain-based enterprise software, a first-of-its-kind technology that gives users back control of their own identity by increasing data quality, re-usability, and trust. “After receiving investments from PayPal (NASDAQ:PYPL), Flourish and Omidyar Network earlier this year, we are pleased to continue our expansion to deliver the future of digital identity for Europe and beyond.” said Matthew Commons, CEO and cofounder of Cambridge Blockchain.

This announcement is an important milestone toward the resolution of digital identity challenges. IDKEEP is now signing up additional trusted parties and service providers.

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