We’re glad to announce that we are launching our Testnet v0.1 “Proteus” with an Identity Demo. Previously, we launched the Tokenization Demo, that tokenizes Singapore dollars into SGDR (a tokenized version).
This Identity Demo shows how a user can create a decentralised and verified identity on the blockchain, and how a verifier can review and verify a claim.
How does Rate3 come into the picture?
Given the importance of a decentralized identity, we are building a Rate3 Cross-chain Identity Protocol to build a single decentralized identity profile, that allows for increased attestation and third party verification in the Rate3 ecosystem.
You can read more in detail the Rate3 Identity Protocol, as written by our co-CTO, Davis:
Rate3 Cross-Chain Identity Protocol — Identity and Claims (ERC 725, ERC735)
At Rate3, we initially wanted to build a blockchain-based settlement and clearance network for businesses. We…
The Identity Process
First, lets define the two main entities:
- The User wants to verify his identity through submitting a claim
- The Verifier is usually a trusted institution, who will verify the user’s claims and sign off
Let’s detail the steps:
- User wants to verify any of the elements on his identity (Name, Address, Social ID etc..)
- User makes a claim on his identity by inputing his details and choosing a Verifier
- User submits the claim, and waits for Verifier to verify
- Verifier reviews the User’s data, signs it and returns signed claim back to User
- User submits the signed claim to the blockchain, adding on the claim to his identity
Let’s dive into it!
Step 1: Start Demo
Step 2: Choose “User” first
After going through the ‘User’ flow, you’ll be able to test out ‘Verifier’ later.
Step 3: Check out your own Profile
Here, you’ll see 3 parts of your iedntity that you can add claims for: Name, Address and Social ID.
Step 4: Click Register
In this example, the User chooses to verify his home address. He/she inputs his address, and chooses a Verifier to verify the address.
Step 5: You should see that your ‘Address’ Verification is pending now
For any pending verification, wait for the Verifier to verify your address.
Step 6: If the Verifier verifies and signs your claim, you can then publish your signed claim onto the blockchain
Make sure you’re on Ropsten Test Network, and confirm the transaction through Metamask.
Step 7: Once you’ve published it to the blockchain successfully, you’ll see this:
What if you’re a Verifier?
Now, if you’re a Verifier, you can browse different users who have initiated a claim request and choose to verify their identity.
Step 1: See both ‘Pending’ and ‘Verified’ requests
Step 2: Click on any Pending Request
In this case, the user has requested for the Verifier to verify the user’s claims about his address.
Step 3: After verifying the user’s details, sign the Verification request
Step 4: You’ll see that the ‘Pending Request’ has become a ‘Verified Request’!
That’s all! You have just tried what is considered to be the future: a truly decentralized identity.
Feel free to try! If you have any feedback, feel free to share with us on email@example.com.
Rate3 is a decentralised dual protocol for cross-chain asset tokenization and identity management. The Rate3 Tokenization Protocol is an end-to-end protocol for tokenization on both Ethereum and Stellar, while the Rate3 Identity Protocol is a protocol to create and manage a unified cross-chain identity.