Affinidi, a Singapore-based data and identity management company, launched the Affinidi Iota Framework built on open standards at the WeAreDevelopers World Congress, Berlin, Germany. This innovative framework establishes a new way for individuals to share data by prioritising explicit consent, empowering individuals to selectively share specific data points with a clear understanding of their intended use.
In the traditional digital landscape, individuals often share sensitive data with third parties without transparency or control, leaving their data vulnerable to misuse, unauthorised access, and data breaches. A Twilio report shows that 60% of Asia Pacific consumers demand consent and communication on data use, while a PwC study reveals a trust gap, with only 30% of consumers trusting businesses. Existing solutions exacerbate these issues by collecting vast amounts of individuals’ data (essential/non-essential) and transferring it to back-end databases, burdening developers with managing large volumes of data and associated risks.
Affinidi’s Iota Framework disrupts this outdated model, pioneering a new era of data privacy and security. The Affinidi Iota Framework enables developers to request essential data points directly from individuals, with explicit consent, eliminating the need to collect and store non-essential information. This approach ensures individuals maintain control over their data, reducing storage burdens, and minimising risks associated with data collection and potential misuse. Affinidi equips developers with dev-friendly templates and robust tools, streamlining the setup of data-sharing processes. With our easy-to-use SDK, developers can navigate the complexities of identity, privacy, and security, building innovative solutions in just minutes.
The Affinidi Iota Framework revolutionises data exchange between businesses and individuals by adhering to strict consent-first principles, providing businesses with richer, more accurate data that enhances personalisation, and fosters market innovation and competitiveness. Roopesh Shah, Co-Founder and CTO of Gro Club, India’s first and largest bicycle subscription model that recently adopted Affinidi’s solution for seamless integration, shared, “We began with Affinidi Login to simplify access to individual data through a one-click onboarding process. But with the introduction of the Affinidi Iota Framework, we are thrilled to advance beyond efficient customer onboarding, laying the groundwork for a future where every interaction is precisely tailored to individual preferences based on accurate and consented data.”