Since the boom in the cryptocurrency industry, blockchain is not just associated with Bitcoin. Now Several startups have used Blockchain technology for different business trades from trade financing, videogames to travel insurance making these businesses more secure and efficient.
One field that has also gained a lot of attention is digital identity. Several companies provide secure digital identity and protection from identity theft. But this is an emerging field, and a lot of startups are looking promising and coming up with new features to protect identity using blockchain technology.
We have listed the top 7 blockchain identity startups that have a bright future:
1. Civic Founded by Vince Lingham & Jonathan Smith.
Civic is a San Fransisco based startup that uses blockchain technology to give tools to individuals and businesses to protect and control identities. Vince is currently the CEO of the company. The startup aimed to put users in control of identity protection by using blockchain technology. So far, the startup has raised 35 million dollars in 5 funding rounds. Plug and Play and Genesis One Capital have invested in the startup.
In June 2017 Civic launched CVC token and raised funding through ICO. According to CEO, Vinny Lingham the company is looking to start a new project identity.com an open-source, marketplace for identity verification services built on the blockchain.
Before Co-founding Civic, Vince had co-founded Gyft, a mobile app that allows users to buy, send and redeem gift cards. He has also invested in many startups. The other co-founder of the startup, Jonathan, has more than 16 years of experience in banking and technology advisory. He previously was the vice president at Genpact, that provides business process management and information technology services.
Civic has the potential to grow up to become one of the leading company that provides identity management using blockchain technology.
Selfkey started in 2017 is a blockchain-based digital identity system where its users can own, control, and manage their digital identity.
SelfKey also allows users to securely manage their crypto portfolio and provides instant onboard immigration, cryptocurrency, and financial services. With the help of SelfKey users can control and manage their digital identity, and have secure access to Citizenship and Residency, Fintech Products, Financial Services, Company Incorporation, Coin Exchanges, and Token Sale. Their current focus is on the Asian Market.
uPort’s open identity system allows its users to register their own identity on Ethereum, send and request credentials, sign transactions, and securely manage keys & data. This app gives users direct control of their identity, and developers have direct control of how this identity system is integrated.
The startup was launched in 2016 in New York. This app also consists of identity and messaging protocols that together form an interoperable identity layer for the decentralized web. This startup aimed to build a shared identity web of trust. Pelle Braendgaard founded uPort, and he is also the chief technical officer at the company. Pelle previously worked as Senior Software Developer at Deutsche Bank Deutsche Bank in Germany.
Pelle Braendgaard also co-founded Extra Eagle, a company that provided services to create and negotiate agreements. From 2010 to 13 he worked as Senior Engineer at Doximity. The New York-based startup is continuously growing its market.
Peer Mountain provides a decentralized identity and compliance ecosystem that puts people in control of their protected personal information. The startup was founded in October 2017 by Jed Grant. Peer Mountain provides an ecosystem for trust built on an interchain protocol called Peerchain.
This company focuses on building a decentralized Peer-to-peer trust marketplace that connects self-sovereign identity owners with the regulatory-compliant service provider. Peer Mountain is a protocol of trust in an open ecosystem, it let users aggregate other IDs, like Civic, onto their profile.
Jed did his MBA from Heriot-Watt University, Edinburgh, UK. He is also the member of Board of Directors of the American Chamber of Commerce. Jed, before founding Peer Mountain, was a professor at the University of Luxembourg.
Evernym is looking to build the next generation of identity infrastructure for the world. Enabling peer interactions between individuals, organizations, this startup is one of a kind. Evernym works with leading companies, institutions, and NGOs to create new private-by-design solutions which give the individual actual control and ownership of their data using blockchain technology.
So far, the startup has raised nearly 10 million dollars in funding. Jason Law is Founder and Chief Technical Officer of the startup. Jason, as a teenager, started developing software for hire on his personal computer. He later got his MBA degree from Brigham Young University (BYU) in Utah.
6. Trusted Key Identity, founded by Prakash Sundaresan.
Trusted Key provides consumers and organizations with a secure digital identity solution with the technology of blockchain. This startup aimed to enable an Open Identity Network where users control their own identity using their mobile phones. They had a vision of making interactions with governments, banks, retailers, universities secure. Currently, the startup has raised more than 5 million dollars in funding.
Prakash Sundaresan founded the Trusted Key in 2016 in Seatle. He also leads the technical team of the company as CTO. He got his MBA degree from the University of Washington Michael G. Foster School of Business.
KYC Chain has created an identity platform that is based on distributed ledger technology. The platform aims to share verifiable identity claims and remove identity thefts. KYC users own a key to their data, so they are the only ones who get to choose which part of their information is to be shared.
This platform aimed to provide consensus on the identity of individuals and companies at the highest level of trust, bringing ease and simplicity to the process of onboarding new customers for businesses and financial institutions.
KYC Chain is a HongKong based startup started by Edmund Lowell in 2013. Edmund studied law, finance, and technology from Northeastern University in Boston, Massachusetts. He has also built several Fintech and RegTech products.
With the increasing rise in identity thefts, it is very convenient and secure to use one of these platforms. Many companies are supporting this digital hub for creating security identity, turning it into an industry in itself. These startups are constantly working to improve security and eliminate every possible chance of identity theft. If you possess some valuable digital assets, it is an excellent idea to protect your identity from any potential future harm.