CUPERTINO, Calif., Aug. 02, 2018 (GLOBE NEWSWIRE) -- ShoCard, the leader in blockchain-based identity management, has been named a top vendor in the One World Identity (OWI) report, “Blockchain and Identity in 2018: A Year of Promise and Pilots," released today. The new whitepaper from OWI, an independent advisory firm focused on trust and the data economy, provides a comprehensive review of the state of blockchain for identity as of the second quarter of 2018. The paper highlights 18 companies and organizations — 13 featured companies and five up-and-coming companies to watch — at the forefront of the blockchain identity landscape.
“As a company operating in the space since 2015, ShoCard is well-established compared to many of our peers. In this time, we’ve developed patented technology that uses mobile devices and blockchain to upend the username-password paradigm, eliminating the need for them altogether,” said Armin Ebrahimi, CEO and founder of ShoCard. “We’re honored to have our enterprise solution, ShoBadge, featured in OWI’s whitepaper, validating our continued disruption of the identity management industry.”
Among the report’s findings are the following observations:
- Investment in blockchain-based projects has already surpassed 2017 totals, but the hysteria has subsided.
- Expect 2019 to be a year of retrenchment as enterprises get smarter about their needs, regulators catch up, and the bad ideas start to peter out.
- Investment levels in blockchain-centric companies and organizations have remained high, and more educated investors and customers have begun to differentiate cryptocurrencies from the wider applicability of distributed ledger technologies.
Included in the solution providers section of the report, ShoCard uses the immutable ledger of the blockchain to allow users and service-providers to verify identity using a cryptographically secure method. With ShoCard’s patented technology, users are freed from the need to maintain separate user IDs and passwords for each service used. Instead, an individual’s identity stays with them on their mobile device, locked under a private key, making the process of sharing and authenticating identity more efficient, private and secure. This method of authentication eliminates the utility of centralized databases full of personally identifiable information (PII) that can be hacked and used against individuals and enterprises.
“In the past year we’ve seen the market start to grapple with exactly the kinds of questions we see as critical to blockchain development in the identity space,” said Travis Jarae, CEO of OWI. “Solutions are beginning to coalesce around a more defined set of identity use cases, with governance structures designed with targeted functionalities and regulatory concerns in mind.”
For more information, download the full report here. For more information on ShoCard, please visit http://www.shocard.com.
About OWI
OWI is an independent trust and data economy research and strategy company focused on cybersecurity, digital commerce, and risk management. We help businesses, investors, and governments stay ahead of market trends so they can build sustainable, forward-looking identity-enabled products and strategies. We accomplish this by building community and facilitating dialogue through our events, the KNOW Identity Conference, as well as servicing the community with our educational content, news, media, independent research, and consulting.
Visit OWI at www.oneworldidentity.com for the latest in identity news, events, opinion and research.
About ShoCard
ShoCard, Inc., based in Cupertino, Calif., is a mobile-identity platform built using blockchain technology that provides a simple and intuitive mobile application for definitive authentication while protecting users’ privacy. This allows for a variety of use cases, such as repeat authentication, true-digital signature with non-perishable audit-trail, transaction authorization to prevent fraud, frictionless login services without username/passwords, and user authentication in financial transactions, travel, health, government and industries where digital identity matters.
Media Contact
Amber Richards
Uproar PR on behalf of ShoCard
arichards@uproarpr.com
321-236-0102 x237