Protectoria Venture
A Decentralized Approach to Digital Identity

A paradigm shift for the internet, the Web3.0 revolution is underway. Rather than consumers accessing the services mediated by companies like Google, Apple or Facebook through identities generated and managed by these companies, individuals will access all sorts of services with any vendors through a secure and generic identity that they control themselves.

The vision of World Wide Web Consortium (W3C) is rewriting the rules of digital identity – with a secured and independent digital identity – citizens will be able to interact directly without the involvement of a central entity, the state or Google. Its approach to identity offers an excellent opportunity to democratize the online experience, enable users to reclaim control of their data, and open the door to self-sovereign identities on the world wide web.

But this future development of digital ecosystems depends on reliable digital identity infrastructure. That’s where Norwegian technology and business service company, Protectoria Venture, comes in. Protectoria’s vision is “to empower people to become sovereign citizens” and its ambition is to contribute significantly to this global development with a more secure and fair digital society.

Protectoria’s My Identity Services Platform Makes It Possible

The technology platform is based on a decentralized digital architecture that allows the fulfilment of the self-sovereign identity (SSI) principles.

It is composed of several elements. The orchestrated backend service stack is carefully developed with many layers that manage the flow of information, storage of data, encryption, and access keys providing the decentralized architecture. It also uses open standards and open APIs for easy integration with best-of-breed vendors and to keep up with changing SSI standards.

Its mobile frontend, My-ID app, is the digital wallet, that also comes with a patented Secure Display mechanism that allow for offering potentially a level of assurance “high” as per the European Union (EU) legal framework, opening up markets for digital identity that requires very secure end-to-end communication, like Health ID and National ID infrastructure.

There are many evident benefits of this digital ecosystem. It is a scalable, secure, and interoperable digital identity service that is easy to use, with added credibility due to the SSI governance principles and the decentralized architecture. On top of that, its low cost and efficiency allow for greater financial inclusion among a larger population.

At an Opportune Time

Protectoria’s offered digital identity services are a timely entry into the market following the EU’s decision to have a digital identity for all its citizens aligned with SSI standards and with requirements for different levels of assurance of the security levels. Once the new electronic regulation on electronic Identification and Trust Services (eIDAS) regulatory framework is revised to facilitate this, the regulation will serve as an example for the rest of the world, on redefining fundamental principles of governance to create an efficient and scalable digital ecosystem.

“We are well positioned, with a first-mover advantage with a contract for operating one of the first large scale SSI infrastructure. We anticipated the EU development and will be operational with our technology platform in 2024. We have also decided on a technology roadmap to seize market segments in Europe in the next years, by targeting generic and customized digital identity services – for both corporations and public entities in Europe.” says Trond Lemberg, Founder and CEO of Protectoria Venture.

Protectoria's ambition is to create and lead this global development towards a more secure and fair digital society

A Wheel of Trust

The company strongly believes trust is the component that is lacking in the digital space, and the SSI feature provided in their platform builds this trust. Protectoria’s platform also complies with international W3C standards. Cryptographic methods create secure direct communication between any participant in the digital eco-system allowing transactions. The user control of own data and the security feature by design incentivizes the citizen to expand the use of the ID to multiple transactions and services. The trust element and the mobile wallet make the digital identity truly mobile and interoperable.

Rising Market Acceptance and Popularity

The company has signed a first contract long-term-year contract, with Quezon City, the most populous city in the Philippines to operate their decentralized digital identity infrastructure as a service with efficient and secured handling of discounts for senior citizens. With this service, Merchants enjoy significant cost reductions, and the city will be able to keep recorded digital booklets that provide a general overview of the data. Senior citizens will through My-ID app – the mobile digital wallet, obtains the benefits due by Philippine law in matter of seconds.

Fraud is also reduced to a minimum as the transactions are only between secured identities. The efficiency of the combination of the technology platform and the mobile wallet with application is extremely efficient. In the contract with Quezon City, proof of concept has demonstrated that the verification, the benefits provided to senior citizens and the registration of the transactions in digital booklets and account of the merchants is with automatic computing and reporting executed in seconds, vs a manual process of 5 minutes. There is no latency in the verification process, no data redundancy, no need for a password, and no need for physical contacts.

The firm is regarding this project a pilot project of significant scale for the SSI technology and aims in general full digital identity services on a national level in different industries and for several public entities.

It is the completeness of Protectoria Venture’s technology offering englobed by a powerful vision, coupled to the bold focus on the emerging SSI technology for digital identity that has attracted our attention and provided the reasons for the nomination as a “Top Ten Digital Identity Provider”. Protectoria is cruising into the future while its peers are still oriented around Web2.0 components. This early move is aiding them to expand their operations to three countries by 2024. Having a strong vision, strategy, technology, and resources, PROTECTORIA aims to become the pillar of a decentralized digital identity ecosystem.