Why DOT I AM?
DOT I AM was created with the aim of improving user control over one's own identity when interfacing with online platforms. In the following, we summarise our principles and techniques.
Background
The traditional approach to KYC processes presents a range of inefficiencies. These processes often involve repetitive and time-consuming procedures that require the surrendering of personal data to multiple parties. This not only undermines their experience but also raises concerns about privacy and data security.
From a business perspective, this approach is fragmented and repetitive. Each KYC procedure necessitates the commitment of significant resources, including manpower for processing and verifying documents, systems for secure data handling and storage, and ongoing management to ensure data accuracy and compliance.
Our solution
DOT I AM addresses these issues. It's a platform embedded within the Astar ecosystem and integrates with Metamask. It offers a single source of truth for KYC data, providing immutable, secure, and efficient storage and retrieval of verified identity data. Zero-knowledge proofs help to protect user privacy, ensuring that sensitive information remains confidential while still allowing users to verify their identities to third parties.
Our goal with DOT I AM is not only to simplify the KYC process for users within the Web3 space but also to significantly reduce operational costs and data security risks for businesses. By transforming the way KYC is performed, we believe we can foster a more seamless, secure, and cost-effective experience for all parties involved.
How it works
DOT I AM is a blockchain-based, decentralised KYC solution designed to streamline identity verification while preserving user privacy. We leverage the Astar network to provide an efficient and secure means of managing KYC data. Here's how it works:
Privacy
Unlike other solutions that rely on storing hashes, DOT I AM leverages the power of data encryption to securely store actual personal data on the blockchain. This encryption ensures that the user, with their private key, can decrypt and access this information, maintaining the control and privacy of their data.
We take privacy a step further with the application of zero-knowledge proofs. Using this cryptographic principle, users can prove they hold specific information (such as being over a certain age) without revealing the actual information itself. This further preserves the privacy of our users and ensures the only necessary information is disclosed.
Differentiation
We acknowledge the presence of other projects pursuing similar goals. However, DOT I AM is designed with key distinguishing features that set us apart:
Data Storage and Retrieval: While some projects like KILT store hashes on the blockchain, we adopt a different approach by storing encrypted data on-chain, and then generating zero-knowledge proofs. Users can store, retrieve and control their actual personal data, providing increased flexibility, privacy, and opens the door to more usage possibilities.
Ease of Access: Another differentiating aspect is our focus on accessibility. Some solutions require users to download specific wallets, which can limit their potential user base. At DOT I AM, we've chosen to integrate with MetaMask, a widely-used digital wallet that's already installed by 80-90% of Web3 users. This approach significantly lowers the barrier to entry and does not require users to download additional extensions, thus broadening our reach and facilitating user adoption.
FAQs
What is the difference between Kilt and DOT I AM?:
Both Kilt Protocol and DOT I AM aim to address the problem of identity verification in the blockchain ecosystem, but we aim to differentiate ourselves in a couple of key ways.
Firstly, Kilt stores hashes on the chain, while DOT I AM stores our encrypted data on the chain and then uses zero-knowledge proofs to protect user data. This means that on Kilt you can only prove your claims, whereas with DOT I AM you can store and retrieve your actual personal data which adds more control and flexibility.
Secondly, to access Kilt you have to download a sporran wallet. In our opinion, this greatly limits the potential user base as not everyone wants to download another extension. However, with DOT I AM, all you need is an Ethereum address. We have initially chosen to integrate with Metamask which automatically gives us access to 80-90% of web3 users without any downloads required.
If my data is stored in the Blockchain, can everyone see it?
No, no one may see your data. Even though the data is stored on the blockchain, it is encrypted using the user's public key. This means that the data is transformed into a format that can only be read and understood if you have the private key to decrypt it. In DOT I AM's case, the user is the one holding that key. This approach ensures that your personal data remains private and secure, while still being able to prove certain facts about yourself, like your age or address, to others.
How can I begin utilising DOT I AM?
To get started with DOT I AM, the only requirement is an existing Ethereum address. We've integrated our platform with Metamask, a popular extension already employed by 80-90% of web3 users. This means there's no need for additional downloads; you can simply connect your Metamask wallet and initiate the process. Our primary goal has been to offer a straightforward user experience.
Once set up, you'll have full control over the information you upload to your wallet. Furthermore, you can selectively choose what specific data you wish to verify, ensuring you retain complete control over your personal information at all times.