Company recognized for decentralized identity and identity wallet capabilities
EAST BRUNSWICK, N.J.--(BUSINESS WIRE)--#Blockchain--1Kosmos, the company that unifies identity proofing and passwordless authentication, today announced it has been recognized as a “Sample Vendor” in five separate 2024 Gartner Hype Cycle reports for Digital Identity [1], Web3 and Blockchain [2], Privacy [3], Human Services in Government [4] and Financial Crime [5].
According to Gartner, “An identity wallet provides an individual with greater control over their identity data and has the potential to enable higher trust for verification of identity claims. For service providers, identity wallets can enable new service models that require consented sharing of identity data. Use cases can involve commercial and government entities for issuers and verifiers of credentials and attributes. Governments are actively adopting standards and regulations around identity wallets.” [1]
1Kosmos is a privacy by design, decentralized digital identity platform with live verified biometrics that helps organizations continuously establish with certainty the identity of individuals who are accessing their systems, applications and data, using a digital wallet that supports secure passwordless access to online services.
Gartner also states, “Identity fragmentation is a problem due to SPs (such as banks, retailers and governments) forcing users to create individual identities for every service. Decentralized Identity (DCI) offers an attractive approach with increased security, privacy and usability compared to traditional approaches like federated identity. Legislative efforts to secure privacy and ensure interoperability are multiplying around the world; standards continue to be refined, and DCI use cases continue to emerge.”[2]
1Kosmos provides the full suite of capabilities required for reusable identity including identity verification, onboarding, credential issuance, credential storage, and authentication. The identity wallets created by the 1Kosmos platform eliminate the need for users to repeatedly verify their identity across multiple service providers, reduce onboarding friction and deliver a superior user experience.
“The 1Kosmos platform enables organizations to create irrefutable, verified and reusable decentralized digital identities and user-managed identity wallets for both employees and customers that provide continuous identity verification with passwordless authentication,” said Hemen Vimadalal, CEO of 1Kosmos. “We believe these reports demonstrate that interest in identity wallets and decentralized identity capabilities provided by 1Kosmos is being driven by the need for customers to capitalize on new digital business opportunities and preserve client privacy.”
[1] Gartner, Hype Cycle for Digital Identity, 2024, authored by Nathan Harris and Ant Allan, published 24 July 2024.
[2] Gartner, Hype Cycle for Web3 and Blockchain, 2024, authored by Adrian Leow, published 29 July 2024.
[3] Gartner, Hype Cycle for Privacy, 2024, authored by Bernard Woo and Stefan Dumitrescu, published 29 July 2024.
[4] Gartner, Hype Cycle for Human Services in Government, 2024, authored by Ben Kaner and Roland Rivera, published 31 July 2024
[5] Gartner, Hype Cycle for Financial Crime, 2024, authored by Vatsal Sharma and Pete Redshaw, published 31 July 2024
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About the 1Kosmos platform
The 1Kosmos platform verifies user identity for straight-through onboarding of customers, workers and citizens. It creates a reusable identity wallet for high assurance authentication into digital services and instant validation of end-user qualifications, competencies, authority, and more. A unique privacy-by-design architecture centered around a private and permissioned blockchain eliminates centralized honeypots of end user personal identifiable information (PII), simplifying compliance to privacy mandates such as GDPR and providing organizations tamper evident verification to always know the identity behind devices accessing applications, data and services. 1Kosmos has attained certification to NIST 800-63-3 and UK DIATF via Kantara, FIDO2, and both DEA EPCS and ISO/IEC 30107-3 Presentation Attack Detection via iBeta. It is easily embedded into mobile apps via an SDK, delivered as a cloud service, and also available as a Credential Service Provider managed service.
About 1Kosmos
1Kosmos enables remote identity verification and passwordless multi-factor authentication for workers, customers and residents to securely transact with digital services. By unifying identity proofing, credential verification and strong authentication, the 1Kosmos platform prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences and preserving the privacy of users’ personal information. 1Kosmos performs millions of authentications daily for government agencies and some of the largest banks, telecommunications, higher education and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in East Brunswick, New Jersey. For more information, visit www.1kosmos.com and follow us on X and LinkedIn.
Contacts
Media:
Marc Gendron
Marc Gendron PR for 1Kosmos
marc@mgpr.net
617-877-7480