As part of Wipro Limited, Wipro Lab45 has announced the launch of its Decentralized Identity and Credential Exchange (DICE ID), allowing users control of their personal data and enabling faster, easier, and secure sharing of private information online.
Powered by blockchain technology, DICE ID enables issuance and verification of tamper-proof, self-verifiable digital credentials. DICE ID stores verified personal information from certified issuers in an identity wallet owned by the user.
This digital wallet allows users to share identity or credentials for a wide range of purposes, including current or potential employers, healthcare providers, financial services providers, or educational institutions. DICE ID allows users to control their personal data, enabling them to decide how much and what type of information they want to reveal in digital settings.
DICE ID leverages W3C (World Wide Web Consortium), a verifiable credential open data model, making credentials machine-readable and interoperable and allowing for a secure exchange between ecosystem users. Having been piloted last September, DICE ID’s applications can be used among ed-tech organizations, fintech and financial institutions, health-tech startups, government-affiliated institutions, and metaverse platforms.
Subha Tatavarti, chief technology officer at Wipro, said: “DICE ID leverages the core tenets of blockchain technology to transform the way consumers manage their online identities.
“Current online identification relies on the use of single sign-on services, requiring users to share personal data with multiple third-parties. DICE ID gives the power back to the individual, making it easier and safer than ever to manage sharing of personal data on digital platforms. We believe decentralized identity and verifiable credentials technology will become a game-changer resulting in a metamorphosis of the identity space. And we are thrilled to be at the forefront of this innovative technology.”
