Hypersign Monthly Update: November Edition

Excitement is building as Hypersign prepares to launch Testnet v2.0, the final check before the Mainnet, marking a pivotal moment in the evolution of decentralized identity solutions. The anticipation is not unfounded; Hypersign has been gaining substantial traction, with both companies and government agencies recognizing the potential of our innovative blockchain network. The transformative features of the upcoming Testnet, such as advanced JSON-LD document signing, Credential Status structure overhaul, and robust validations for Credential Schema documents, have already captured the attention of forward-thinking entities. The growing interest signals a paradigm shift in the way digital identity and data security are perceived. Stay tuned for more updates as Hypersign continues to pave the way for a future where individuals have control over their data and access, supported by a robust and scalable decentralized identity network.

The month of November was dedicated to working on crucial updates for the upcoming Testnet v2.0. Please note that the following updates will be part of the next Testnet:

JSON-LD signing is now available for all SSI documents, including DID Documents, Credential Status, and Credential Schemas.

The Credential Status structure has been overhauled. This includes:

Validations were added for the properties field of the Credential Schema document to ensure that only a valid JSON string can be passed. PR #381.

Added JSON-LD Support for BJJSignature2021 Verification Method type. PR #372.

On Nov 4th, Vikram Bhushan, co-founder of Hypersign, spoke at BlockchainedIndia’s Blockchain Bytes event, addressing the community on the updates from Hypersign and how to build as a founder in this space.

Hypersign was honored to witness the Data Security Council of India (DSCI) and the National Center of Excellence recognizing our work in the data security and privacy space. In a recent LinkedIn post from the CEO of DSCI, Vinayak Godse, mentioned Hypersign in his post on digital identity technologies, and Hypersign has been invited to the “Privacy Engineering Summit 2023” hosted by the Digital Security Council of India on the 11th of December.

Data leaks of personal information in India, including major incidents like Paytm (2019), BigBasket (2020), and JustDial (2021) and the most recent leak of Personal Identifiable Information of 81.5 crore Indian citizens on the dark web, which the hackers were ready to sell for just $80,000 on 31st October 2023 highlight a systemic issue of mismanagement by companies storing customer data. The leaks occur after data flows from government entities like UIDAI to private companies. The proposed solution is "Selective Disclosure," a technology allowing controlled sharing of specific data points, reducing the risk of breaches. Hypersign's Cavach ID is a product implementing this approach, complying with the Digital Personal Data Protection Act, 2023. Cavach ID benefits businesses by identifying users through offline Aadhaar verification, protecting against data breaches using Zero Knowledge Proofs, and employing AI for liveliness checks. For identity holders, it provides control over shared data, recipients, data deletion requests, and options for limited-time data sharing. Read more.

The growing sporting events market faces challenges in ticketing, including rampant scalping, compromised security, and leaked data. The integration of Verifiable Credentials, recognized by W3C, emerges as a transformative solution. It consolidates verified identity and event tickets into a secure QR code, streamlining check-in processes and fortifying security against fraud. Decentralized Identifiers (DID) and cryptographic marvels like Zero-Knowledge Proofs enhance user privacy. Hypersign's solution, including Verifiable Credentials and Cavach for Aadhaar verification, addresses privacy concerns and complies with data protection laws. Recent demonstrations at events like MotoGP showcase the tangible benefits, promising a ticketing renaissance marked by fairness, security, and efficiency in the event industry. Hypersign, rooted in Self-Sovereign Identity (SSI), offers a scalable and secure identity management experience on the internet, recognized by W3C. Read more.

The recent data breach at Taj Hotels, affecting 1.5 million guests, underscores the urgency for robust data protection solutions in India's evolving privacy landscape. The breach involves a ransom demand of $5,000, emphasizing the affordability of accessing vast datasets on the dark web. The potential impacts on guests include financial losses, privacy concerns, and reputational damage for both guests and Taj Hotels. Advanced technologies such as Selective Disclosure and Encrypted Data Vaults (EDVs) are crucial to address this escalating issue. Selective Disclosure allows for precision data sharing, disclosing specific points while keeping the rest confidential. EDVs add an extra layer of security by storing sensitive information in encrypted formats, rendering it unreadable even during a breach. Hypersign offers a comprehensive suite of solutions, including Cavach for identity verification and advanced data protection technologies, helping organizations fortify their defenses against cyber threats and navigate the digital landscape securely. Read more.

Hypersign is an innovative, permissionless blockchain network that manages digital identity and access rights. Rooted in the principles of Self-Sovereign Identity (SSI), Hypersign empowers individuals to take control of their data and access on the internet. It provides a scalable, interoperable, and secure verifiable data registry (VDR) that enables various use cases based on SSI. Built using the Cosmos-SDK, the Hypersign Identity Network is recognized by W3C (World Wide Web Consortium), promoting a seamless and secure identity management experience on the Internet.

Get in touch with us today to understand the nuances of the decentralized identifier and their real-world application at meet.hypersign@gmail.com