EarthId – A Decentralized Identity Management Platform
MyEarth.Id today announces that it has selected the Hedera hashgraph public distributed ledger upon which to build its Global Identity Management platform. MyEarth.Id has undertaken a mission to simplify the process of validating human identity, providing seamless access to online and offline services like banking, e-commerce, immigration, travel and others, to all human beings on Earth.
To achieve this, MyEarth.Id is developing an innovative Universal ID solution, which counters the key problems with existing centralized and monolithic identity management solutions, in a cost-effective and secure manner. This new solution will alleviate the paramount problem of identity theft and associated fraud, for both individuals and institutions.
In addition to this, MyEarth.Id is also introducing a proprietary concept of identity scoring, called Trust Score. Trust Score will empower institutions to make their regulatory and financial decisions in a more measured and information-driven way, instead of a simple “Yes” and “No”. A MyEarth.Id user can develop a strong Trust Score by uploading identity documentation to the platform, which it will grade for consistency and also through regular use of the platform.
The Hedera hashgraph platform is a public, distributed ledger that enables anyone to easily develop secure, fair, lightning fast, and globally distributed applications. The long term vision for MyEarth.Id will require both high performance and security which can be uniquely addressed by Hedera.
“Hedera hashgraph offers a next-generation distributed public ledger, which I believe is faster, fairer, and more secure than the other available distributed ledger technology platforms. Since MyEarth.Id has a vision to onboard every human being on Earth, it’s paramount for us to start by selecting right platform,” said Shiv Aggarwal, CEO at MyEarth.Id.
“Identity is a field that is ripe for disruption by distributed ledger technology,” said Jordan Fried, VP of Global Business Development for Hedera. “MyEarth.Id has a bold vision for how it wants to change the way consumers manage, protect and share their identity, and we are pleased that the management team has selected to build their solution on top of Hedera’s public ledger, to give them the performance and security that they need to make their vision a reality.”
MyEarth.Id is planning to raise $30 million through its token sale.
The Hedera whitepaper can be found at https://hederahashgraph.com/whitepaper