The common need to exchange personal data among agencies poses many challenges. WeIdentity offers a safe and efficient solution for identity authentication and data cooperation based on blockchain. Following W3C DID specifications, WeIdentity is a universal solution for decentralized identity management and trackable data sharing to address problems such as siloed data and data misuse.
WeIdentity is an open source solution developed by WeBank and built on top of Open Consortium Chain. As a member of the Decentralized Identity Foundation (DIF), WeBank also regularly engages with the international community to develop the foundational components of a decentralized identity ecosystem.
The Blockchain Solution
WeIdentity is a solution for decentralized identity management and standardized data exchange, which allows digital identity registration, authentication and management, as well as cross-institutional data sharing in a trusted and compliant manner.
Verify a credential on blockchain in three steps:
Register a WeID
Register a universal ID for a person/an entity on the blockchain.
Create a credential
The digital form of a paper credential on the blockchain, hashed and e-signed.
Endorse a verification
User authorization proof is stored on chain for GDPR compliance.
Typical Stakeholders in a WeIdentity Use Case
The User is the owner of the self-sovereign identity, who has full control of the identifiers, credentials, authorization and verification.
The Issuer is an organization with the authority to issue or authenticate credentials or other identifier information stored on the blockchain.
The User Agent generates a WeID for the User on blockchain following KYC procedures. The User can access the identifier data via the User Agent as being an authoritative and trustworthy body.
The Verifier is a permitted third party to verify if the credential was issued by an authority issuer and if the credential data was modified.
Fully open-sourced for maximum technology transparency, better access to innovation, zero vendor lock-in, greater security, and extensive customization.
Sensitive personal information and verifiable credentials are stored off-chain for privacy protection. Users can choose who can access their data, and companies always know who they are dealing with.
Decentralized ID repository reduces the risks of the traditional centralized model, including the risk of widespread data theft and loss.
The solution provides standard interfaces to support cross-chain and cross-platform operations, laying down the foundation for future integrations and collaborations.
WeIdentity data can be ported to other platforms using the same W3C DID specifications, which is compatible with most mainstream blockchain infrastructure platforms.
The data model is widely applicable and may be used in myriad business scenarios and use cases, while maintains sound operability, portability and simplicity.