Decentralized Identity management is no longer a dream and is now a reality

Description

In a world that is becoming increasingly more digital, users are losing more and more of their privacy. With centralized platforms, users have to trust that these platforms will not leak their sensitive information, which could result in identity theft and identity usurpation. Users need a way to manage their identity, ideally in a sovereign way and with some degree of privacy. That is the problem ALTME is solving.

What is ALTME?

ALTME is a decentralized and non-custodial wallet that focuses on Decentralized Identity (DID). ALTME allows users to interact with dApps (decentralized applications), manage their digital assets and show proof of identity, age etc.. through the use of verifiable credentials, all in a sovereign way. Decentralized Identity (DID), also known as Self-Sovereign Identity (SSI) is a system where a user has complete control over his personal data. That way, the user does not have to rely on centralized entities. Verifiable credentials are digital documents owned by users. They contain personal information and are secured through cryptography 

How does it work?

There are two parts to this process. First, the Off Chain verification where the users has to do a KYC. ALTME then issues the verifiable credentials that can instantly be verified.

Once verified, a user can proceed to On-Chain verification by creating a Soulbound Token (SBT), which is essentially a non-transferrable NFT. dApps can then verify information about the user without having to actually know the personal information. This preserves the user’s privacy while ensuring compliance.

Image source: ALTME’s website

With ALTME, you’re not limited to only verifying your identity. You can also verify your age, residency, diploma, address ownership, financial information, proof of humanity (not being a bot), loyalty and membership cards and many more. ALTME can be viewed as an all-in-one decentralized and non-custodial wallet that unifies the verification of your sensitive information in a secure, cryptographic and sovereign manner, while preserving your privacy and security. 

Benefits & Outcomes
  • Decentralized and non-custodial wallet
  • Provides more interoperability
  • Enhanced security and privacy
  • Easy to verify your personal information with verifiable credentials
  • Fosters compliancy
  • Give users the control of their assets and own your data
Links
Further Info

With ALTME, you can also verify your DeFi Compliance On-Chain. For now, this feature is only possible on 4 different blockchains: BNB Chain, Tezos, Ethereum and Polygon.

ALTME is also available for businesses. Businesses can use ALTME to provide a better onboarding for their users. For instance, Centralized exchanges can ensure their compliance and have a faster onboarding process. Overall, ATLME is ideal for a wide array of businesses such as:

  • Centralized exchanges, borrowing and lending platforms, trading and tokenization platforms
  • ICOs and STOs
  • Gaming Platforms
  • Betting Platforms
  • E-Sport events
Status

Project is live. For apple store, download the app here and for Google Play here. Researched by Alexandre in February 2024.

© Antony Welfare 2024

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