Wipro Lab45, the innovation lab of Wipro, has launched a Decentralized Identity and Credential Exchange service that leverages blockchain technology to give users complete control over their private information.
Called DICE ID, the new service issues and verifies tamper-proof digital certificates, enabling users to store their personal information in an encrypted “identity wallet” that they control.
DICE ID lets users decide which information they want to share in their digital settings and when and how to share it. By combining blockchain technology with an encrypted wallet that secures personal user data, DICE provides a tamper-proof historical record of each transaction on the blockchain network.
The new offering is already undergoing testing
Wipro tested the service in September and has since applied it in education, financial technology, healthcare, government, and metaverse applications. For example, DICE facilitates talent exchanges through portable skill credentials for students and freelancers in education.
In financial institutions, the platform helps manage user consent to share data for compliance and regulation while maintaining privacy and confidentiality. In metaverse platforms, DICE creates communities through pseudonymous identities and avatars.
All of this is made possible because DICE is built to comply with the World Wide Web Consortium’s verifiable open data model, designed to make credentials machine-readable and interoperable.
Wipro isn’t the only company working on this
As a result, businesses, communities, and protocols can securely exchange DICE credentials as long as they hold to the standard.
Other companies like Microsoft, Jolocom, ShoCard, and Dragon Factor have also explored decentralized identity management using blockchain technology. However, Wipro Lab45’s DICE ID is set to become a game-changer in the identity space, according to Tatavarti.
“We believe decentralized identity and verifiable credentials technology will become a game-changer resulting in a metamorphosis of the identity space,” she added.
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