Introduction

Decentralized Identity and KYC and KAML

Good to know: Our base release includes credentials relevant for financial transactions, such as proof that an entity that controls a blockchain address has been KYC’d and similar credentials for credit score and counter-party compliance.

What is an ID DWN

ID DWN is a set of open source decentralized identity protocols that bring trust, privacy, interoperability and risk mitigation to individuals and entities participating in the global crypto financial ecosystem.

These protocols allow people and institutions to cryptographically prove claims about their identities, and enable service providers to attest to those claims, while avoiding exposure of sensitive personal data. For example, an individual might prove KYC, credit, insurance, accredited investor status or similar identity claims to an application or smart contract while preserving personal privacy.

Unlike centralized identity architectures, the protocol decentralized approach enables people and institutions to control how their identity data is accessed and avoids identity vendor lock-in. ID DWN is not a token, requires no specific blockchain, and doesn't store sensitive personal data on any blockchain.

What is decentralized identity

Decentralized identity architectures give individuals control of their identities and credentials, just as they control their own crypto assets. Service providers add attestations to identities in the form of tamper-evident, cryptographically-secure Verifiable Credentials. Verifiers request and verify credentials in their products and services.