TrustGrid™

We’re excited to welcome Brett Kelsey as our new Chief Operating Officer at TrustGrid. With his vast expertise in cybersecurity, Brett will be instrumental in leading our US expansion as we meet the growing demand for decentralized identity and communication solutions. Stay tuned for more updates as we continue to transform the digital identity landscape. #Leadership #Cybersecurity #DigitalIdentity https://lnkd.in/dyBAHEHP

Another day , another hack . Medisecure , an electronic prescriptions provider in Australia , was the unfortunate victim of an attack which yielded PII ( personal identifiable information ) for 12.9 million people or almost half the population of Australia . As the ideas of decentralised identity , verifiable credentials , self sovereign identity and decentralised / distributed architectures continue to mature and gain further interest and footholds in the market , it's worth looking at some basic tenets about why these ideas make it more challenging for attackers . Decentralized identity (DID) systems make hacking centralized databases and servers harder primarily through the following mechanisms: Distribution of Data: In traditional centralized systems, personal data and identity information are often stored in a single location or a few centralized servers. In contrast, decentralized identity systems distribute identity-related data across multiple nodes or entities. This distribution reduces the appeal of attacking any single point because compromising one node does not grant access to the entire system. User Control: Decentralized identity systems emphasize user control and ownership of personal data. This means there is no central repository or single point of failure where all identities are stored. Cryptographic Security: DID systems often leverage cryptographic techniques such as public-private key pairs and digital signatures. These technologies ensure that identities are verified and transactions are secure without relying on a central authority. Interoperability and Standards: Decentralized identity frameworks typically operate on open standards and protocols, promoting interoperability between different systems and platforms. This reduces the likelihood of vulnerabilities that arise from proprietary implementations or closed systems. Standardization also facilitates the development of secure communication channels and protocols for sharing identity information securely across decentralized networks. Resilience to Attacks: Due to their distributed nature, decentralized identity systems can be more resilient against certain types of cyberattacks, such as distributed denial-of-service (DDoS) attacks. Even if some nodes or parts of the network are compromised or taken offline, the rest of the system can continue to operate independently. This resilience makes it harder for attackers to disrupt the entire system or gain control over a significant portion of it. In summary, decentralized identity systems mitigate the risks associated with centralized databases and servers by distributing identity-related data, emphasizing user control, employing cryptographic security measures, adhering to interoperable standards, and enhancing resilience against cyberattacks. These attributes collectively contribute to making hacking attempts on centralized databases and servers less effective and less attractive to malicious actors. TrustGrid™

Another day , another hack . Medisecure , an electronic prescriptions provider in Australia , was the unfortunate victim of an attack which yielded PII ( personal identifiable information ) for 12.9 million people or almost half the population of Australia . As the ideas of decentralised identity , verifiable credentials , self sovereign identity and decentralised / distributed architectures continue to mature and gain further interest and footholds in the market , it's worth looking at some basic tenets about why these ideas make it more challenging for attackers . Decentralized identity (DID) systems make hacking centralized databases and servers harder primarily through the following mechanisms: Distribution of Data: In traditional centralized systems, personal data and identity information are often stored in a single location or a few centralized servers. In contrast, decentralized identity systems distribute identity-related data across multiple nodes or entities. This distribution reduces the appeal of attacking any single point because compromising one node does not grant access to the entire system. User Control: Decentralized identity systems emphasize user control and ownership of personal data. This means there is no central repository or single point of failure where all identities are stored. Cryptographic Security: DID systems often leverage cryptographic techniques such as public-private key pairs and digital signatures. These technologies ensure that identities are verified and transactions are secure without relying on a central authority. Interoperability and Standards: Decentralized identity frameworks typically operate on open standards and protocols, promoting interoperability between different systems and platforms. This reduces the likelihood of vulnerabilities that arise from proprietary implementations or closed systems. Standardization also facilitates the development of secure communication channels and protocols for sharing identity information securely across decentralized networks. Resilience to Attacks: Due to their distributed nature, decentralized identity systems can be more resilient against certain types of cyberattacks, such as distributed denial-of-service (DDoS) attacks. Even if some nodes or parts of the network are compromised or taken offline, the rest of the system can continue to operate independently. This resilience makes it harder for attackers to disrupt the entire system or gain control over a significant portion of it. In summary, decentralized identity systems mitigate the risks associated with centralized databases and servers by distributing identity-related data, emphasizing user control, employing cryptographic security measures, adhering to interoperable standards, and enhancing resilience against cyberattacks. These attributes collectively contribute to making hacking attempts on centralized databases and servers less effective and less attractive to malicious actors. TrustGrid™

