HIBI encompasses scalable blockchain, decentralized legal reputation and identity systems and interoperable semantic web technologies.
Problem to solve:
Currently, state of the art blockchain technology solutions manage to address what is known as the blockchain trilema with varying trade-offs. Most major public blockchains are to some extent decentralized, scalable, and secure. Blockchains such as Ethereum chose decentralization and security over massive scalability and are now working to improve scalability by implementing Proof of Stake and sharding. In our view enough innovation has flowed into adequately addressing this trilema and a number state of the art blockchains offer acceptable solutions for use as the underlying protocol for ONTOCHAIN (Ethereum, Hyperledger, Solana, Polkodot, Cosmos).
Our Human Identity Blockchain Initiative will integrate legally binding eIDAS compliant identity into the transaction signing process directly. On the ONTOCHAIN blockchain users will onboard themselves by generating a private public key pair and then linking this key pair to their state-issued identity by completing an nfc-based authentication using their national identity card. This process occurs using the european eIDAS standard and complies with standardized ontologies for identity. Data from the identity verification can be stored for the exclusive use of the identity holder in a second layer self-sovereign identity implementation compliant with the core private public key infrastructure utilized.
Parallel to this, the client will create an encrypted sharded backup leveraging our Smart Distributed Key Recovery (SDKR) infrastructure. Essentially this backup infrastructure solves the holy grail of backup and recovery by leveraging a unique identifier generated by the eIDAS signing process to secure the user's private key such that they and only they can retrieve it and require only their EU identity card to complete the transaction.
It is our assertion however that none of these systems adequately address identity and compliance issues. Almost uniformly across the current generation of internet technologies and blockchain technologies one encounters a dichotomy between decentralized applications which do not implement trustable legal identities and centralized technologies which use a hodgepodge of legacy technologies to meet the low bar of 'Know Your Customer' and 'Anti-Money-Laundering' regulations.
HIBI will ensure formal privacy preserving identity on the blockchain for the first time in history. We will accomplish this in compliance with EIDAS for EU identity documents.
Not available yet
Not available yet
NGI Project: Ontochain