With Identity being the bedrock of trust in our world and the exponential growth of the internet where every arena is being digitalized, there is a massive impact on the Digital Identity industry.
On the flip side, there is significant growth with the number of ‘user data’ breaches, hacks, fraud, and identity theft. The primary cause of this is because the companies that get hacked do not take into account data protection and data security in their ecosystems and governments are also not pressuring companies to protect user data. However, with the passing time and immediate need for data protection Self Sovereign Identity (SSI) intends to solve this problem by proposing a smarter way to manage user identity and protect user data in general.
With the dawn of decentralization, it is now needed, more than ever before for trust to be established within the digital ecosystem.
With the instigation of The Hypersign Network, which will be a Global Identity Infrastructure, allowing companies, governments, humans, and devices to connect to and use it for a plethora of services from authentication, authorization, verification, and even management of digital certificates. The network will ensure that all the personal data is only accessible by the owner and only by permission can a 3rd party access this data.
Our data should be in our control and no one can access it without our consent.
In simple terms, digital identity is the compilation of information about an individual that exists in the digital form and this can be anything and everything starting from one’s date of birth to something an individual likes or comments on Facebook. The information that forms one’s digital identity can be grouped into two broad categories: one’s digital attributes and digital activities. These pieces of information, either alone or combined together, can be used to identify an individual.
What is Hypersign, and what problem is it solving?
Hypersign is an Identity layer built on the æternity blockchain network and is designed to provide ‘self-sovereign identity’ for earth’s seven billion humans and their devices.
When ready, it will be a fully functional blockchain enabled with a hybrid consensus layer (PoW+PoS). Hypersign will also offer other features such as SmartContracts, StateChannels, Oracles and Chain-names inbuilt.
Divided in to two main components studio and middleware, the network will enable enterprises, governments, and public institutions to easily manage and issue verifiable credentials, as well as verify the ‘verifiable presentation’ provided by the holder.
Hypersign intends to solve problems around User Data Protection, by providing a framework for Password-less Authentication and Minimal Data Exposure
Takes teamwork to make dreams work
Building the right team is essential to the success of any project. In accomplishing our dream along with the three founders Irfan, Vishwas, Vikram, and the development team; we are a strong, experienced, and grounded crew with our roots firmly embedded in Identity, Distributed Systems, and Business.
Together with this, we understand partnerships are also a critical and a significant component to the success of our project, which is why we are currently forging strong ties with the global Blockchain community and also with enterprises and governments.
From the very beginning of our journey, we started partnering with renowned companies such as NanoCorporation, who not only believed in our cause but also have pledged to introduce our project to UK and Europe. We are also closely working with the awesome team over at Harmony and plotting world domination plans together.
Stay tuned for updates.
Behind the scenes
It all started when Vishwas and Vikram’s father sent them Facebook friend request seven times from seven different IDs, within a span of three months. The brothers analyzed this situation and realized that the father had unfortunately forgotten his login password and couldn’t reset it. Hence he had to create a new account each time.
Though it might seem like a simple issue where you could store a password in the browser and login seamlessly; however after few days of research, the team managed to identify the innumerable problems associated with password storage — right from data breaches to hacks and also the costs associated with the password reset. To add upon this there is also the user tracking being enforced by the usual suspects such as Google and Facebook.
All these above scenarios and issues ultimately led to the start of our company — Hypermine. A prolonged and determined journey going against Facebook, Google, Gemalto[Thales], Cisco.
Initially, we began with the idea of creating a decentralized password-less authentication system. As we continued to work on this project it became evident that the password-less solution is part of a much larger equation of problem, namely: User Data Protection.
Our initial thought was to implement FIDO standards on a smart contract, as back then FIDO Alliance was a well-implemented standard for centralized identity systems. But as we further dived into this issue and researched more, we came across DIF ( Decentralized Identity Foundation) and the W3C standards for a self sovereign identity systems.
This aligned with our thought process of giving the control of Identity back to the user, and that was the time we decided to build Hypersign as an Identity network.
Aeternity : Angels come in many forms
To start a new project you always look for what has been done already in the past, following some initial research we were well aware of the fundamental problem of slow execution and a high gas fee of the Ethereum network.
After evaluating multiple networks, We came across the AEterntiy Network.
The æternity blockchain is an Erlang-based scalable smart contract platform that has been redesigned at the protocol level to address some of the most fundamental challenges native to preceding blockchains.
Aeternity gives you the complete package as software to build decentralized products, some of the features such as Oracles, State channels, and chain names are all out of the box, As a developer, you just focus on the use-case. They have even managed to provide a cloud service to test smart contracts.
However, what interests us most is the use of Erlang to build the core and Fate virtual machine, for us the scalability was a major point.
FATE or the ‘Fast æternity Transaction Engine’ is a type-safe Virtual Machine optimized for æternity smart contracts that are written in a specialized strongly-typed functional programming language called Sophia. This powerful Virtual Machine outperforms other blockchain networks with better efficiency and by providing a safer environment, giving developers the advantage of speed, safety, and low fees, even when scaling quickly.
The technology employed by AE is far superior to the other networks available and is a major differentiator. However, what is even more important is the support towards the blockchain community that they extend through their investment arm AE Ventures. AE Ventures identifies, supports, nurtures very early-stage blockchain startups and brings them up to speed with support, technology, and investment. This is a great endeavor from the AE Team.
Yanni (Yanislav Georgiev Malahov), Nikola, Luka, and their teams from Aeternity Blockchain foundation have been supportive from the get-go. as a team, we were selected in their Starfleet program which kicked off in early 2020.
Within a span of two months, AEVentures helped us in all aspects starting from providing strong technical advice product development, seed capital, and to above all — moral support which was much needed for our business to get developed.
Currently, we are looking forward to launching our ICO shortly with the AE TEAM.
We, the Hypermine team together are building a safer, user-centric digital future for mankind.
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Hypermine is an avant-garde technology and research organisation that is dedicated to building trust and transparency in the real world.
Using ‘Distributed Ledgers’ as our core technology coupled with ‘Machine Learning’, we are creating digital economies to create a new world for enterprise, government and consumers.
Our vision is to create a world where privacy is a fundamental right, where our data is secure and belongs to us. A global currency that has real value; where piracy does not exist and freedom of expression is encouraged. Where wealth is shared to reduce poverty and all governance is transparent and trusted to make life better for everyone.
This document is copyright and belongs to Hypermine (C), 2020.
All Rights Reserved.
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