So, yeah, like Annie mentioned, I'm here to talk about how we can help create value beyond verified access. You know, we were a company that's very much around looking at three kind of key ways around doing that.
You know, we'll talk a little bit about how that kind of sort of supersedes blockchain in sort of two ways, but the three core elements that we think are essential for pure self-sovereign identity is, is obviously you need the core element of identity and debt verification and giving the enterprise or the organization and opportunity to mix and match different mechanisms for identifying each users.
Obviously we look at the sovereign identity ownership element as, as being, while we're all probably here right now, which is allowing the, the user citizens to actually have control and own their own identity, credentials, attestations, and all their other personal I information about themselves and, and being able to control that on their terms.
But we also think that the third element is around secure identity compliance. Now I've combined that for purpose here, because we think that technology and compliance is one and the same.
And when we talk a little bit later about some of the technology that we've, we've created, we'll, we'll show you how that interlinked completely from from day one. So we talk about identity value generation, right? Okay. There's really two key areas, right? It's around cost efficiencies. How am I gonna save the enterprise and money, but also how can I increase the, the net present value of my customers? I wanna make more money from an enterprise and self-sovereign identity.
You know, the way we look at it is it can be used to do both. You know, obviously right now they're sitting on maybe some costly, repetitive verification, a stoic stakeholders. If we give them some realtime, I verification, then you can, then you can start seeing some efficiencies there.
If you avoid some of the dangerous, poor system, security data, hack, SOS, properly, decentralizing your data, using the correct technology, then you can, then you can save obviously data management costs, but also risk of, of, of hacks and, and, and exposure of your data exposure to, to unwanted individuals.
And then interesting on the third is we think there's also that compliance element, which is around having compliance team, the data protection office within an organization, completely integrated with the identity management solution from day one. And we'll talk a little bit about how, how, how that can be done in a second. Once you move from that sort of efficiency side of things, then you can increase your net, present value your customers. That's about, okay. If we give our identity ownerships to our customers, how can we, how can we use their data?
How can we increase the upsell and cross sell opportunities by having the most realtime information, and also looking at ways around giving some social privacy features that, okay, we could be looking at a few more years before we see that identity ecosystem happen in, in the world, but if I'm an enterprise and I can give them the right features and functionality for around sharing their private information, including their identity, then there might be a stronger opportunity to have a, have a higher affinity after making that initial end to connection.
And then finally, we talk about intelligent agents and that's using some, some, some simple, but very effective AI to, to progress, to create an autonomous sort of value creating opportunity, but using, using things like personas and also using as a way to protect against bot bots and, and, and viruses. So let's have a quick look through each of these ones right now. We talk about identity verification. I think the key word here is realtime.
So the enterprise would obviously like to know who they, who their stakeholders are in real time, because you keep having to keep it going at KYC or doing repetitive verification of, of, of your stakeholders. It becomes costly inefficient, operationally op operationally, a pain actually for them. So we think of it's real time, but also offering different mechanisms and methods for them to do that.
Whether that's some of the new, innovative ways around conferred trust scoring, which is a sort of private net, a private or public network scoring of attestations of people within your network or your community who can attest that you are who you are, as well as using P2P out of bound authentication, biometric for that proper verification, as well as some of the more traditional DDS or ID proofy and corroboration, and even the credit header.
It's about giving that mix and match opportunity for, for enterprise to choose which appropriate method they want to use to verify who that person is.
So, for example, if it's a mortgage, you'll probably want to use several of those methods. I mentioned if not all of them, because it's a very high, high value transaction. Whereas if it's, for example, an email subscription update, perhaps a zero proof from someone who is who's over 18 might be sufficient in that time, but it's not done on our project by project basis.
And, and that's essentially what we, the enterprise kind of wants it to be saved some money. So if you look at sort of decentralized data security, we think that the key thing here is around number one, making it really simple, but also being in such a way that you can distribute the data in a way that it's not sort of held within a database world block or one particular area where it might possibly be open for, for hack or for, for, for corruption internally.
It's our, in our sense, we believe our, our vault chain platform, for example, we built is around having sort of a distributed graph.
It's essentially little data islands, which has individual fields of data encrypted and sitting within these vaults spread across millions, millions of vaults. Now, what we think this does is it avoids a lot of compliance. Some of the scalability cost environment issues that, that some other systems maybe you would centralize or federated and, and perhaps some of the early blockchain systems were suffering from.
But our view is rather than having sort of one database with a million customer records, it's about having sort of a million different vaults for a million different bases of, of, of information. And we think that that's essentially the, the way that the way that data needs truly be decentralized, that being said, interoperability is quite critical.
So that, for example, if you get in attestation or D I D, or type some type of some, some type of verification that needs to be transferred between systems, then you need a solution enables that.
And that that's exactly what the B allow to do as well.
So again, it's, it's great to be. It's great to have all these features and functionality, but the reality is is that if you could reduce the risk that you're going to get a data breach, well, these are some of the data breaches that we've seen in the last few months.
You know, won't run through all these right now, but you know, these are, these are sort of the five or six big ones that have happened sort of in sort of eight weeks. Certainly if you have the type of the right type of, of, of authentication the encryption distributed dials, obviously not silos to, to avoid each one of these breaches in, in, in this case can, can be, could have been avoided. So when we think about another way of sort of saving, saving cost and, and efficiencies, we think about identity compliance.
