Payment and identity security and transactions are at the core of the consulting work done by Consult Hyperion. During any sort of transaction, users need to be able to pay for services, and companies or government agencies who are providing those services need to be able to verify who is completing the transaction.
Identity, in particular, becomes a big issue because most people’s digital identities and accounts are safeguarded by passwords only. This can become a weak link if multiple accounts use the same password, causing problems and friction for all parties involved.
Individuals may not want their governments to be the keeper of their digital identities, for reasons ranging from privacy concerns to fears that governments may abruptly change.
A solution that Consult Hyperion is currently working on in conjunction with the Canadian banking system allows for online identity authentication through distributed ledger technology.
Once authenticated, these identities can be encrypted and transmitted through an intermediary to the Canadian government, allowing citizens to access various government services without compromising the security of their identities and related data.
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