On June 3 & 4 our CEO and Founder Santosh Devaraj was invited as a speaker for 3 separate session engagements at the PACT Symposium ( Pacific Alliance for Collaboration and Technology ) . The PACT Symposium’s goal is to help accelerate an Allied Nations dual-use industrial base in preparation for an imminent spike in demand for dual-use technologies.The Symposium directly engages U.S., Japanese, Australian, U.K. and other Allied Nation dual-use technology companies with U.S. government contracting and funding leaders. The unique two-day event builds on previous PACT conferences and connects contract funders and government requirements developers with industry partners and other key stakeholders in Japan and the broader Indo-Pacific region. The Symposium is conducted under Chatham House Rules , hence no details can be shared of topics or the content discussion points . However TrustGrid™ will soon be announcing further exciting developments with US Defense organisations that will shed further light on what we disclose !

On June 3 & 4 our CEO and Founder Santosh Devaraj was invited as a speaker for 3 separate session engagements at the PACT Symposium ( Pacific Alliance for Collaboration and Technology ) . The PACT Symposium’s goal is to help accelerate an Allied Nations dual-use industrial base in preparation for an imminent spike in demand for dual-use technologies.The Symposium directly engages U.S., Japanese, Australian, U.K. and other Allied Nation dual-use technology companies with U.S. government contracting and funding leaders. The unique two-day event builds on previous PACT conferences and connects contract funders and government requirements developers with industry partners and other key stakeholders in Japan and the broader Indo-Pacific region. The Symposium is conducted under Chatham House Rules , hence no details can be shared of topics or the content discussion points . However TrustGrid™ will soon be announcing further exciting developments with US Defense organisations that will shed further light on what we disclose !

A quick update on TrustGrid activity over the last few months! In May our Head of Global Sales Ben Kiunisala headed to South Africa for the ID4Africa conference , looking at the state of progress of digital identity on the African continent . In June ( amongst many other things ) !) our Founder and CEO Santosh Devaraj attended the PACT Innovation Symposium Conference in Japan , as a speaker and briefing both US and Japan defence officials as well as civilian agencies and commercial interests due to the dual use nature of TrustGrid technology . Additionally very shortly we will be announcing some key hires in the US as well as some very exciting news in the defence space ! More to come with dedicated posts on these topics !

We are hiring in Bangalore ! Come join the technical team revolutionising the world of identity ! https://lnkd.in/g89nBzZS

