Cryptocurrency

Digital identities, helix id and the solution of the Vetrauens-crisis in the Internet

Oliver Naegele is the CEO & Founder of block chain helix. Block chain helix sees itself as the “home of the digital identity”. In the context of a Video-interview, we were able to talk with Oliver about the product helix id and digital identities. What is the idea of the helix id followed? How did the idea for the company and what are the current goals? And what are the solutions offered by helix id for end customers and users? We wish you now much fun with our Interview.Those who prefer to see the Video you can take a look at our YouTube channel:The summary of the first part of the interview can be found in the following article. The second part will appear this Friday, at 13.09, at 11:

Introduction to helix id and the Use Case of the self-sovereign digital identities

Mirco: Hello Oliver. Nice that you found time for our Interview. A topic that comes up again and again is the topic of digital identities. An area in the Blockchain Helix knows best and with your product helix id moved. Can you explain us briefly how it came to the creation of Blockchain Helix and helix id?Oliver: Yes, Hello Mirco. Also from my side, nice that it worked out. Exactly, we are for 2015 in the area of digital identities actively. A year later, in 2016, was Blockchain Helix was founded. The Inspiration behind it comes (as so often) from the own experience. I was for a long time as a Software developer in the area of Community and platform Management. In 2016, we then developed a concept for a modern and digital city portal. Here is the question of how people (and their data) can be integrated into digital processes came quickly. At that time, however, there were no reasonable solutions, and a lot less “tools” to the implementation than it is today.Than I have I had found in 2015, some of the scientific Work of Vitalik Buterin, founder of Ethereum, las, the impression of the missing piece of the Puzzle: Smart Contracts, which are made possible by P2P networks, in conjunction with encryption. We developed a first version, but noticed just as quickly that we are early. So, the demand was extremely high, the trust in the Blockchain technology, however, is still low. And so we have prioritized the issue of Community Management as extremely important and started to organize Meetups in Frankfurt. In addition, we have contributed to the establishment of the Federal Association of the Blockchain. We want to create, especially consciousness. For us to be United in a Conviction:

Identities (and identity management) on the Blockchain are the real Gamechanger.

With helix id, we now have the first Version, which is already close to a “market-ready” product. It is an identity network, consisting of an App and the associated infrastructure (data centers, Cloud Services, Middleware).The Use Case I would like to summarize with two sentences: Our identity solution allows users of your data self-confidently to enter and confirm. With the help of the Blockchain infrastructure, the data are represented in a tamper-proof, so that is always detectable, to whom the data belong and whether they are genuine.Mirco: Thank you Oliver for the introduction. You can again summarised in one sentence, why do we need for the topic of digital identity in a block Chain? Why don’t we use a different solution, and what the advantages are?Oliver: Here, there are several aspects that we must consider. On the one hand, we are currently experiencing a strong crisis of confidence in and also in the Internet. We take as an example the Facebook scandals. Periodically, we hear of new data breaches – data, for example, be read without the consent of the end user. On the other hand, we need to understand that the Internet in the last few years has changed. It is a economy is now a room and not just an information layer. Our Mission, therefore, is the Following:

We need to restore confidence in the Internet. And it is precisely here that the Blockchain attacks.

With a Blockchain, we put our trust not in man, but in an algorithm that ensures that people in a trusted environment can exchange data. But of course we are here in front of technical challenges. So there is the difficulty of the scalability and on the other, many different protocols and, consequently, poor interoperability, which presents problems. The history of the Internet, however, shows that such problems, in particular scalability, can be solved over time. And also in terms of the level of trust in the Blockchain, you can see large steps forward. In the last two years, many companies have employed more or less intensively with the Blockchain. And also the Feedback we get from the company, shows me that

we are now almost in the Mainstream.

We take the example of Daimler. We have developed in cooperation with Daimler and other partners, a mobility platform. The advantages are obvious. With Smart Contracts and business processes in a transparent and forgery can be safely created; cooperation with service providers is facilitated and the end result is new Business Opportunities are created and existing processes more efficient.Mirco: Very exciting. Let us be a little more precise: How can I use it as a end-user or consumer of your solutions of the Blockchain Helix or helix id? Clearly, you didn’t say that you are 100% done, but how it will look in the future?Oliver: Yes, thank you for this question Mirco. “Not quite ready” you must have something in Relation. Considering the progress made by the companies that work in a similar field, so you can see quickly that no product is “really done”.With helix id, we pursue a pragmatic approach that works both at the corporate as well as at the consumer level. In doing so, our solution must satisfy all regulatory requirements.An example to illustrate: the Metallica Band has an important concert, the tour bus is suddenly on strike. Now, James Hetfield and his colleagues have to rent another Bus to come in time in the stadium. The Onboarding with a traditional car leihdiensten but it takes to long, so the immediate verification of the car rental is by helix id, the solution for the Band. Because the data are already stored and verified. In addition, you can create with helix id, digital signatures, whereby the Rent of the bus, automatically can be settled, which simplifies the whole process significantly and accelerates.On the business side of the Use-Case is of course different: Some companies, for example, as a Merchant and use the helix id as a verification mechanism to the On-Boarding of customers to perform faster. Of course, we meet all the criteria of the data protection regulation.Mirco: Thanks Oliver, that sounds really very useful. Personally, I have to think of something like “Sign in with Google or Facebook”, but with the difference that it has integrated the KYC process. So you could register, for example, directly at a Bank. And of course my data is not on Google’s servers, but a Blockchain. Is that right?Oliver: Basically, Yes. However, for financial institutions. currently, some regulations and other requirements, the not be fulfilled, so that a Bank’s registration with the helix id is at the current point in time can be carried out anywhere We are, however, different service providers have already been in contact, to be able to in the medium term, such use cases to implement.What are your thoughts on digital identity? How can you solve, in your opinion, the crisis of confidence in the Internet? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.