We don't know how much fraud is baked into the system, but experts tell us this is a crisis. Today multiple people may present your "official" birth certificate to comply with the REAL ID Act of 2005. The new hurdle is verifying that you own it!
To re-set the foundation, WAULT by Wymsical unites local communities to authenticate, empower, and instantly verify you are who you say you are. Local "Anchor Institution" Members authenticate new "Owner" Members, starting a "chain of credentials" to build a Wymsical Trust Score.
This model is a hybrid of self-sovereign and community identity models, as discussed in the comment on the Wall Street Journal article, "Digital Identity is Broken. Here's a way to fix it." by Alex "Sandy" Pentland and Thomas Hardjono, MIT. The certified digital credentials (and only the credential and its metadata) in an "Owner" WAULT maintain a "live" connection with the certifying issuer to verify validity and owner "chain of control" in real time.
The Wymsical Team won first prize at an Israeli Fintech Hackathon by using the WAULT Private Network to safely and easily verify credentials for a mortgage application. Cloud partner Microsoft AZURE has provided development support and security validation. With a patent-pending, de-centralized process for verifying that your unique credential and ownership are tamper-free, issuers may trust you to protect and control your information. Third parties may instantly verify your credential and that you are the rightful owner, unlocking new value by on-boarding customers more quickly and separating real data from fake. Join us on the WAULT Private Network.
We are a women-run company and a growing member community that values a future when trust is instant.