Restoring trust is critical for the future of Web3.
In our quest for privacy, ubiquity and democratization, we’ve lost TRUST. We cannot trust many Web3 interactions because the circle of identity is broken - the singular focus on compliance has left us disconnected from actual security. Fraud is occuring inside KYCed accounts, using stolen and synthetic identities, relying on platforms that don't authenticate their actual identity when making trades, transferring funds or linking ownership to digital assets.
Think about how:
- Custodial and non-custodial crypto wallets are secured
- NFT chain of custody is managed
- Private keys are stored and managed
- Crypto trades get conducted
Almost always with weak authentication that attackers exploit. And that’s why we’ve designed our products with the end to end user journey in mind.
Consider the status quo. It is time to change and build a Web3 ecosystem based on trusted identities.
- The FTC says 46,000 people reported losing more than $1 billion worth of crypto in scams between January 2021 and March 2022
- Over 80% of the NFTs listed in OpenSea were plagiarized art, fraudulent collections, or spam
- Almost half of people who reported being scammed said it originated on social media — mostly Instagram and Facebook
- 20% of all bitcoin is either lost or unrecoverable
Implementing the Anonybit Genie for Web3
We enable consistent decentralized identity to be leveraged across the entire Web3 journey.
User creates digital wallet or NFT account following standard AML/KYC protocols.
User selfie gets ingested into the Anonybit decentralized cloud.
User accesses account using Anonybit biometric MFA.
User steps up to the Anonybit decentralized cloud for added protection.
The Anonybit Genie is the infrastructure element that ensures privacy and security for Web3.
Passwordless Biometric Authentication
- State of the art biometric algorithms with built-in liveness detection ensures people are who they claim to be
- Persistent use of decentalized biometrics prevents attackers from using stolen data to impersonate people or take over digital assets
- Single, modular platform supports a variety of use cases including synthetic identity checks, FIDO support, wallet recovery, DAO biometric signing and more
Decentralized Data Vault
- Patent-pending technique decentralizes the storage and processing of biometrics and personal data, reducing data protection risk and enhancing compliance with privacy regulations
- Backend support for all biometrics and digital assets such as backup passphrases, private keys, crypto assets and more
- Built-in to the Anonybit Genie for turnkey implementation into your digital asset application via APIs, SDKs and SAML integrations
The Anonybit Genie provides unparalleled benefits for Web3
Works across devices. Not susceptible to device takeover, unlike traditional solutions that fall back to PINs, and KBA.
No central honeypots for maximum data protection. Nothing for hackers to find and nothing for hackers to steal.
Multiple Use Cases
Supports all modalities and third party-algorithms for different identity management needs across the enterprise.
Closed Circle of Identity
Connects onboarding to access and account recovery to close the gaps exploited by attackers in the authentication process.
Resources on Enabling Privacy and Security
We work with our partners to enable privacy-by-design solutions.
- Leverage our decentralized biometrics cloud to create a privacy-by-design solution that helps your clients comply with the latest data protection regulations.
- Integrate our turnkey passwordless authentication platform to enable the circle of identity and close the gaps across all customer service channels that attackers exploit.
- Eliminate central honeypots and the tradeoffs that are typically made between privacy, security, user experience and cost with an off-the-shelf solution that addresses privacy and data protection head on.
It’s time to secure your Banking and Fintech applications with Anonybit.
- Offer secure account access and recovery and ensure people are who they claim to be
- Avoid central honeypots of personal data while maintaining full regulatory compliance
- Eliminate cost and friction around password and account resets