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GlobeNewswire
264 Leser
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ShoCard: ShoCard Meets EU's GDPR 'Privacy by Design' Standards through its Identity Management Solutions

Blockchain-based identity management platform addresses provisions of EU data
legislation 

CUPERTINO, Calif., 2018-01-22 15:59 CET (GLOBE NEWSWIRE) --
ShoCard, a leading blockchain-based identity management system (IMS), today
announces its technology meets the European Union's (EU) new regulatory
framework for data, known as the General Data Protection Regulation (GDPR),
"Privacy by Design" standards. The IMS removes the necessity for authentication
data to be stored on organization databases. Instead, it is stored completely
on the user's mobile device, secured with their private key and shared via the
blockchain. Affected EU-based companies, as well as U.S.-based and other
foreign-based companies, processing or holding the personal data of persons
residing in the EU, no matter where they are located or where its data is
processed within the region, are expected to have GDPR compliant solutions in
place ahead of the legislation's enforcement date of May 25, 2018. 

With user privacy at the core of ShoCard's value proposition, ShoCard solutions
meet "Privacy by Design" standards. ShoCard's IMS platform gives users control
over their data and helps companies comply with GDPR by allowing companies to
authenticate users without storing their authentication personally identifiable
information (PII) data. By using the blockchain as a source of validation,
ShoCard solutions protect a user's privacy, as the original data can never by
reverse engineered. It can only be used, with the user's permission, to
independently identify the authenticity of the user. 

"The problem with merely encrypting data is that it's not secure enough to be a
full solution to GDPR and data privacy requirements. If the key to the
encrypted data is ever found, then it can be accessed by hackers," said Armin
Ebrahimi, CEO and founder of ShoCard. "IMSs using blockchain technology, like
ShoCard's solutions, remove the need to store PII at all, which circumvents the
necessity of large, vulnerable databases and meets GDPR requirements." 

In addition, using the platform ultimately reduces requests to access, erase
and correct user data, as the data is not stored on company databases.
Organizations also obtain definitive proof of consent for permission-based user
data. ShoCard solutions facilitate permission-based access of information by
giving users control of the sharing of their data, leaving an audit trail of
consent on the blockchain. The user can remove that consent at any time,
satisfying the GDPR's right to erasure. 

Learn how ShoCard can help your company with GDPR compliance
https://shocard.com/gdpr/. 

For more information on ShoCard, visit www.shocard.com. For more information on
ShoBadge and to request a demo, visit www.shocard.com/shobadge/. 

About ShoCard

ShoCard, Inc., based in Cupertino, Calif., is a mobile-identity platform built
using blockchain technology that provides a simple and intuitive mobile
application for definitive authentication while protecting users' privacy. This
allows for a variety of use cases, such as repeat authentication, true-digital
signature with non-perishable audit-trail, transaction authorization to prevent
fraud, frictionless login services without username/passwords, and user
authentication in financial transactions, travel, health, government and
industries where digital identity matters. 

PR Contact
Amber Richards
Uproar PR
arichards@uproarpr.com
321-236-0102
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© 2018 GlobeNewswire
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