What is idOS?
Last updated
Last updated
idOS (identity operating system) is a decentralized storage and access management network specifically designed to store user data. (L1) enables private and self-sovereign data storage, and allow users to share access to their encrypted data with applications and businesses across the internet. The idOS Economy Network, an Arbitrum Orbit L2 settling to Ethereum, implements a flexible data economy in smart contracts and meters the usage of the Storage Network. Applications can use the idOS SDK to perform all core functions they'd need to interact with idOS.
Effectively bring financial applications and users onchain requires a self-custodial way to store and share data, to yank it out of walled gardens and enable reusability. The idOS Consortium partners came together to settle on a joint and composable stack instead of each building their own.
The team behind idOS has been working on compliance, identity and data storage in web3 since 2017. Giving users back control over their own identity and data on the internet has been one of the biggest promises and – to date – failures of web3. So why now and why the idOS?
The need for decentralized identity and storage went from 'nice to have' to 'crucial for businesses'. We are seeing an advent of a global open source financial modularized vertical that will require a common identity stack. AI is breaching traditional measures to keep misinformation at bay. As our lives become digital, our governance systems should also do, but today we don't have the notion of 'a human' online. The need is pressing.
idOS has a radical different approach, puts user data availability front and center. idOS was built to work under the scrutiny of compliance officers, security researchers and product designers. The idOS main feature is to align data privacy, financial regulation and decentralized storage in an elegant way by having a holistic product approach that includes legal as an engineering function.
The idOS Storage Network is built to work in the real world, to help builders bring open source modules onchain, and help real users onboard and be in control.
idOS is an open-source, composable and chain-agnostic network that was founded and funded by an industry-wide to finally unlock self-custodial data and decentralized identity. The idOS Data Network is its own chain, but seamlessly connects to any other ecosystem and supports all leading blockchain ecosystem wallet signatures.
Don't take our word for it: idOS is live and you can go though a demo to see a KYC re-usability flow for a web3 neobank that offers a self-custodial banking product as well as a third party self-custodial card.
Onchain financial fintechs and neobanks (i.e. OpenFi applications) are bringing open source, permissionless infrastructure that relays on stablecoin rails into our daily financial transactions. Our is that for decentralized identity to finally pick up, we need to solve the hardest, most pressing problem: KYC-reusability.
