July 12, 2024

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ShareRing, a blockchain-based ecosystem providing digital identity solutions, has launched Skinny ID, aimed at offering a seamless and frictionless onboarding process. 

 

Per the announcement:

“Introducing Skinny ID, ShareRing’s simplified sign-up process that removes friction on the onboarding journey and allows users to explore the ShareRing ecosystem without having to provide any government IDs.”

Being a user-focused blockchain platform, ShareRing enables the issuance, storage, verification, and sharing of personal information and key documents. The report noted:

“Previously, ShareRing’s initial onboarding journey added friction to users who were stepping into ShareRing for the first time, which went against our mission to enable frictionless access. It was a more extensive sign-up process that asked for at least one piece of government ID followed by a selfie scan using our face match technology.” 

ShareRing’s blockchain-powered platform also enables financial institutions to undertake processes more efficiently and faster based on its electronic know-your-customer (eKYC) product, which presents users with the flexibility to give data-sharing consent.

ShareRing recently integrated the eKYC process with near-field communication (NFC) technology to make it more reliable and secure, Blockchain.News reported. 

Previously, ShareRing launched a new website with blockchain-enabled digital identities to usher in the Web3 era to tackle the challenge of the loss of autonomy on personal data experienced in Web2. 

Given that the lack of the ability to manage digital identity and footprint in Web2 has been one the primary stumbling blocks to safeguarding privacy and ownership of data, ShareRing intended to solve this challenge with the blockchain-enabled website.

Image source: Shutterstock

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