Security and Privacy are major concerns for all networked systems. Ledgerium consists of a digital identity platform; the Ledgerium Identity Platform (LIP), which allows users, including individuals, companies, accountants, institutions and governments to register to the Ledgerium network, having authenticated accesses through our website or mobile application.
When users set up their digital identity on our systems, they will have to verify the legitimacy of their identity. This can be done, for example, using a Driver’s License, or TFN, ABN, ACN (Australia), SSA, SEC (US), NCI, SAIC (China), and so on. To allow automation, data transparency and security, LIP contains two types of IDs: Public and Private.
Like a Business ID and Business Name, this will be available to search on the Blockchain, via the LIP. This would work much like a traditional business number lookup, however, with file only being able to be obtained through authorisation via the LIP. Current ABN, ACN, SSN and any kind of identity can be tied to the service allowing a real-world integration with ID systems in use today and what is available on the blockchain.
Only hash of ID detail, and ID file can be viewed from Blockchain, any access on ID detail will need authorisation from owner via LIP.
A user would start by providing one or more forms of identification from within the Ledgerium web or mobile application. Documents would then be signed and send through Ledgerium or a third party for verification. On the user’s device, the key data is protected by using high-end encryption, biometric security (e.g. fingerprint, face ID), and 2 factor authentication (2FA). A typical user login would be verified using the LIP and their hash ID on the Blockchain.