Loop Insights Inc, a provider of contactless and AI solutions has joined the Sovrin Foundation, an open-source, open-standards technology platform for digital identity. Built on a public blockchain, the Sovrin Ledger protects personal information, giving the power of personal data back to the individuals. The company has joined Sovrin Foundation among over 70 leading tech organizations including Cisco, T-Mobile, and NEC.
Loop Insights is Integrating With Sovrin Foundation
Loop Insights currently issues its credentials through its native mobile wallet, embedded in iOS and Android smartphones, leveraged by Passcreator. However, this data can be often difficult for third parties to verify. In January, Loop acquired Passcreator to provide the company with complete control over Passcreator and its wallet pass platform.
By joining the Sovrin, Lopp-issued credentials can now be fully verified by any third party. Therefore, by validating the data on the public Sovrin Ledger, Loop can now expand the interoperability of its mobile wallet passes, which can be validated by any organization or individual.
The security of the Sovrin Ledger will further enable users to share individual pieces of information with third parties without revealing their entire personal identity.
In the announcement release, Chris Raczkowski, Chair of the Sovrin Foundation Board of Trustees stated:
“The Sovrin Foundation is very excited to welcome Loop Insights as the newest Steward of the Sovrin Ledger. The innovative Loop Insights team will strengthen the Sovrin network moving forward as we continue to offer secure and privacy-preserving digital identities for all.”
Offering World’s First Blockchain-Backed Digital Wallet Pass ID Platform
The integration of Loop Insights and Sovrin Foundation is expected to enhance the existing security and privacy of personal information, offering the world’s first blockchain-backed digital wallet pass identity platform.
Loop’s goal is to design a platform that provides seamless interoperable data connectivity for physical venue and retail operators. With the latest addition of blockchain verification, the company is now able to issue verified digital wallet credentials through the native wallet in every kind of smartphone.
The Sovrin Foundation is a non-profit social enterprise that overseers the Sovrin Governance Framework and the Sovrin Ledger, a decentralized global public identity utility that enables self-sovereign identity (SSI) on the internet.