Avast, a global leader in digital security and privacy, announced the acquisition of Evernym. The US company was instrumental to the invention of self-sovereign identity, with leading contributions from their Chief Trust Officer, Drummond Reed, and others in the company working within the industry standards community. This work has enabled the development of innovative products and services based on decentralized digital credentials, leading to a more trustworthy online experience.
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Evernym’s groundbreaking approach to digital identity provides consumers with autonomy over their online presence by keeping their personal information with them and out of centralized databases. Awarded ‘Technology Pioneer 2021’ by the World Economic Forum, Evernym is already embedded in industries such as travel and finance where Evernym’s technology is at the heart of the IATA (International Air Transport Association) Travel Pass, and also powers Bonifi’s ‘MemberPass’ solution for community financial institutions.
Ondrej Vlcek, CEO Avast, said, “Consumer trust in the online world has been critically compromised. Over 60% of the world’s population has internet access yet we don’t have adequate provisions in place for these people to prove who they are online. The result is that identity theft, online fraud and account takeovers are growing rapidly, as does mass-scale digital tracking and surveillance. Our vision for digital freedom is to enable people to manage and retain control over their personal data so that they can interact and transact safely, privately and with confidence. Decentralized digital identities are a key component of that vision. Adding Evernym’s groundbreaking self-sovereign identity technology to our offering enables us to address this area and is a huge step forward in the realization of a digital world where decentralized, portable identities are available universally and globally.”
In a self-sovereign or decentralized identity model, the individual retains all of their data and chooses what data they consent to share in any transaction and who they share it with, removing the need for passwords,