Self Sovereign ID (SSID)
Who are you? Who decides you’re really you and can be trusted? The answer, and the systems involved, differs in the real world and online. But blockchain technology could make establishing identity and trust much easier for everyone.
Du: The first step to SSID
Your ID stretches far beyond just a picture on a card. It is captured in every personal document your received and distributed to the companies you do business with. Du enables consumers to be in full control of their own data and be able to decide who they share their data with.
Where is the Market with SSID
UPort has developed a Blockchain solution that is currently being implemented in Zug, Switserland. Their focus is currently on your ID card and have not addressed the rest of your ID. Du has build a platform that
Consumer Data Breaches
Over the past year more than 1,3 billion consumer records worldwide have been compromised in one way or another. Companies continue to spend substantial amounts of money to secure their own data centres and access to their customer data. However, none of these companies provide the consumer with a tool to detect ID fraud as soon as it happens. The consumer is left in the cold and has to pay a hefty price when someone fraudulently use their information to defraud them.
Du and the Consumer
The biggest personal data exchange is currently between credit bureaus and businesses, ignoring the consumer. Du has partnered with a Credit Bureau to start #giveitback. Du puts control of this personal data exchange in the hands of the consumer—where it belongs. #giveitback
Our Data Sources
The Credit Bureau and Business
The biggest personal data exchange is currently between credit bureaus and businesses, ignoring the consumer. Du puts control of this personal data exchange in the hands of the consumer—where it belongs. #giveitback
Our data sources and offerings
Du has secured Credit Bureau data, that includes more than 130 data sources, such as: • Live feed from Department of Home Affairs (DHA) • Ability to extract diseased details as recorded at DHA • 1,000+ data fields per person • Paperless KYC report • Live, “dynamic” Credit Report • Directory report – contact details and directorships • Client payment predictive analytics with 99%+ accuracy
Instant on boarding
We pre-populate the consumer’s application form and deliver it in app where they can read and accept the accuracy and terms and conditions.
Du & Financial Inclusion
The first step to Financial Inclusion is to open a bank account. Billions of people do not have a formal street address. Du has a registered patent that makes your phone your physical and delivery address. This could double up to satisfy the KYC requirements of an address to open a bank account and/or obtain a mobile phone contract. By building an ID profile consumers contribute to building a credit report. Du enables companies to provide you with your own data to build that profile that enables you to improve your credit profile to access financial services and products.
Financial Management Education
With Du the consumer and the companies they deal with has full view of their data and this enables companies to constantly educate the consumer on how to improve their profile and credit score. With our Trust score (being build now) consumers will see how their profile grows and companies will
Portability of data
The inability to securely transfer data with trust between companies makes current personal data collection processes time consuming, inefficient, and very expensive. These workflows also isolate the consumer—whose data is being collected—from the process altogether. Du allows for the portability of trusted 3rd party data from one organization to the next, directed by the consumer, thereby substantially reducing the cost, time, and security risks of on boarding new customers
Du ensures compliance with GDPR with respect to: • Customers have total control over what data is kept, by whom, and for how long • Customers self-update data, ensuring it is always up-to-date • Customer consent is managed in-app • Eliminates e-mail for document sharing • Creates a single customer view across multiple business units
Portability of data
The time, effort and cost for one receiving party to collect personal data is not reusable by any other party (inability to transfer data with trust), thereby making the process unnecessarily expensive (repeated by every single company that you do business with). Du allows for the portability of trusted 3rd party data from one organization to the next (by the consumer) therefore substantially reducing the cost, time, and security risks of on boarding new customers.
Du ensures compliance with POPI/GDPR with respect to • Customer’s always know what data is kept • Customer’s data is always up to date - self update • No consent required - Customer decide who to share with • Email – Du eliminates e-mail! • Single View of a customer across business units • Erasure is a button away (soft delete)