Jolocom GmbH, a digital application provider that uses blockchain technology for proof of identity, announced on Sunday the launch of its SmartWallet 2.0 solution, a new version of its general regulation-compliant digital asset storage and identification application on European Union data protection.
To maintain compliance with the GDPR, digital identities stored in the app must provide a simple and verifiable way for users to opt out of businesses that collect personally identifiable information.
Using distributed ledger blockchain technology to provide identity management, users can store their identity documents on their device, control who can view their documents, and understand how their identity is used.
No one – not even Jolocom – can access the data without authorization. And the authorization can be revoked at any time.
“The way we share identity data is often overlooked,” said Joachim Lohkamp, founder and CEO of Jolocom. “Jolocom takes a forward-looking approach to identity management that helps journalists, businesses and governments, among others, use identity solutions for a digitally native world. “
Every time users sign up for a new website, they fill in information about themselves, spreading their personal information to new entities where they end up losing control.
Jolocom’s wallet allows users to store their identity documents on a device and share them with an auditor authorized by the government to provide document certification. After that, the document no longer needs to be shared.
For example, does a website need to know that a user is over 21? The user can authorize a verifier through the Jolocom wallet to confirm and this transaction can take place without this website ever viewing the document. User confidentiality remains paramount and only the necessary information is exchanged.
Finally, if users wish, they can delete their documents and permissions at any time. Since their ID documents and verification are completely under their control, they can do so without fear that a business entity will have a copy of their ID.
“Jolocom’s SmartWallet 2.0 is not only GDPR compliant today, but it can also adapt to future use cases such as e-government credentials, COVID passports, gym memberships and more. Said Lohkamp.
Jolocom has created a program for Belgian citizens interact with businesses via e-government credentials and access academic events. The holding company also participated in a program to showcase its use for decentralized carpooling with the official launch of Xride by Telekom Innovation Laboratories.
SmartWallet 2.0 also supports Battery, a platform for creating decentralized applications on the Bitcoin blockchain. This allows developers to inherit the security of the Bitcoin network for their own applications and use them on Jolocom’s wallet.