Security News > 2020 > April > Fraud prevention startup working on anonymous peer-to-peer verification network
Identiq uses cryptographic algorithms and preserves customer privacy while enabling companies to to identify new customers through a network of trust.
An ID validation and fraud prevention startup has developed what it claims is the first and only truly anonymous peer-to-peer verification network that enables companies to work together to validate identities without sharing or exposing any personal customer data.
Identiq uses cryptographic algorithms to anonymously compare new user data against identities already trusted by other network members while preserving customer privacy, the company said.
"Member B2C companies"can validate their users by working together as a network to ask questions about people and data points they don't know'' and vouch for them as trustworthy users, explained Identiq Chief Marketing Officer Shmuli Goldberg.
"We are posing the exact opposite [model] and we believe, and our tech has shown, we can create a better user experience trying to validate user identities without sharing any data whatsoever," he said.