Your global passport to the digitized economy.
Secure your identity on the blockchain
In the physical world, we authenticate ourselves with identification cards, passports or a driver’s license. However, as business grows increasingly online and services move to the virtual world, we need a new, efficient, secure way to prove who we say we are.
Liquidus is solving this problem through its Federated Digital Identity system. Users are provided an online identity stored on the blockchain which will be validated, attested and recognized by experienced and trusted corporate service providers working within the Liquidus Digital Corporate Services platform.
A trusted Federated Digital Identity secures your privacy, guarantees authenticity of information and prevents identity theft and fraud.
What is a Federated Digital Identity?
A Federated Digital Identity is a way of linking a person’s electronic identity and attributes, securely stored on the blockchain. Users can verify their identity electronically using a combination of different aspects through the government (like a driver’s license), banking log information and biometrics such as fingerprints or facial recognition.
Simply put, the Liquidus Federated Digital Identity reduces risk and improves the service delivery model.
Advantages of Federated
Unlike a traditional, centralized framework that puts the control of identity under one key player, a Federated Digital Identity system leverages multiple systems, eliminating reliance on a single service provider. In other words, there is no single point of control or failure that can compromise the entire system.
In financially regulated jurisdictions the ability to create a unified governance model by improving compliance in the service delivery is a major competitive advantage.
Why do we need a Federated Digital Identity?
All stakeholders – users, businesses, corporate service providers, governments – stand to benefit from the Liquidus Federated Digital Identity System.
Public and private sectors shoulder the costs associated with identity collection, and often these efforts are duplicative. For the corporate service providers, the process of verifying identity is costly for financial institutions and their customers with Know Your Client (KYC) and Anti-Money Laundering (AML) compliance accounting for billions of dollars in expenses globally.
Criminals continue to exploit weaknesses in current physical ID systems. An effective Federated Digital Identity system can reduce an individual’s exposure to financial fraud and identity theft.
Improved Regulatory Compliance
Monitoring and reporting complex transactions can be more efficient with a proper identity management system in place.
Privacy and security of personal identification is a growing concern. A Federated Digital Identity system enhances privacy and puts greater control of identity back into the hands of the individual.
How does the Federated Digital
The Liquidus Federated Digital Identity system will be its own blockchain infrastructure that will interact with the Liquidus Corporate Registry protocol to collect ‘Proofs’ of individuals and corporations for compliance.
The Federated Digital Identity will be owned by the individual themselves who will determine which service providers it interacts with, for example, Corporate Service Providers, Law Firms, Banks, and Government Institutions. These service providers will utilize other features such as secure data rooms and cryptographic digital signatures, thus guaranteeing the authenticity of content submitted through a secure portal.
Identity and access management (IAM) is a framework of business processes, policies and technologies that facilitates the management of digital identities. The Liquidus Federated Digital Identity network incorporates a unified governance agreement to manage the policies, business processes, and technology that permit International Business Companies (IBC) to gain I.D to the Bahamas Financial ecosystem and access to the Liquidus Corporate Registry.
Credential Management, also referred to as a Credential Management System(CMS), is an established form of software that is used for issuing and managing credentials as part of the public key infrastructure (PKI). Liquidus manages and stores its PKI across 2 different blockchains. The key is parsed and stored across several nodes, and reconstructed upon request thus providing additional security around cyber attacks.
Access management is controlled by a unified governance layer that includes jurisdiction policies around the role-based access for International Businesses and their respective shareholders. The unified, federated layer of identity acts as the administrative regulator across the permissioned network.