EarthID awarded Innovate UK Smart Grant funding to develop a device-agnostic SSI wallet for fraud prevention
LONDON, UNITED KINGDOM, May 15, 2023/EINPresswire.com/ -- EarthID, a multi-award-winning decentralized self-sovereign identity (SSI) platform, in partnership with City University of London (CUL) has been awarded the prestigious Innovate UK Smart Grant funding to develop a user-centric device agnostic self-sovereign identity wallet for fraud prevention. Smart is one of Innovate UK’s most competitive programmes, which supports innovative projects that have the potential to make a significant impact on society and the economy of funding.
Space-Wallet is a first-in-class fraud-proof, portable, reusable, user-centric, W3C-compliant, cloud-based, decentralised ID wallet, which enables management of digital ID/credentials. Space Wallet is device-agnostic and can be accessed through any device without compromising security. The wallet will provide users with control over their personal information, thereby reducing the risk of identity theft and fraud.
Priya Guliani, CEO, EarthID said:
"We are thrilled to have been awarded this prestigious grant from Innovate UK and it is a massive validation of our vision to drive social, financial, and digital inclusion by providing a secure and user-centric digital identity solution for everyone. Our partnership with City, University of London will enable us to develop a cutting-edge solution that will prevent fraud and provide a seamless user experience. We are excited about the potential of self-sovereign identity to transform financial industry, and we are grateful for the support of Innovate UK in helping us make this vision a reality."
Director of City’s Institute for Cyber Security, Professor Muttukrishnan Rajarajan, said:
“As we move from the physical to the metaverse it will become increasingly more important to manage our identity credentials, payments, and digital assets. Hence the necessity to own a digital wallet that is secure, preserves privacy and is interoperable. This extremely exciting EarthID project will develop the next generation of digital wallets which are device-agnostic, cloud-based and user-centric and will empower citizens to manage their identities, digital assets, and digital money.”
EarthID is a multi-award-winning decentralized Identity platform that enables organizations to issue and verify digital ID and credentials securely and seamlessly.