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Salt Lake City, UT, Jan. 30, 2019 (GLOBE NEWSWIRE) -- Evernym, the leading provider of Self-Sovereign Identity* solutions, to issue, verify, and hold digital credentials, today announced the recipients of its first-ever Identity for Good Initiative (ID4G). The Initiative gives select nonprofit organizations access to its technology Accelerator, which regularly costs $50,000 a year and offers new technology, advanced digital identity tools, education and support for building digital ID.
The five recipients are DECODES, iRespond, The International Committee of the Red Cross (ICRC), Rohingya Project and Tykn.
“Our ID for Good Initiative gives NGOs that are on the frontlines of some of the world’s most pressing demands for digital identity an opportunity to participate in a technological revolution at no cost,” said Timothy Ruff, CEO of Evernym. “We’re happy to be bringing together NGOs, governments and commercial interests alike to increase access to necessary technologies and accelerate innovation for Self-Sovereign Identity. Representation among the nonprofit community is essential for diversity of thought and deployments.”
One of the most recognized recipients of the ID for Good grant is the Red Cross. It is the largest distributor of humanitarian cash in the world, having given out nearly $1B in 2017. That's why its decision to use blockchain to create digital IDs for its millions of constituents has become an organization-wide priority. After assessing multiple digital ID solutions, it sought to become part of the Evernym ID for Good Initiative largely because the company’s technology doesn't store personally identifiable data on the blockchain.
“The humanitarian community exists in a bubble, so access to an existing community of experts and new technologies to help us better serve communities in crisis is an amazing opportunity,” said Nathan Cooper, Senior Adviser at Red Cross.
“We hit the realization that we can no longer do this with a spreadsheet and beneficiary ID cards. We need something more sustainable, something people can establish, create, hold, and access their identities. It brings dignity, choice and economic stimulus to the local markets where humanitarian aid is needed,” said Caroline Holt, head of global cash distribution, Red Cross.
The World Bank estimates more than 1 billion persons, usually the most vulnerable, are without formal identity. This prevents them from asserting their rights, receiving benefits, keeping their families together, and sometimes affects their very safety. Digital identity is seen as a key solution to this problem. This is especially true thanks to some of the latest advances in the field of Decentralized Identity and one of its more intriguing implementations, Self Sovereign Identity. Many humanitarian-focused organizations are eager to study this technology and determine its applicability for their own mission, but many balk for budgetary reasons.
To learn more about the ID for Good Initiative, please visit: https://www.evernym.com/identityforgood
About the Accelerator
Evernym’s Accelerator Program enables its members to perform hands-on evaluations of some of the most advanced concepts and technology in digital identity today. Members determine how this technology applies to their business and how it can be implemented. Members in the Accelerator receive from Evernym access to technology, advanced digital identity tools, education, support, and expertise. Participants in the Accelerator program are also encouraged to interact with each other and even create prototypes that test complex real-life scenarios like cross-organization use cases.
Founded in 2013, Evernym develops software solutions that leverage cryptography and blockchain technology to establish trust in the interaction of individuals, organizations and connected devices. Learn more about Evernym and its self-sovereign identity solutions at evernym.com.
* Self-Sovereign Identity (SSI) is the concept that a person, business, organization, or IoT device securely and privately stores and controls their own identity data (often provided by trusted institutions) on their individual devices- commonly stored in a cryptographic digital wallet. Then, if an identity needs to be verified, --like opening a line of credit or proving you are of age to order a drink-- it is as efficient and easy as pulling out a phone and making a few clicks. SSI gets rid of individual passwords, accounts, and troves of toxic data sitting on centralized, and often unsecure, servers.
Brandon Knowlden Evernym, Inc. +1 (385) 246-1300 email@example.com