Zidentity (ZID) offers Blockchain-based Identifiers (BID), Verifiable Credentials (VC) and on-chain agreement signing services to the international market, which facilitates cross-border transactions with China.
This is particularly beneficial for countries in The Regional Comprehensive Economic Partnership (RCEP), which can utilise Zetrix as a gateway to China’s Xinghuo BIF network to maximise the potential of the free trade agreement by leveraging on blockchain technology.
As a decentralised identity platform, ZID recognises the standardisation of the Self-Sovereign Identity (SSI) certificate issued by Zetrix Trust Authentication.
As SSI uses cryptography, it allows users to control their identity using VC to interact directly with other identities or users without sharing their data or information with other providers or sources.
Thus, ZID provides a secure, private, credible and autonomously controlled transaction environment.
Zetrix, the international extension for Xinghuo BIF is an immutable public chain that enables the development of decentralised applications for commercial and cross-border usage.
Certification Authorities will use ZID blockchain-based Identity Management, powered by Zetrix for multiple applications: signing of agreements, International Organization for Standardization (ISO) certification and product authentication certification.
Spark is the blockchain e-signing service platform built on Xinghuo Blockchain and is used by industry leaders in China. The platform has established its own sets of standards to maintain efficient and seamless e-signing between parties. ZID shall co-exists with its counterpart Spark to provide a bridge for international companies to interact with their respective China trading partners.
In the network platform, there are three primary roles involved with the exchange of verifiable credentials to ensure a secure and seamless transaction