Together with strong partners in the background, KIWI recently intensified its engagement in Web 3 technologies. Activities will include applications and usecases based on distributed ledger technology like NFTs and crypto currencies but the main focus at this stage are developments around decentralized digital identity.
KYC processes are a real pain in the ass, onboarding hurdles are the reason for billions of lost revenue in e-commerce, FAANG are collecting all the gains from providing federated identities and many people in developing countries don’t even have any certified and acknowledged identity leaving them also unbanked – the demand for better solutions for creating and proving identity in today’s digital world is clearly there and for a whole multitude of reasons.
Fortunately, now the technological developments in various fields like blockchains, AI and biometrics put together enable the building blocks for this better solution: a decentralized, customer owned and controlled identity, interoperable and portable, presented via verified credentials.
As one of the best options on the way to mass deployment KIWI has identified b2c companies with a big and pre-qualified customer base, providing them also an additional revenue stream. Exactly in this domain we are now consulting one of the biggest Telecommunication providers in APAC in order to co-create the roadmap from PoC to roll-out. While the details have to stay confidential for the time being, an official announcement is expected to be made in Q3.
