Innovative zkKYC technology is now live on Galactica.com testnet.
ZURICH, SWITZERLAND / ACCESSWIRE / July 23, 2024 / Galactica.com, a leading name in decentralized identity solutions, is thrilled to announce its integration with SwissBorg, the leading regulated European financial institution. This integration marks a significant milestone with the launch of zkKYC (Zero-Knowledge Know Your Customer) technology now live on TestNet.
You can also read: SwissBorg zkKYC
zkKYC: Pioneering Privacy and Ownership
zkKYC technology transforms the way personal data is managed and verified. With zkKYC, users can prove specific data points to third parties without disclosing any additional, unnecessary information. This ensures unparalleled privacy and security in personal data handling.
You can also read: zkKYC tech specifications
Enhanced Privacy and Control
The zkKYC credential is generated directly on the SwissBorg platform in the form of a zkCertificate, the zkCertificate is then downloaded and securely stored on the user's local device. From which they can upload ZKP proving their identity without compromising on their privacy. This approach ensures that users maintain complete ownership and control over their identity data. SwissBorg has no visibility into which user is connected to which wallet address, thereby significantly enhancing privacy.
Self-Custody and Sovereignty
In an era where data breaches and privacy concerns are rampant, zkKYC provides a robust solution for self-custody of identity credentials. Users can confidently prove their identity by uploading a private hash from their zkKYC credential via MetaMask Snap, ensuring their identity is verified without disclosing their actual identity details. This groundbreaking capability underscores the beginning of true sovereignty over personal identity.
Why this is a big deal for the users of Galactica
All users of Galactica Network are now able to generate a zkKYC, by leveraging the compliant legal infrastructure of SwissBorg. This allows them to prove their identity on chain while maintaining their privacy and remaining compliant with KYC regulations.
Key Highlights:
zkKYC = Increased Privacy: The innovative technology ensures only necessary data is shared, protecting user privacy.
Self Custody = Stored Locally: Users store their zkKYC credentials locally, maintaining full control over their identity data.
Sovereignty for Identity Starts Here: This integration heralds a new era of self-sovereign identity management.
First production ready zkKYC with a leading regulated european brokerage: This marks the first production ready implementation of zkKYC, setting a new standard in privacy and identity verification.
About Galactica.com
Galactica.com is at the forefront of decentralized identity solutions, dedicated to providing users with secure, private, and user-controlled identity verification tools. Through cutting-edge technology like zkKYC, Galactica.com empowers individuals to take control of their personal data, ensuring privacy and security in the digital age.
About SwissBorg
SwissBorg is Europe's leading regulated financial insistitution and wealth management platform, offering a range of innovative financial products and services. SwissBorg is committed to revolutionizing the financial industry by integrating advanced technologies and providing superior user experiences.
For more information, please visit Galactica.com and SwissBorg.
Media Contact:
Alexander Kalén,
Galactica - CGO
Marketing@galactica.com
Galactica.com and SwissBorg are proud to lead the way in setting new standards for privacy and control in the digital identity space. Stay tuned for more updates as we continue to innovate and enhance our offerings.
SOURCE: Galactica
View the original press release on accesswire.com
