Hashgraph Unveils Blockchain-Based ID Solution

Hashgraph Group has launched the IDTrust sovereign identity (SSI) platform on the Hedera network, as reported by Cointelegraph.

The solution employs artificial intelligence technology, enabling users to securely transfer, manage, and verify credentials without the involvement of centralized authorities.

The product launch coincides with the acceleration of SSI programs by governments and corporations, including the Swiss e-ID initiative and the European Union’s eIDAS 2.0 regulation.

On July 25, the Vietnamese authorities announced the creation of the national blockchain platform NDAChain, positioned as a foundational data verification layer for systems in both the public and private sectors.

Hashgraph co-founder and CEO Stefan Deiss explained that IDTrust utilizes the stateless proof mechanism of the Hedera Consensus Service. This approach does not impose additional burdens on the network and validators, unlike similar SSI solutions based on other blockchains such as Polygon and Ethereum, he added.

According to him, IDTrust is separate from Hedera, and users are not required to use the network’s key scheme. The platform’s functionality includes not only authentication but also authorization.

“This distinguishes it from solutions like Polygon ID or Worldcoin, which primarily focus on identity or uniqueness verification. Compared to Microsoft Entra, IDTrust offers a decentralized trust model that gives users full control over personal data,” Deiss emphasized.

The Switzerland-based company is collaborating with the country’s authorities on an initiative to implement electronic identity cards. It is expected that IDTrust will be fully compatible with the state e-ID system being implemented on SSI principles.

Back in March, Hedera developers launched a beta version of the new EVM-compatible blockchain HashSphere, designed for corporations in regulated industries.