Zetrix, a layer-1 public blockchain platform, has unveiled an innovative application that allows the official identities of Chinese nationals, known as “Chinese Digital IDs,” to be authenticated and verified digitally overseas. This initiative streamlines the verification process for both verifiers and identity holders, ensuring efficiency and security.
Simplifying eKYC Processes
The new ZCert service simplifies electronic Know Your Customer (eKYC) procedures for organisations outside of China seeking to verify the authenticity of the Digital IDs presented by Chinese nationals. This pioneering solution stems from Zetrix’s unique integration with China’s national public blockchain, Xinghuo BIF.
Chinese nationals can choose to publish their Digital IDs on Xinghuo BIF, making their data accessible to verifying entities abroad through the ZCert service on Zetrix, which operates the Xinghuo International Supernode, Astron.
Transforming KYC with Smart Contracts
“We’re thrilled to unveil this groundbreaking cross-border Digital ID service, which opens up a new realm of opportunities powered by smart contracts. The KYC procedures can now be streamlined and automated, making them more efficient. Additionally, users maintain complete control over their data, sharing only essential information securely and in an encrypted format,” expressed TS Wong, co-founder of Zetrix.
“Transactions on Web 3 platforms can now be carried out in full adherence to current regulations. By integrating our Chinese Digital ID application with Malaysia’s National ID, WorldID, and future sovereign IDs, ZCert emerges as the most extensive global Digital ID solution,” he continued.
Building Cross-Border Trust
Fostering trust across borders is crucial, particularly when it comes to verifying digital identities, credentials, and documentation. We would like to create a trusted data channel, together with MYEG, to facilitate international cooperation between China, Malaysia, and the rest of the world in the digital age,” said Xiaoyu You, Head of the International Cooperation Department at the Institute of Industrial Internet & IoT, China Academy of Information and Communications Technology (CAICT).
Advantages of Blockchain Technology
Utilising the unparalleled advantages of blockchain technology, the ZCert service offers a more advanced, convenient, reliable, and secure method for real-time identity information verification. This innovation enhances the overall experience for both identity holders and verifying entities, surpassing conventional credential verification methods.
The immutability of blockchain ensures verifiers can confirm that National IDs issued and accessed through the Xinghuo-Zetrix collaboration are authentic and have not been altered. Unlike conventional ID cards, which may be subject to tampering or fraud, this system provides an immediate, trustworthy method for assessing authenticity.
Enhanced Privacy and Dynamic Updates
The new National ID verification service on ZCert leverages the Self-Sovereign Identity framework within Web3 technology, allowing identity holders to selectively disclose relevant information such as their name or home address while protecting non-relevant personal data. In contrast, traditional ID cards lack such privacy safeguards, as all displayed information is static.
Moreover, verifiable digital IDs offer the advantage of being dynamic, allowing authorised issuers to update user data to reflect the most current personal information, ensuring accuracy.
Future Expansion Plans
The launch of the Chinese Digital ID verification facility is the latest innovation on ZCert, following the introduction of a service that digitises and verifies Chinese driving licences overseas. Zetrix anticipates the progressive expansion of the ZCert cross-border credentials verification service in the coming months to encompass additional critical documents for individuals and businesses.