At Numio, we give people more control over their identity and their money.
In a previous article, we have widely discussed the money side, and how we are helping to scale Ethereum through our noncustodial mobile application. This article is focused around how we have created an incredibly powerful way for users, and businesses, to manage digital identities.
A problem that arose in Web2.0, and has continued to be an issue Web3.0, is how prone users/people/systems are to sybil-attacks.
If you are not sure what a sybil attack is, it’s when someone makes numerous fake and /or anonymous accounts to attack an online network. An example could be creating false accounts on Twitter and posting fake news or information. In blockchain, a sybil-attack occurs when an group of hostile nodes are able to outperform the “honest nodes” (good actors), and block certain data from transmitting through a network (e.g. Ethereum).
The Numio identity management system helps prevent such a sybil attack by allowing users to link a single verified identity to accounts across multiple platforms. Any platform that then allows accounts to be created via Numio can be sure that the account has been made by a real person.
The beauty behind what Numio has developed is the ability to prove and even verify your identity online through zkProofs (zero-knowledge proofs). The zkProof method allows individuals to verify themselves without needing to expose any personal data to third parties- many businesses want to ensure that it is a real person using their platform.
The Numio identity management system can be utilized in any platform – from social media to financial institutions.
So how does Numio give you greater control over your online identity?
When going through the identity checking process you have the ability to become Numio Verified. This is a process where you get a “checkmark” on your Numio-ID, which proves that you have been verified on the Numio app, and enables you to prove that you are who you say you are. This process of identity verification is also considered the highest form of sybil-resistance.
What is the process of going through verification, and does Numio store this information?
The verification process is simple. You go through an Artificial Intelligence (AI) liveness detection process, which makes sure that your selfie is a real human and not a deep fake, mask or video/photo. The AI also checks that your face matches the photo on your document.
At the same time, your document (either a Driver’s License, Passport, or Government ID) is checked by AI to make sure it is not forged. This process also confirms that the person has not committed any type of money laundering crimes (AML) by running them through global sanctions lists. Upon passing this criteria, which takes just a minute to complete, you become Numio Verified.
This allows you to have a verification of data proving you are Numio Verified on the Numio server, which will be stored immutably in the future. This “verification of data” is just a hash saying that you have passed the requirements necessary for being approved. This hash does not contain any information about your identity though. There is no other data/information stored on Numio’s servers regarding this process- just this “checkmark” of validation.
What is the relationship around PhoenixDAO with your Identity Management solution?
The Numio identity management solution is available as a service to third parties who want to have hassle free customer verification.
We take a percentage of the revenue paid for this service and use it to purchase $PHNX tokens off of secondary markets (e.g. Uniswap). These tokens are then staked by Numio and any returns (interest) that is generated, is sent to the foundation for them to use as they please (based on voting).
On a more technical note, the identity smart contract that the PhoenixDAO team uses is based on ERC-1484. The PhoenixDAO team is hard at work on a v2.0 of their identity contract. Like our mobile app, this v2.0 is built on a scaling solution that the Numio team will be able to leverage for the creation of on-chain identities. This process will further the ability for creating an economy of decentralized identities (DID).
What does this mean moving forward?
Photo by Hello I’m Nik on Unsplash
