Three Pillars Of Phaeton Identity
The three pillars of Phaeton Identity are (1) the Verifiable Credentials protocol, (2) the Decentralised Identifiers protocol and (3) Distributed Ledger Technology (or Blockchain).
Verifiable Credentials
Decentralised Identifiers
Distributed Ledger
Why choose Phaeton ID?
Get next generation trust infrastructure working for you. Decentralized identity solutions offer several benefits over traditional, centralized identity systems:
User Control
Decentralized identity solutions provide users with greater control over their personal data. Users can choose which information they want to share and who they want to share it with, without relying on a centralized authority.
Security
Decentralized identity solutions are more secure than traditional, centralized identity systems. Blockchain technology provides a tamper-evident, immutable ledger that ensures the integrity of identity data.
Privacy
Decentralized identity solutions protect user privacy by minimizing the amount of personal data that is shared. Users can choose to share only the data that is necessary for a particular transaction or service.
Interoperability
Decentralized identity solutions can enable cross-border, cross-platform, and cross-domain identity verification, allowing users to seamlessly access services and platforms across different ecosystems.
Reduced Fraud
Decentralized identity solutions can reduce fraud by providing a more secure and reliable means of identity verification.
Where Can Phaeton Identity be Used?
Opening a bank account
International traveler
Legal processes
E-commerce checkout
Previous employment verification
Health records
Why Decentralized Identity (DID)?
The rise of blockchain technology has brought about a new era of decentralized applications and services. One area that has seen significant development is decentralized identity solutions. Decentralized identity (DID) solutions aim to address the challenges of traditional, centralized identity systems, such as data breaches, identity theft, and lack of user control over personal information.
This whitepaper provides an overview of decentralized identity solutions, including the benefits and challenges, technical requirements, and potential use cases.
Roadmap
2023
Q1-Q2
- Decentralized Product Development.
- Identity smart contracts development.
- Identity smart contract audits.
- Identity smart contracts are available.
- Phaeton Identity open to all participants.
- First PIDK (Phaeton Identity Tool Kit) available for Government ID, documents, email and phone validation.
Q1-Q4
- Growth, Partnerships and Collaboration announcements.
Q3
- External validators can host their nodes and move ahead with staking protocol.
- Identity Validators can offer their validation services directly to requesters in a B2B solution.
- Establishing concrete DID functions on Phaeton.
- Multi-device identity nprofiles.
Q4
- Implementation of data sharing.
2023
Q1-Q2
- Decentralized Product Development.
- Identity smart contracts development.
- Identity smart contract audits.
- Identity smart contracts are available.
- Phaeton Identity open to all participants.
- First PIDK (Phaeton Identity Tool Kit) available for Government ID, documents, email and phone validation.
Q1-Q2
- Decentralized Product Development.
- Identity smart contracts development.
- Identity smart contract audits.
- Identity smart contracts are available.
- Phaeton Identity open to all participants.
- First PIDK (Phaeton Identity Tool Kit) available for Government ID, documents, email and phone validation.
Q1-Q4
- Growth, Partnerships and Collaboration announcements.
Q1-Q4
- Growth, Partnerships and Collaboration announcements.
Q3
- External validators can host their nodes and move ahead with staking protocol.
- Identity Validators can offer their validation services directly to requesters in a B2B solution.
- Establishing concrete DID functions on Phaeton.
- Multi-device identity nprofiles.
Q3
- External validators can host their nodes and move ahead with staking protocol.
- Identity Validators can offer their validation services directly to requesters in a B2B solution.
- Establishing concrete DID functions on Phaeton.
- Multi-device identity nprofiles.
Q4
- Implementation of data sharing.
Q4
- Implementation of data sharing.
2024
Q1
- Identity account recovery protocol.
Q2
- Identity enabled payment solutions.
Q3
- Enable identity checks with on-chain smart contracts while maintaining user privacy.
2024
Q1
- Identity account recovery protocol.
Q1
- Identity account recovery protocol.
Q2
- Identity enabled payment solutions.
Q2
- Identity enabled payment solutions.
Q3
- Enable identity checks with on-chain smart contracts while maintaining user privacy.
Q3
- Enable identity checks with on-chain smart contracts while maintaining user privacy.
Discover how Phaeton ID is transforming personal identity