London, July 8th: io.finnet, a leading innovator in trustlessMPC and blockchain-based solutions, today announced that its R&D team has successfully validated the proof of concept for io.ID, a revolutionary self-owned digital identity platform. This milestone marks a significant breakthrough in empowering individuals and organizations to take full control of their digital identity, data, and credentials.

‍

io.ID reimagines digital identity management by integrating cutting-edge technologies like decentralized identifiers (DIDs), verifiable credentials (VCs), and threshold signing via trustlessMPC. The platform provides unparalleled security, convenience, and self-ownership, setting a new standard for identity management in the decentralized era.

‍

"We are thrilled to have validated io.ID for launch, demonstrating the power and potential of self-owned digital identity," said Luke Plaster, Chief Security Architect of io.finnet. "Our R&D team has worked tirelessly to bring this vision to life, and we look forward to continuing to advance io.ID and make it a reality for individuals and organizations worldwide."

‍

The io.ID proof of concept showcases several key features that set it apart:

• Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs): io.ID enables users to create self-owned identity records stored on-chain, giving them full control over their digital identity. Verifiable credentials allow users to prove specific attributes about their identity without revealing all information, enabling zero-knowledge automated compliance checks.
• Threshold Signing with trustlessMPC: io.ID leverages io.finnet's trustless MPC technology to enable secure distribution of access to accounts across multiple devices and locations. This protects against robbery, device loss, and under duress situations, while ensuring always-on access and security.
• MPC digital signature based authentication mechanism: This mechanism ensures robust authentication and enhances the security protocols of the platform.

‍

The successful validation of the io.ID proof of concept is a significant milestone in io.finnet's mission to democratize advanced technologies like MPC, blockchain, and self-owned identity. As io.ID continues to evolve, it is poised to create a new standard in digital identity management, providing unparalleled security, convenience, and self-ownership.

‍

To learn more about io.ID and io.finnet's vision for the future of digital identity, contact us on iofinnet.com.

‍

—

‍

About io.finnet:

‍

At io.finnet, we believe that secure and seamless access to digital assets is paramount. We provide innovative digital asset infrastructure solutions for various industries, including finance. Our expertise spans enterprise blockchain, cryptographic security, multi-party computing (MPC), and lightning-fast secure APIs.

Our comprehensive product portfolio includes:

• io.network: A 24/7 instant settlement platform leveraging private blockchain technology.
• io.vault: A self-custody solution enabling businesses to securely manage their digital assets.
• io.flow: A network of payment providers for processing multi-currency transactions through local and cross-border payment rails.‍
• io.ID: A self-owned digital identity solution that empowers users to secure their online presence with unparalleled security and convenience.

‍