ShareRing is a blockchain-based ecosystem that offers digital identification solutions. ShareRing recently released the announcement Introducing Skinny ID.
The Introduction of Skinny ID
Skinny ID is a simplified registration process used by ShareRing. Its goal was to lessen the amount of resistance experienced during onboarding.
As a result, users won’t need to provide any official identity to explore the ShareRing ecosystem.
To put it simply, ShareRing is a blockchain platform designed with the user in mind. This new technology will enable the issuance, storage, verification, and sharing of sensitive papers and personal data.
The company found that ShareRing’s first onboarding procedure was previously reasonably challenging. Based on the organization’s findings, this was the case.
According to the report, ShareRing’s initial onboarding procedure made things more challenging for users. This was explicitly for users who were using the site initially.
Their objective of providing access without obstacles was utterly at odds with the friction. Participants have to complete a more extensive sign-up process.
Users also had to provide at least one piece of official identification. The next stage was to take a selfie and scan it using face match technology.
What To Expect from The Blockchain-Based Digital Identity Solution
The blockchain-based infrastructure used by ShareRing gives financial institutions considerable flexibility. The technology enables financial organizations to do tasks more swiftly and efficiently.
eKYC (electronic know-your-customer) is a service the corporation provides that makes this possible. Additionally, users of this eKYC solution have the choice to agree to the sharing of their data. It also allows them the liberty and flexibility to do so on demand.
Near-field communication (NFC) technology and the electronic Know Your Customer (eKYC) process have been combined by ShareRing. This will increase its dependability and security.
Blockchain.News disclosed information about the merging of the two technologies.
Previously, ShareRing unveiled a brand-new website that features digital identities. The website was to usher in the Web3 era and was made possible by blockchain technology.
Additionally, this was intended to address the problem of losing control over one’s data. This was a common problem for those using Web 2.
ShareRing established the blockchain-enabled website to alleviate a variety of issues. However, the inability to control one’s digital identity and online imprint on Web2 is a major contributing cause.
This has been one of the biggest obstacles to guaranteeing that one’s privacy is protected and that one owns data.