Unannounced large open source foundation adopts Atala PRISM. Atala PRISM aims to revolutionize identity management for businesses, governments, and individuals. Open-Core Adoption for Decentralized Identities In a recent webinar, Charles Hoskinson, the founder of Cardano, announc...
- Unannounced large open source foundation adopts Atala PRISM.
- Atala PRISM aims to revolutionize identity management for businesses, governments, and individuals.
Open-Core Adoption for Decentralized Identities
In a recent webinar, Charles Hoskinson, the founder of Cardano, announced that Atala PRISM, the project’s decentralized identity solution, is being open-core adopted by an unannounced large open source foundation. This move aims to accelerate the commercialization of decentralized identifiers (DIDs) and enhance the adoption of secure, private identity management.
Cardano's SSI solution Atala PRISM is being open-core adopted by an unannounced large open source foundation to help with DIDs commercialization @IOHK_Charles explained during the @fs_insight webinar. #Cardano https://t.co/YpHhJYyFH3 pic.twitter.com/M10JvzX5DW— St₳kΣ with Pride(@StakeWithPride) April 25, 2023
Atala PRISM: A New Approach to Identity Management
Atala PRISM is built on the Cardano blockchain, offering a unique approach to identity management where users retain ownership of their identity and have full control over the use and access of their personal data. This decentralized solution ensures that data is shared only through secure, private peer-to-peer communication channels, making it suitable for businesses, governments, and individuals.
Traditional identity management systems pose significant risks and costs to businesses that need to store and secure sensitive information. Governments face inefficiencies in their paper-based, bureaucratic processes and are susceptible to personal data fraud. Individuals often lack trust regarding the potential misuse or unauthorized sale of their information to third parties.
Atala PRISM addresses these issues by enabling a new approach to digital identity, allowing people to own their personal information and share it only when necessary with businesses or institutions in a secure, private manner.
Benefits for Businesses, Governments, and Individuals
Atala PRISM offers numerous advantages for various stakeholders. Businesses can quickly onboard new customers, reduce compliance risks and costs, and deliver seamless user experiences. Governments can issue digital identities and enable instant access to public and private services. Individuals gain ownership of their identity and data, controlling how their personal information is used and accessed.
Key Components of Atala PRISM
Atala PRISM provides several essential features, including:
- Mobile App: Users can access a customizable app for receiving, storing, and sharing digital credentials.
- Management Console: Organizations can easily issue or verify digital credentials with a user-friendly, decentralized management platform.
- Browser Wallet: A web-based browser extension allows managing DIDs, accessing the Management Console, and authorizing credential issuance.
- SDKs and APIs: Businesses can integrate digital identity and credential issuance and verification functionality into their applications and workflows.
- Enrollment Tool: A lightweight mobile app captures biometric data during the onboarding process.
- SmartCard: A low-cost smart card enables storing and sharing digital credentials, expanding the ecosystem.
This open-core adoption of Atala PRISM marks a significant step forward for decentralized identity management, promising to reshape the way businesses, governments, and individuals handle personal data.