And in, in the case, our, our view around that is not only that the data protection officer sits alongside identity, but actually they themselves use the product. So they actually use both the enterprise and the mobile application to be able to have a one-to-one relationship with other customers or other stakeholders, relevant ones that they need to have a compliant data sharing. What we have is we have a situation where each individual member of the data protection office can actually create rules and rights. They can allocate rights, they have connections with each employees.
They can share artifacts on a field level, and you have a full audit and activity history to understand exactly what, what, what, who, what data's been shared with, with, with, with what individual on a field level it's quite critical for that there's some efficiencies to be able to allow the data protection office to come in and use the product itself, we think is very, very powerful.
So when we think about moving past efficiencies, and we think about creating new value, we think about giving identity back to ownership to customers.
And, and, and with that, it essentially, we believe it should be a very rich experience, not just kind of a data wallet that holds a couple ATEST station that you might get from the third party. So improving a corroboration.
We, we think that if you come in with a, a product that allows customers to, for example, share all of their information, to be able to use their hub, to, to share and, and revoke information on their terms that have been agreed, obviously with the, with the end user, sorry, and the enterprise, but also create a number of different personas that they could then engage, not only with the company, but also creating relationships with some of the, of the other family members and perhaps some other companies and using rules also while providing a sort of privacy and anonymous entry so that no personal information is, is used or, or shared in the whole process, this sort of rich type of, of, of a hub, as you could say, it it's is, is, is really effective.
We believe because people are so familiar with using effectively services that, that are maybe more social around sharing in real time. That if you can, if you can nail that and you can get that identity ownership, giving them not only the, the, the temptations, but all the identity and all the other information that it can share on their terms. We think an enterprise is an opportunity to, to sort of move, move to a level of trust, but also move to a level of having better and more updated information about that customer.
So, for example, if the customer changes its address with one particular artifact that they shared with one particular persona that sharing that, that, that update actually gets picked up across to all of their contacts, including that enterprise. So there's some opportunities around cross sell and up sell of having that most up to date information about each one of its customers by using a product like this.
And then if we talk a little bit, we wanna move one step further. And we think about the whole concept of solar privacy.
Well, okay. So enterprise can offer customers a rich identity sharing, you know, that control of their personal information, social privacy features. We think they can get them beyond that initially to see ID engagement. So for example, if I, as a, a citizen or a customer wanted to share my and my identity and some other personal information with an enterprise, that's great. That's done typically what happens in a digital wallet?
It's, it's there. I see it on my phone six months later, I'm not using it again. If I delete it.
However, we we're, we're noticing through some research we've been doing that. Some of the very privacy conscious and, and typically higher net worth customers and individuals are a bit more interested in the privacy.
They're interested in having management of their, their, the data effectively. They want to keep, as well as another segment of customers who are effect, we refer to as the social privacy advocate. These are the individuals who will use the services. Things like personas, the artifacts, hub, private connections activity stream.
And, and of course enjoy the, the anonymous registration, because they want to have a private data sharing relationship with, with some, with some of their maybe family members of other people they have. Now, this is not the hundred percent of the customer base of, of say at telco, this could be in sort of the single or, you know, most double percentages. But what we're seeing is there is an opportunity to make a difference.
And I think if you look at any enterprise today, they're always seeking different ways to, to build and retain a relationship with customers, retain their valuable customers.
And so until the identity share individual comes along with his identity that he can tap like he does with a bank, like a bank card. These are the two segments that are particular interest we're seeing from, from research that we've been doing. And then finally, what we have is we have sort of AI, intelligent agents.
Now we think that this is, if you do this correctly, you do it simply, you, you've got an opportunity to take advantage of technology that allows agents to go out and find you the value that you want whilst being able to protect you against, against hackers and bots and, and, and other sort of, you know, unscrupulous individuals that might coming after your data. Now, intelligent agents essentially are, are catch to personas and they go out as a sell autonomously to, to act on your behalf.
And they can do that within the network and private network or a social network if, if that's chosen to be the case.
So, so in summary, you know, as I said, it comes back to our original point is, is we think a truly compliant self-service solution let's enterprise focus again on the value that NC identity brings beyond verified access.
You know, that this, this, as I mentioned, the authenticated authorized onboarding for trust scoring attestation zero proofs biometrics, give, give the enterprise an opportunity to choose on a project level, what they really want to use, which is best suited for that particular project.
And obviously with the, the social identity, the sovereign identity ownership, that's really around, you know, engaging with customers and trying to figure out ways of, of, of having that stronger relationship with, with customers, as opposed to saying, Hey, you know, they own their identity, or they own their data. Let's, let's, let's take, let's take that to the next step further by giving them rich social privacy services and, and new technology like intelligent agents.
And then of course, when we talk about the secure identity compliance, it, it it's about avoiding some of the issues that, that, that, that I think that some of the other systems and some of the other technologies are having today around, around sort of tech, tech, technical compliance, trying to meet those, meet those sort of guidelines and, and trying to do maybe pre out some workarounds while they're trying to decentralize the data. So that's, that's the summary. Thank you very much for, for, for hearing about some of the ways that you can create value.
Happy to take some questions right now,
