A decentralized identity management protocol, idOS, has been unveiled on the “Build on XRPL” show, promising to simplify user onboarding and enhance security in the growing world of decentralized finance.
In the 10th episode of the “Build on XRPL” show, Julian, CEO and Co-founder of Fractal ID, unveiled the decentralized storage and access management protocol that simplifies user onboarding by reusing existing identification data, eliminating repetitive verification steps.
Julian explained that the core mission of idOS is to enable a seamless identity verification process not requiring users to continually confirm their identity.
“We are exploring ways to signal on-chain that a user’s identity is verified, essentially creating a digital passport that confirms identification without compromising personal details,”
idOS emphasizes interoperability as its key feature. The system enables users to integrate with numerous financial modules using a single signature. This functionality positions idOS to be as transformative for blockchain technology as the browser was for the internet, paving the way for future applications that are yet to be imagined.
As Julian noted, “Just as the early internet couldn’t predict the vast range of websites and services it would host, we foresee idOS enabling a new generation of financial applications by 2040 that are as innovative and essential as those we rely on today.”
The development of idOS not only demonstrates advancements in blockchain technology but also promises significant strides in user convenience and security, potentially leading to broader adoption of decentralized platforms.
Infinite Block, the only cryptocurrency company in South Korea to-date to obtain a Virtual Asset Service Provider (VASP) license, has also announced its support for the open-source public blockchain XRP Ledger (XRPL). With Infinite Block’s recently announced support, XRPL could potentially enter the South Korean market and reach a new user base.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Read the full article here
