Authenteq Identity Solution
16 January 2019 - 6:04AM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
January 15, 2019 -- ADVFN Crypto NewsWire -- Authenteq is taking an
approach to the opportunities of blockchain technology and identity
unlike many of the start ups entering the field. Their app isn’t
attempting to become the universal standard for identity with
government contracts or looking to 3rd world countries were there
are consistent issues with identification. At the most basic level,
Authenteq is a hugely improved version of the “Are you a robot?”
internet checkpoints that websites use to prevent spammers and
trolls from filling their web traffic space.
Authenteq was started in 2015 as an
automatic identity verification and privacy platform. They issue a
blockchain based, self owned and controlled digital ID, but the
difference from other platforms is in its simplicity. The company
just finished a funding round of $5 million, bringing their total
funding to $7 million. But the funds have come from some of the
biggest names in the blockchain industry such as, Tim Draper’s
Draper Associates and Capital300.
“Having forward-thinking investors
such as Tim Draper continue his support of Authenteq after backing
the company in the seed round and a convertible note shows his
interest and dedication to the space. And having investors like
Capital300 who show the entrepreneurial spirit of getting stuff
done in record time really gives us confidence that we have picked
the right investors for our continued growth.” - Kari Thor
Runarsson
60 Second
On-Board
The automated identity verification
platform allows users to verify their identity and create their own
sovereign digital IDs which are stored encrypted in a blockchain.
Additional information can be added if the user would like to do
so. This and the root identity affirmation is not accessible by
anyone, including Authenteq itself.
A smart phone with is required for the app, and to take a selfie
picture with initial confirmation.
Next a picture is taken of a valid
driver’s license or other form of sovereign ID. The data from this
identification card is not actually stored by Authenteq, but rather
only used in this initial on-boarding to prove that the individual
is a human. Third party systems are used for
identification.
Total
Privacy
Authenteq ensures that customers
maintain their privacy. Even in the case of law enforcement
demanding information from the person who created an account,
Authenteq would not be able to provide anything. This form of
identification is a softer step toward digital identity, that may
be more easily adopted by a wide range of users. It provides
benefits for almost any type of online service, and can be
integrated using APIs or by using our plugin.
By: BGN Editorial Staff
Bitcoin (COIN:BTCGBP)
Historical Stock Chart
From Apr 2024 to May 2024
Bitcoin (COIN:BTCGBP)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Bitcoin (Cryptocurrency): 0 recent articles
More Bitcoin News Articles