ShareRing is a digital Identity Service Provider (IDSP) who develops Self-Sovereign Identity (SSI) solutions and institutional grade verification technology to enable frictionless interactions between individuals and entities (businesses and other organizations) who need to verify their customer's ID.
Self-Sovereign Identity gives users the ability to manage their digital identity and chose how much of their information they share with the entities they interact with.
Entities that need to check customer's ID, for instance for age-restricted products or services, request the user scan a QR code which triggers an ID check the customer can approve from their mobile device.
This process allows the user to only share the information the entity has requested, for instance, are they over 18, without sharing other non-pertinent information, for instance, their home address.
It also allows entities to fulfill their legal requirements around verifying ID while removing the burden of storing the customer's ID documents.
How it Works
Individuals create a new account and scan their ID, for instance, Passport, Driver's License, or other ID.
The IDs never leave the user's phone and are stored in the Vault on their phone.
These IDs are put through a series of authenticity checks and verified. There are three verification levels.
- ShareRing Verified: This is the highest level of verification and is achieved when a user adds an NFC document (for instance an e-passport).
- ShareRing Checked: This is the medium level of verification and is achieved when a user adds a non-NFC document.
- User Added: This is information the user has added, but has not been verified or checked by ShareRing. Data at this level should be used for information purposes only.
ShareRing Verified has the highest of verification and the greatest level of accuracy and should be used as the basis for any checks that are required for legal purposes.
An asynchronous unique hash is generated from the information in the user's vault and stored on the ShareLedger blockchain. The hash is used to verify the user's information has not been altered since the hash was created, however, the hash cannot be reverse engineered to reveal any personal information.
Entities that need to check their customer's ID, create a Vault Query Language query, present a QR code to the customer to scan.
When the customer scans the QR code, they'll see a request on their mobile device to share information with the requesting party.
Next the customer approves sharing the requested information, and the requesting entity will receive the requested information.