November 11, 2024

ShareRing Attains Prestigious UK Accreditation: Leading the Way in Reusable Digital Identity Solutions

ShareRing, the innovative Australian blockchain company, has achieved a significant milestone by receiving accreditation under the esteemed “Digital Identities and Attributes Trust Framework” (DIATF) in the United Kingdom. This accomplishment cements ShareRing’s status as one of the pioneering companies in the industry to be accredited, highlighting its unwavering commitment to secure and private reusable digital identity authentication.

This accreditation empowers ShareRing to offer its advanced digital identity solution for digital ID authentication, including ID verification for land registry purposes in the UK. ShareRing’s state-of-the-art digital identity technology provides businesses with an all-encompassing solution to authenticate their customers’ identities across a wide array of industries. From financial KYC and customer due diligence to age and ID verification, venue and guest management, and corporate identity management, ShareRing’s technology streamlines these processes.

Businesses can seamlessly manage their digital identity requirements through an intuitive web-based platform, while customers gain control over their reusable digital IDs via the Identifi Me app. In this app, users retain complete sovereignty over their personal information, ensuring privacy and security in the digital domain.

The DIATF, overseen by UK government authorities, serves as a stringent framework for establishing trusted and secure digital identity ecosystems. It mandates rigorous standards, principles, and requirements that accredited companies, such as ShareRing, must uphold. These guidelines guarantee the integrity, privacy, and reliability of user data while mitigating the risk of identity fraud and cyber threats.

“Digital identities play a pivotal role in streamlining our daily lives and enhancing operational efficiency across various businesses. The UK stands at the forefront of digital ID regulation, and with this accreditation, ShareRing can confidently collaborate with public and private sectors in both Australia and the UK,” said Tim Bos, Founder of ShareRing.

ShareRing’s self-sovereign identity solution, built on blockchain technology (Tendermint PoS and Cosmos SDK), establishes an incorruptible ecosystem for businesses and individuals. In contrast to conventional identity systems vulnerable to breaches and fraud, ShareRing’s solution ensures that personal data is verified and remains under the user’s control. It is only shared with third parties when necessary and with explicit consent.

Over the past year, ShareRing has forged partnerships with multiple private sector businesses in Australia and abroad. These collaborations have replaced traditional KYC and customer authentication processes with reusable digital identities. ShareRing continues to establish partnerships with Australian and UK investment funds, nightlife and F&B venues, and hotels. These collaborations aim to safeguard businesses from identity fraud, enhance operational efficiency, and reduce costs.


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