IAMX — Identity Safety and Security
With the recent attack on IAMX, concerns about the safety and security of an IAMX identity may arise. The attacker wasn’t targeting IAMX identity information, but what if someone decided to do just that? How safe is the identifying information contained within an IAMX identity? This article will answer these and other questions about the safety and security of an IAMX identity.
What is an IAMX identity?
IAMX is bringing the world’s most secure and user-friendly Self-Sovereign Identity (SSI) solution to the Internet, empowering individuals with the ability to own their identity. Users manage and control their identity, and are able to consent (or not) to the use of their identity data. So an IAMX identity is a set of identifying information that is owned and managed by the individual who holds it.
There are four ways to establish an IAMX identity: using a Biometric Identity Terminal (BIT); Self-enrollment using pre-authenticated identity data from a trusted and established database (a telecommunications service provider, for example); Self-enrollment through on-demand Know Your Customer (KYC) services; and Self-enrollment using a wireless-enabled identity document, such as a passport or driver’s license.
How is it secure?
Through any of the four methods used to establish an authenticated IAMX identity, the identity data provided by the user are linked, hashed, copied to the user’s wallet as a transaction on the blockchain, and encrypted. The hashing process uses an irreversible mathematical algorithm that obfuscates any real-text identity information, and represents the first layer of security of an IAMX identity. The second layer of security in this process is the encryption of the hashed data, once it is copied to the user’s wallet.
The important distinction between hashing and encryption is reversibility. Encrypted data, with the correct key, can be decrypted — so the encryption process is considered reversible. Because the hashing process uses an irreversible mathematical algorithm, also known as a one-way function, it is not reversible.
For any identity verification transaction in the IAMX ecosystem, no real text identity data are shared, only the hashed data. So even if someone were able to decrypt the contents of the transaction, they would see only a hashed set of data, which conveys no coherent representation of identity.
These IAMX security standards are compliant with the most stringent data protection standards in the world, including Europe’s General Data Protection Regulation (GDPR).
Where are real text identity data stored?
The real text identity data for an IAMX identity are stored in two places: in the secured database of the Issuer — for example, when the user establishes their IAMX identity through a telecommunications service provider or similar pre-authenticated set of identity data; and in the wallet of the user, to facilitate purchases and other transactions using 1-click Fulfillment.
As a user, your wallet may contain both the pre-authenticated, linked, and hashed identity data mentioned in the four onboarding methods above, as well as any real text identity data you elect to store in your wallet, specifically for the purposes of 1-click Fulfillment — both of which are encrypted in accordance with current blockchain standards.
As such, attacks targeting identity data are limited to only two possible targets. The former relies on established security standards for data protection, and the latter on industry-standard encryption and the security practices of the user.
There is no security measure in the world that is 100% safe. Data breaches happen, and as technology develops, so do security standards and the attack vectors bad actors employ to circumvent them. With that said, IAMX selectively partners with organizations offering pre-authenticated user identity data that employ strict security standards, prioritising the safety and privacy of their customers.
Finally, with the freedom and autonomy granted by owning and managing one’s own identity comes commensurate responsibility. Diligent wallet security and safety practices are critical to mitigating risk and ensuring your IAMX identity remains securely in your wallet.
About IAMX
IAMX is a token-based SSI and authentication system, enabling 1-Click Fulfillment transactions that are legally binding on the state/national level. Further, it adds an identity layer to the internet, so users are able to engage with the internet as if they were logged in.
The vision of IAMX is to empower everyone on Earth to realize their human right to have an identity, with a mission to protect the human right of every individual to hold, control, and own their personal identity.
IAMX allows the Holder to own their identity. Building upon the foundation of SSI, IAMX empowers the Holder to manage and control their identity. IAMX is working closely with members of the Sovrin Foundation to ensure the shared principles of SSI are maintained.
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