Introducing Self, the Web3 Fraud Prevention Platform

Self, the Web3 fraud prevention platform and decentralised trust network, has announced their recent beta launch.

Harnessing the power of blockchain technology, the Self platform solves fraud and the many issues surrounding it. The Self Network provides an array of user benefits spanning digital identity, data sovereignty, and end-to-end encrypted communications, with the open platform allowing developers to create a broad range of additional products. A comprehensive set of APIs and SDKs allows businesses to seamlessly integrate Self into their existing platforms and workflows.

Dan Sutherland, Founder at Self, commented:

“We are incredibly excited to share Self with the world. Globally, fraud is a 5.2 trillion dollar problem which affects all areas of our lives. Self provides a much-needed and long overdue solution to this, leveraging Web3 to bring the human factor back into the digital realm. Fundamentally, Self brings together people and technology in ways never seen before to tackle fraud in an entirely new way, and facilitates the development of a platform which will reshape the future of trust.”

Self’s underlying technology and architecture solve fraud via communication, authentication and verification layers that support a broad range of  use cases; from preventing account takeovers, ending losses from account sharing, and even safeguarding children online, Self’s platform allows for the development of a product suite which opens up new possibilities for how we live our digital lives.

At launch, Self provides four key services to businesses:

• Biometric Authentication; an authentication system which ensures companies know that they are granting access to the right user in real time. Built not just for app or website access, this service can be used in conjunction with messaging and calling along with signing documents, all while eradicating the hassle and risk of needing to have passwords or request verification codes by text message.
• Fact Verification; allowing users to store and verify information about themselves securely on their own devices, from passport  details to travel plans. This allows existing KYC to be tied to biometric authentication, persisting its validity and turning a login into a KYC check
• Symmetrical Authentication; businesses are set up to check their customers are who they say they are, but the reverse is often not the case. , Self builds deeper trust by making sure users know that the person they are interacting with is authorised to act on behalf of a business
• ID-Anchored Encrypted Communications; calling and messaging can be done directly in the Self app, leveraging it’s security to prevent fraud and allowing customer service teams to focus on helping customers immediately rather than spending time on security checks

Web2 has seen billions of people’s personal data syphoned up into giant databases which are ripe targets for  hackers and fraudsters. Self is using the supercomputers in everyone’s pockets to build a billion little databases each under the control of its user and connected to a Web3 distributed network. Data in people’s hands is safer than collated data in a cloud. Inbuilt encrypted communications and keychains of proof allow users to safely share their critical data and interact in safety with the people and companies they rely upon.

Founded in 2019, Self has spent three years researching and developing systems which deliver a radically new approach to addressing fraud. Founded by technology industry veterans, Dan Sutherland and Sena Gbeckor-Kove, Self Group is based in London. The first beta of Self is now ready for developers to integrate, and the app is now live on the Apple and Google app stores.

The next phase in the roadmap for Self will be the launch of its token, which will be taking place on the Ethereum network in Q1 2023.

For further details and to keep up to date with announcements, follow Self on Twitter.

About Self

Self is using Web3 tech to power a platform to solve the problem of fraud. Through the Self app, users are able to protect themselves and their data as they communicate, authenticate and share their information.

Developers can integrate Self services including biometric authentication, secure communications and data verification to build a new generation of products which can protect their users and their businesses from Fraud.

At Self, we believe that user-control of data is best for everyone, but only if the truth of data can be verified externally. Self gives people the power to be themselves online and in the metaverse and empower a new generation of business systems able to replicate real world relationships.

Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.