crypto-news-flash.com
- Impierce Tech celebrates the release of IOTA Identity v1.2, marking significant progress in self-sovereign identity solutions.
- The IOTA Identity framework, highlighted by CEO Jelle Millenaar, not only advances decentralized identity solutions but also emphasizes transparency and community involvement.
The IOTA blockchain network continues to make progress with its Identity framework as new upgrades bring advanced versions with self-sovereign identity solutions (SSI). Jelle Millenaar, CEO of Impierce Tech, a company specializing in leveraging the IOTA Identity framework, has revealed substantial advancements in the latest upgrade.
In recent news, Millenaar extended appreciation and congratulations to IOTA for the release of IOTA Identity v1.2. Although it is a minor update, it includes a series of modifications requested by ImpierceTech for the integration of IOTA into their SSI products. The integration of IOTA with Shimmernet is now on the verge of completion.
Thanks and congratz @iota for releasing #IOTA Identity v1.2. While a minor update, it introduces a set of changes requested by @ImpierceTech for integration of #IOTA into our #SSI products. Integration of IOTA and @shimmernet is now almost complete! pic.twitter.com/LXoX7zgwx3
— Jelle Millenaar (@JelleFm) March 28, 2024
this latest version is an update to Identity 1.1 that featured integration of the SD-JWT empowering users to selectively disclose only the essential details necessary for a specific transaction, reported Crypto News Flash.
Through collaborative efforts with IOTA and various community stakeholders, Impierce Tech has successfully implemented OpenID standards, a pivotal move towards regulatory adherence. Millenaar emphasizes the transparent and community-driven nature of these initiatives, underscoring a dedication to openness and inclusivity.
Moreover, Impierce Tech provides an SSI Agent designed for seamless integration by businesses aiming to interface with UniMe and other European Identity Wallets. This agent, fully aligned with the IOTA and Shimmer ecosystems, showcases distinctive on-chain functionalities that distinguish it from rival offerings, as reported by Crypto News Flash.
More About The IOTA Identity Framework
The IOTA Identity framework incorporates prevalent standards and models for Decentralized Identity, accommodating both DLT-agnostic and iota method-specific approaches. It also facilitates Identity management for individuals, organizations, entities, and objects, serving as a cohesive layer of trust bridging interactions among all entities.
Decentralized or Self-Sovereign Identity (SSI) empowers individuals with complete authority over their digital identities, addressing concerns related to data breaches, distrust in digital platforms, and compliance with privacy regulations such as GDPR.
By bridging the divide between online aliases and real-world identities, digital identity facilitates the verification of genuine identities. This further grants individuals the autonomy to selectively disclose their data and determine its recipients.
Self-Sovereign Identity aims to restore individual autonomy and privacy while enhancing the online user experience. While some initiatives prioritize data privacy by restricting companies from accessing user information entirely, the IOTA Identity framework provides users with control over the extent of information they disclose.
Users can consolidate all personal data into a single online profile and selectively share it with designated recipients. Verification processes ensure the accuracy of shared information, establishing trustworthiness. This transition shifts users’ online profiles from being estimated statistics by corporations to precise, verifiable profiles under their direct control.