Zetrix Launches Chinese Digital ID Identity Verification Service on ZCert
First-of-its-Kind Solution Enables Overseas Entities to Authenticate and Verify Chinese IDs
PETALING JAYA, Malaysia, Oct. 3, 2024 /PRNewswire/ -- Zetrix, a layer-1 public blockchain platform, today launched a first-of-its-kind application that enables official identities of Chinese nationals ("Chinese Digital IDs") to be authenticated and verified digitally overseas, paving the way for a seamless, efficient, and secure verification process for verifiers and identity holders.
Through the ZCert service, Zetrix now simplifies and facilitates electronic Know Your Customer ("eKYC") processes for entities outside of China wishing to verify the authenticity of information contained in the Digital IDs presented to them by Chinese nationals.
This pioneering service has been made possible through Zetrix's unique integration to China's national public blockchain Xinghuo BIF.
Chinese nationals can choose to publish their Digital IDs on Xinghuo BIF and upon doing so, the data can then be accessed by verifying entities outside of China through the ZCert service on Zetrix, which operates the Xinghuo International Supernode, known as Astron.
"We are truly excited about the introduction of this cross-border Digital ID service as it enables a new wave of services powered by smart contracts. KYC processes can now be a simplified and automated process. Furthermore, user data is retained by users at all times and only critical information is shared in an encrypted manner," said TS Wong, co-founder of Zetrix.
"Payments on Web 3 platforms can now be executed fully in compliance with existing rules. Our Chinese Digital ID application combined with Malaysia's National ID and WorldID and future sovereign IDs, makes ZCert the most comprehensive global Digital ID solution," he added.
"Creating cross-border trust is of great importance, especially the verification of digital identity, credentials and documents. We would like to create a trusted data channel, together with MYEG, to facilitate the international cooperation between China and Malaysia and the rest of the world in the digital age," said Xiaoyu You, Head of International Cooperation Department of the Institute of Industrial Internet & IoT, China Academy of Information and Communications Technology ("CAICT"), which is responsible for the development, execution and implementation of Xinghuo BIF.
Leveraging on the unparalleled advantages of blockchain technology, the new ZCert service provides a more advanced, convenient, reliable and secure method of verifying identity information in real-time, thus bringing a more pleasant overall experience to identity holders and verifying entities alike when compared with conventional credential verification methods.
The immutability of blockchain means verifiers will be able to confirm that National IDs issued and accessed through the Xinghuo-Zetrix collaboration are authentic, genuine and have not been altered. This may not be the case for conventional ID cards, whether in their physical or digital image forms, as these may be subject to tampering, fraud, or forgery using image editing tools, and verifiers have no immediate, trustworthy method to assess their authenticity.
Furthermore, the new National ID verification service on ZCert takes full advantage of the Self-Sovereign Identity framework within Web3 technology, enabling identity holders to selectively disclose relevant information such as name or home address without having to share other non-relevant personal data, hence ensuring improved privacy protection. In contrast, the use of conventional ID cards in their static physical or digital image forms does not provide similar safeguards as all information are static and already openly displayed.
In addition, a significant advantage of opting for the use of verifiable digital IDs is that since they are dynamic in nature, user data can be updated by authorised issuers to reflect the most current personal information of the holder, ensuring precision and accuracy.
The launch of the Chinese Digital IDs verification facility is the latest innovation on ZCert and comes just months after it introduced a service for Chinese driving licences to be digitised and accessed overseas for verification purposes.
It is expected that the ZCert cross-border credentials verification service will be progressively expanded in the coming months to include other documents of critical importance to individuals and businesses.
More information on ZCert is available at https://www.zetrix.com/zcert/
About Zetrix
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix's cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
SOURCE Zetrix
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