The Melbourne-based firm, ShareRing, has been selected as the initial digital identity provider to commence testing for the Australian government’s US$4 million verification technology trials. These trials, approved late last year, aim to enforce restrictions on underage access to social media platforms.
ShareRing, a blockchain company, will initiate a pilot program involving school students in Darwin. The company’s technology focuses on a self-sovereign identity platform. This innovative platform enables users to provide secure age verification while still maintaining control over their personal information.
The commencement of these pivotal trials is scheduled for next week. This comes as Australia is gearing up to introduce a new law by December, which will prohibit children under 16 years of age from creating social media accounts. Non-compliant platforms could face hefty penalties, with fines reaching up to US$30.7 million.
ShareRing’s application of reusable digital IDs could be a viable solution to the privacy concerns raised by Australians. There has been considerable apprehension about the risks of identity theft from government databases since the legislation was approved for trial last year.
ShareRing’s founder and chief technology officer, Tim Bos, explained the unique approach of the technology to Decrypt. He stated that the tech “eliminates the need for repetitive verification while maintaining instant trustless verification and a privacy-first approach.”
Unlike traditional centralized identity systems, ShareRing’s blockchain-based technology aims to eliminate potential single points of failure or data breach risks associated with one entity, such as the government, having control of the data.
ShareRing’s technology allows users to verify their age without the need to upload personal documents. Instead, users share cryptographic proof, thus keeping their data under their control and reducing exposure to potential breaches from malicious hackers.
Developed on the Cosmos SDK, ShareRing’s technology provides a means to create custom blockchains. These are particularly useful for verifying users and screening out age-inappropriate content on social media platforms without necessarily exposing their personal data.
Through the use of Tendermint, a proof-of-stake consensus mechanism, ShareRing can process registrations efficiently and allow connectivity to other blockchains.
ShareRing has claimed to have secured endorsement under the UK’s Digital Identities and Attributes Trust Framework. Additionally, it has joined Select ID, the UK’s premier Reusable Digital ID Network for financial services.
The Age Check Certification Scheme (ACCS), an independent assessment consortium, is leading the trials in Australia. ACCS will evaluate the age verification technologies ahead of the social media restrictions coming into full effect later this year.
Edited by Sebastian Sinclair.
