Quantstamp is proud to announce that it is joining the DID Alliance, an open industry association focused on the development and maintenance of new industry standards for interoperable decentralized identity. With Korean and Silicon Valley companies as founding members, DID Alliance aims to develop and distribute decentralized ID technology that benefits companies globally.
“The DID Alliance aims to improve interoperability of different decentralized ID projects to help this technology reach a global market,” noted Richard Ma, CEO of Quantstamp. “By joining the DID Alliance, we are solidifying our position in Korea while also aiming to help spread secure, decentralized ID technology that will benefit the world”
The DID Alliance aims to simplify decentralized ID creation and management. It will use blockchain for data connectivity, security and privacy. Founding members include Korean financial institutions such as KB Kookmin Bank and Shinhan Bank, as well as IT and technology companies such as Coinplug, Korea's largest blockchain patent holder, RaonSecure, a biometric authentication company, LG CNS, and Samsung SDS.
Benefits include improved data security, scalability, efficiency, interoperability and reduced costs. Data leaks will be reduced and identification processes can be made much faster, with reduced deployment and operational costs. The DID Alliance will also ensure that service providers can trust the identity of a user no matter what digital address provider they use, allowing for interoperability between various DID projects.
About DID Alliance
The DID Alliance is an open industry association created to drive the development of a standardized, interoperable framework for decentralized identity services to ensure the authenticity of and establish trust in digital identities. The group will contribute to the creation of a global ecosystem, the formation and operation of a collaborative network, the diffusion of standardized technologies and the development of the decentralized identity industry.
Quantstamp is a leading blockchain security company based in San Francisco, California, with offices in Tokyo, Toronto, Seoul, and Taipei. It offers full-service blockchain security auditing powered by automated tools, as well as enterprise blockchain development services. Its expert engineers have developed vehicle ID, personal ID, loyalty point systems, and other blockchain-based systems for a range of customers across government, automotive, and fintech sectors.