Onchain users management made easy

The primary advantage of leveraging blockchain technologies lies in utilizing an open and secure shared IT infrastructure, a global network that is readily available. However, to fully capitalize on this shared infrastructure, it is crucial to properly identify the diverse users in order to establish roles and permissions, and to enforce compliance rules. While users sign blockchain transactions using their wallets, it's important to note that a wallet itself does not constitute an identity and cannot facilitate identity verifications and proofs.

While users sign blockchain transactions using their wallets, it's important to note that a wallet itself does not constitute an identity and cannot facilitate identity verifications and proofs. An onchain identity, in contrast, is a collection of attributes that can be managed by the identity owner, and verified by authorized third parties. This distinction underscores the need for a more comprehensive identity management solution that goes beyond the capabilities of a standard blockchain wallet.

The Identities APIs are designed to address this critical need, empowering financial institutions to harness the power of decentralized identity solutions. By leveraging self-sovereign identity principles, the APIs enable users to have full control over their digital identities, enhancing privacy, security, and interoperability.

Concretely, the Identities APIs facilitate the creation, management, and verification of decentralized identities on the blockchain. It allows institutions to assign and manage roles and permissions seamlessly, ensuring that only authorized users can access specific services or perform certain actions. This not only streamlines operations but also guarantee the ownership of digital assets, and fortifies the security infrastructure, mitigating the risks of unauthorized access and fraudulent activities.

Moreover, the Identities APIs are built with flexibility and scalability in mind. It supports a wide range of use cases, from customer onboarding and Know Your Customer (KYC) procedures to complex permission management systems. By integrating our APIs, financial institutions can enhance their blockchain capabilities, improve user experiences, and stay at the forefront of technological innovation in the finance sector.

APIs overview

The Identities API lets you control the flow and data of identities of the following entities:

• Investors (token holders or in progress of being qualified)
• Smart contract Owners
• Token Agents

For those entities, you are able to manage:

• The ONCHAINID - the smart contract linked to the identity data of the entities defined above
• The identity data - both offchain and onchain
• The wallet(s) used to signed transactions
• The portfolio of the investor across the different token issuers, platforms, and blockchains
• The permissions assigned to Agents