Blockchain Identity Confidence Score Calculation
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Solution Overview
Problem
Existing identity verification processes in finance, healthcare, and other industries face challenges with high user friction and fraud, as current methods are cumbersome and inefficient, deterring users and incurring costs for identity providers due to unverified identities.
Innovation Solution
A processor-implemented method calculates an identity confidence score based on validated identity attributes stored in a blockchain, allowing decentralized identity providers to assess and share confidence scores, reducing user friction and fraud by leveraging already validated identity information.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional identity verification methods are used, then security is maintained through thorough verification, but user friction increases and the process becomes cumbersome
Solution Approach 1:
Identity attributes are validated and confidence scores are calculated in advance by decentralized identity providers before the actual verification transaction occurs. The blockchain stores these pre-computed confidence scores, allowing requesting systems to instantly retrieve verified identity information without performing redundant verification steps, thus eliminating user friction while maintaining security through pre-validated attributes
Solution Approach 2:
A blockchain-based intermediary system is introduced between identity providers and requesting systems. This intermediary stores and manages confidence scores in a decentralized manner, allowing seamless information exchange without requiring direct trust relationships or complex verification protocols between individual parties, thereby reducing operational complexity while preserving security
2Reliability
If traditional identity verification processes are implemented, then fraud detection is attempted, but costs increase for identity providers due to unverified identities
Solution Approach 1:
The system enables self-service verification where requesting systems autonomously retrieve and evaluate confidence scores from the blockchain without requiring manual intervention or expensive third-party verification services. Identity providers benefit from this as the decentralized network collectively performs verification, eliminating the need for each provider to independently invest in costly verification infrastructure while maintaining robust fraud detection through aggregated confidence scoring
3Measurement precision
If comprehensive identity verification is performed, then accuracy of identity validation is improved, but the complexity of the verification system increases
Solution Approach 1:
The identity verification system is segmented into independent functional components: identity attribute validation, confidence score calculation, blockchain storage, and score retrieval. Each decentralized identity provider operates independently to validate specific attributes and contribute to the overall confidence score, allowing the system to maintain high validation accuracy through distributed expertise while reducing overall system complexity through modular architecture
Data Source
AI summary
A processor-implemented method provides a calculated identity confidence score for an identity. The processor(s) in each of a plurality of decentralized identity providers calculate an identity confidence score of an entity. The processor(s) store the calculated identity confidence score in a blockchain. The processor(s) retrieve the calculated identity confidence score from the blockchain. The processor(s) provide the calculated identity confidence score to a requestor, which is a computer-based system that performs an action based on the provided calculated identity score.