IDWorks believes Self-Sovereign Identity is the solution to global identity fraud
Decentralised identity tech offers the chance for a paradigm shift for the global digital economy as the world moves from paper to digital
IDWorks, a wholly-owned portfolio company of global innovation group 20|30, has appointed Ankur Banerjee as Head of Engineering. In this newly created role, Banerjee leads IDWorks team of technologists who are developing advanced Self-Sovereign Identity (SSI) solutions to tackle the rapid rise in identity fraud as the world moves from paper to digital.
Banerjee joins IDWorks fromAccenture where he was the Solution Lead for Accenture’s UK BlockchainTechnology practice and Digital Identity practice. An active industry participant in driving digital transformation in financial services, he was the former Chair of the Digital Identity Infrastructure Working Group of trade association, TISA UK.
“Ankur is one of a very small pool of people globally who are considered a subject-matter expert onSelf-Sovereign Identity, biometrics and blockchain tech architecture,” notes Tomer Sofinzon, CEO and Founder of 20|30 Group. “He not only has extensive experience of SSI projects across Corda and Hyperledger, from proof of concept through to product; he is an entrepreneur who cares passionately about how decentralised technologies can transform societies for the better.”
Discussing the future of digital identity, Banerjee said: “The internet has never had a global standard for digital identity that is transparent and protects the rights of users, while offering organisations a secure and compliant way of processing their information. What the industry has today is effectively the equivalent of shuffling around copies of paper forms – sometimes, this is literally the case.Decentralised identity offers the chance for a paradigm shift for the global digital economy. I’m proud to take the technology reins at IDWorks and it is our goal to set the new global standard in digital identity technology.”
20|30 Group’s Sofinzon adds: “IDWorks is to identity, what Uber is to transport, or Airbnb to accommodation. They are building solutions which have the potential to substantially reduce identity fraud in all sectors, from financial services through to telecoms and taxi-hailing companies. As well as super-charging IDWorks’ existing SSI technology, he will have the freedom to explore creative ideas and other innovations in blockchain and artificial intelligence services. We are very proud to welcome him to our fast-growing and ambitious team.”
IDWorks is an identity management specialist headquartered in London. The company’s ground-breaking new SSI solution is called Envoy. An enterprise-grade decentralised application designed to issue, consume and revoke verified credentials. Envoy operates within the permissioned, private and scalable R3 Corda distributed ledger technology, incorporating the benefits of blockchain, with additional attributes demanded by financial institutions and other large corporates. It can be easily incorporated into a company’s existing apps or operational infrastructure, allowing organisations to continue to hold and capture relevant identity and profile data about clients and their customers for regulatory, commercial and operational purposes. To learn more about IDWorks and its SSI solutions, visit www.idworks.io.