Oli Platt
Product and Marketplace Manager
NayaOne is thrilled to announce that NuID has joined the NayaOne Marketplace, making NuID’s trustless authentication API and decentralised identity solution accessible to a diverse range of institutions. It will benefit firms looking to protect sensitive user data against cyberattacks whilst empowering internet users to take control of their online identities.
Globally, passwords and credentials have been targeted in 57% of cyberattacks and breaches, with 81% of breaches resulting from stolen or weak credentials. NuID’s solution uses zero knowledge cryptography and distributed ledger technology to eliminate the need for users to share their sensitive authentication details with anyone. It enables users to login with passwords, biometrics, and more, without sharing any sensitive and private data. With zero knowledge cryptography the actual password is never sent off-device or stored anywhere, thus protecting it against interception or being stolen in a server-side breach. NuID is now available for evaluation in the NayaOne Digital Sandbox.
NuID’s authentication solution operates on the privacy-by-design decentralised identity framework and eliminates risk of credential breach whilst keeping the existing login UX intact. It uses a distributed ledger to store the non-sensitive public reference parameters generated from authentication secrets, thereby providing critical tamper-proof and decentralised properties that remove the need for a centralised database, that could be a potentially vulnerable point of failure. NuID’s API is simple to interact with, and can be integrated into almost any authentication flow. NuID’s authentication solution is now accessible via the NayaOne Marketplace and available to be evaluated by Financial services institutions as well as other firms.
NuID is excited about the partnership with NayaOne. It plays an important role in helping bridge the innovation teams at traditional financial institutions to new technologies broadly in the Web3 space.
Ibrahim Pataudi
Vice President of Business Development at NuID
We are excited to have NuID’s trustless authentication solution available on the marketplace, great addition to our data protection and privacy solutions which work to to provide proof of ownership and control over identity to protect both the client and the customer in the Web3 space.
Oli Platt
Product and Marketplace manager at NayaOne
The NuID mission is to empower all users of the internet to take ownership and control of their online identities. Founded in 2017, NuID is a pioneer in decentralized identity and authentication solutions. The company is known for building a trustless authentication protocol which leverages zero knowledge proofs and distributed ledger technology, such that services that implement NuID auth can eliminate the risk of a credential breach. NuID has built upon their existing solution to launch development of the Nu Identity Ecosystem. This ecosystem will enable portable user-owned identity and release individuals and services from the limitations of the current identity and authentication model. NuID is located in the U.S. with employees across the country.