The ASEAN Digital Credentials Platform (AKREDI) is a key success story of ASEAN-Australian collaboration during the recent ASEAN-Australia Special Summit. AKREDI is a digital trust platform for professional and business identities, attributes and assets, which will redefine accreditation, authentication, eKYC and eKYB processes in Southeast Asia especially for cross-border mobility of talents, businesses and investments. The project is on track to be released this year and is currently developed through a strategic partnership between TrustGrid, an innovative Australian tech company, specializing in secure digital ecosystems, and Dynamik Technologies, Brunei’s premier IT consulting and service provider, with the support of ASEAN Business Advisory Council (ASEAN BAC) Brunei.  TrustGrid CEO Santosh Devaraj added, "We are very proud to partner with Dynamik Technologies and ASEAN BAC to support the entire ASEAN community with TrustGrid technology powering the ASEAN Digital Credentials Platform (AKREDI). AKREDI will enable and empower in particular the MSME and gig economy with vBL's (verifiable business licenses) as well as eliminating AML related issues for business establishment and business transactions. Additionally, this provides MSME's with the ability to perform trusted and secure transactions. Ultimately, this will expand to include cross border business credential verification to solve the challenges related to ownership, know your customer (KYC) and know your business (KYB). We are very much looking forward to rolling out the AKREDI digital trust platform across the ASEAN region as we drive true digital transformation to establish the Green Digital Economy". The ASEAN-Australia Special Summit provided a prestigious platform for AKREDI to be unveiled to a global audience of policymakers, industry leaders, and stakeholders attending the prestigious event held in Melbourne to celebrate 50 years since Australia became ASEAN's first Dialogue Partner. https://lnkd.in/gPKQ4Ra5 https://lnkd.in/g7h5s3bz

Exciting times for TrustGrid™ as we expand into India and soon open our third office in Bangalore ! Welcoming our new members of the team ! Akshay Kurhekar Abhiram Satpute @Mohd Nahid Anand Kumar Srivastava Sharansh Guha @Reetu Singh Janhavi kumar Santosh Devaraj Arvind Manchenahalli Vijay BangaloreKrishnamurthy Fency Wright, MAcc, CPA Aus, AGIA, JP(NSW), TPB Stuart Kauter Aidan Herbert Michael Toth Ben Kiunisala

Brunei is exploring new paths in the economics of online trust to increase the efficiency of government services and online businesses. With the 15th highest internet penetration globally and the highest in Southeast Asia (95% in 2021), 76% of Bruneians use e-commerce to shop, bank, and pay. Dynamik Technologies, Brunei's leading IT company, has partnered with TrustGrid Pty. to deliver a decentralized identity and decentralized trust infrastructure. As part of Digital Brunei initiatives and the Digital Economy Masterplan 2025, the Brunei government is investing in digital transformation to fuel economic vitality and enrich the quality of life for its residents. Decentralized identity Decentralized identity enables efficient delivery of government services, as government-issued credentials can be cryptographically verified at all stages of their lifecycle without involving the issuer. Decentralized identity eliminates the cost of managing centralized directories and user credentials, outsourcing the liability of securing high-value PII to the user. With decentralized identity, there is no dependence on third-party gatekeepers, putting businesses and citizens in control of their own privacy. The societal value of decentralized identity is well understood. The European Union started work on eIDAS (electronic Identification, Authentication, and Trust Services) in 2011 and incorporated it in 2014. The objective of eIDAS is to provide EU citizens with an identity that is decentralized from the gatekeepers of the internet. eIDAS has expanded and now includes the European Digital Identity Wallet, blockchain, and W3C verifiable credentials. Decentralized persistence layer Decentralized identity relies on an immutable persistence layer to provide access to public identifiers without a centralized identity repository. Blockchain has been the default persistence option, but TrustGrid has migrated to an open-standards blockchain alternative for increased robustness, agility, and simplicity of deployment/management. TrustGrid's persistence layer meets all the requirements for a decentralized immutable persistence layer and fully supports the W3C DID, VC, and WebAuthn specifications. Hardware Root-of-Trust Hardware root-of-trust (HRoT) is leveraged by TrustGrid on user devices as a security/trust anchor. All user devices (iOS, Android, Mac, Chrome, Windows) contain an embedded HRoT with a cryptographic API, allowing keys to be generated, used, and stored within secure hardware. Hardware-attested credentials on a user's personal device are inherently non-custodial with a strong identity bind to the user, making signatures with hardware-attested keys non-revocable and non-spoofable. Decentralized identity enhances the economics of trust, enabling greater participation, more variety, and making the local economy more vibrant.