Update — helix id App
In this article, we would like to showcase you the most recent developments of helix id. We have been working vigorously on our goal to bring the app to the market and now we would like you deeper insights and show you what to expect in Q1 2020, when helix id will be launched.
Since it is our firm conviction that the protection of your Digital Identity should be free of charge, you will never ever have to pay for helix id.
Our objective with helix id is to give you full control of your data! This is why only you have access to your data, so your Digital Identity lies in your hands.
In the past, this was completely different. Ever since the internet started, your data has been collected and stored by internet companies, which analyzed and monetized them.
What did not cause much concern or attract much attention back then is a burning issue now. Nobody really knows what happens to the data and whether it is used for abusive behaviour. This has to change — and it will change.
(An introduction to the history of Digital Identities can be found here.)
There have been various attempts to protect the data of internet users, their success however was modest. Previous attempts mainly failed because of a lack of technical capabilities. This has changed since blockchain arrived. The technology is the missing link to tamper-proof, consistent data, which is not under the control of a central authority.
Blockchain technology made it possible to put the concept of Self-Sovereign Identity into action. This concept is the core of helix id.
Introduction
Think of helix id as the home of your Digital Identity! Your personal data is stored in encrypted form and is shared only, if you give your consent.
This is the cornerstone of our solution. But because you have to be able to do something with your secure Digital Identity, we are developing a whole ecosystem in which verified digital users can interact, communicate and trade.
The helix id ecosystem consists of authentication, verification, electronic signatures and an integrated payment method. In addition, we are building in a marketplace for digital services and products. So you can trade digitally within the app — secure and hassle-free.
These four functions are essential for end-to-end transactions within the ecosystem. At launch however, electronic signatures and the payment method will not be available yet, as they will be implemented later on.
Authentication
Through successful authentication, you confirm the authenticity of your Digital Identity. On the internet, users are usually authenticated by their user ID, which is often not secure.
For authentication in the helix id app, we offer biometric procedures in addition to username and password. These procedures include fingerprints and face recognition. This increases security and ensures that you are the only one who has access to your Digital Identity.
Verification
You can fill in your data to the helix id app as you wish. However, these data must first be verified in order to use certain services (e.g. KYC is required for financial services).
We offer quick and easy ways to verify your data:
- agentless videoident — a video-based fully automated verification process.
- electronic identity card — the new german identity card can quickly transfer data.
- over the counter — direct verification on site at one of our partners (implemented after launch).
We know how inconvenient regular methods for digital identification can be. By automating the verification process, we aim to make it as user-friendly as possible. Another advantage: Your Digital Identity has to be verified only once, thereafter all services and products in the helix id ecosystem are available for you.
Trust Level
It is important to know that there are different levels of verification. We call them Trust Level. The first level is unverified data, viz. data you entered without any verification. These can be used for services with low-security requirements, such as accounts on news or gaming sites.
The next Trust Level is e-commerce. This includes all data required for online shopping (address, billing address). Once you have your data verified for e-commerce, you are able to use the services and products on the helix id marketplace. No more time-consuming registrations on different online shops.
The third Trust Level is financial services — KYC and AML checks. Usually, these are costly and time-consuming, because you have to repeat them for every single registration. In the helix id app you have to verify your data only once and can use your KYC-verified Digital Identity multiple times.
The last and highest Trust Level in the helix id ecosystem is government services. Users can, for example, participate in e-votings, renew their identity card online or use other governmental or administrative services digitally. Although digitization of government services is progressing slowly, we expect to see good opportunities to integrate these services into the helix id ecosystem.
Electronic Signatures
An electronic signature is the authentication of the author of an electronic document of information. The so-called qualified electronic signature is a special form of the electronic signature and is de facto the equivalent to the signature on paper.
For you as a user, this means that you can carry out legally binding transactions with just a few clicks. It does not only save time but enables trustworthy end-to-end transactions within the ecosystem. No legal or other intermediary is involved in the process, which is why there is no potential weak point where trust is lost.
Payment Method
The integrated payment method is similar to electronic signatures. On the one hand, we would like to offer a user-friendly in-app payment method by means of the helix id stablecoin.
On the other hand, payment service providers such as PayPal do not have to be involved in the payment process. With no third parties involved, the risks of your data being stolen are dramatically reduced.
Marketplace
In the helix id marketplace you can use your verified identity to purchase products and services — securely and quickly. If you interact with other parties, you can always be sure of the opposite’s authenticity. This creates trust within the ecosystem and drastically reduces online fraud.
At the start of helix id in Q1 2020, we will already have some trusted partners on board who are working in the following industries:
- mobility
- finance
- e-commerce
- healthcare sector
- smart home
Building the helix id marketplace is a dynamic process — we will be adding new services and products constantly.
If you would like to stay on top of things regarding helix id, then please follow us on Twitter and subscribe to our newsletter.
About us
We are Blockchain HELIX, a German blockchain technology startup. Innovation, creativity and sustainability is at the heart of everything we do. We offer a Digital Identity solution for individuals and corporates, called helix id. With helix id, you stay in full control of your data — which is all that is needed for a secure and trusted digital future.
Glossary
Self-Sovereign Identity — A sophisticated concept of Digital Identity, in which the owner is the only one to control and share the data, which are decentralized. Self-Sovereign Identity comprises individual storage, use and sharing of personal data with others.
KYC (abbreviation of Know Your Customer) — A scrutiny of personal and business data which financial service providers have to perform on new clients. KYC processes aim to prevent money laundering and financing of terrorism.
AML (abbreviation of Anti Money Laundering) — Guidelines, rules, and measures to fight money laundering and financing of terrorism. These do not apply to financial service providers only, but also to custodians, fiduciaries, brokers, and tax consultants. All of those are obliged to gather information on their counterparts in order to take pre-emptive action against money laundering.
Stablecoin — A crypto currency, which is linked to a traditional currency or other reserve assets in order to reduce volatility.
End-to-end-solutions — Processes and practices, which — from beginning to end — take place within a closed system. No third parties or intermediaries are involved or needed.
