7.4 KiB
Glief
For businesses the world over, confidence in digital authenticity is in short supply. Can you be sure that your bank’s website is not an elaborate phishing recreation? Did that e-invoice really come from your business partner? How can you tell? [...]
- Self-sovereign digital identity, vLEI as identification standard for InfoCert DIZME network
VLEIs are cryptographically verifiable credentials compliant with W3C standards, containing LEIs. The program launched by GLEIF to promote vLEIs aims to create an ecosystem, a credential governance framework, and a technical support infrastructure.
Through vLEIs, companies, government organizations, and other legal entities around the world will have the ability to identify themselves unambiguously, even outside of the financial markets, to conduct a growing number of activities digitally, such as:
- the approval of transactions and contracts,
- the acquisition of new customers,
- transactions within logistics chain and import/export networks,
- the submission of reports and prospectuses to regulatory bodies.
Also, vLEIs will allow for the extension of identity verification of legal entities to include individuals who fill roles of interest within those entities.
- GLEIF Press Release
- LEIs to enable corporate digital ID with verifiable credentials
The Global Legal Entity Identifier Foundation (GLEIF) is the umbrella body that delegates responsibility for issuing LEIs to local organizations.
It’s such a pressing issue that it was raised by the OECD and B20 (G20 business) just three months ago when they suggested a Global Value Chain (GVC) Passport.
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Launching the Global Assured Identity Network (GAIN) with Elizabeth Garber UbiSecure
fills us in on what the GAIN project is, explaining how it’s different from other trust networks and why GAIN is good for financial institutions. She also discusses the role of the Global Legal Entity Identifier Foundation (GLEIF) in the project, and what’s next for GAIN.
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Following the launch of GLEIF’s digital business identity initiative designed to bridge the trade finance gap in Africa, we’re catching up with our key partners to hear their thoughts on how the project will bring about greater financial inclusion for SMEs on the continent and beyond.
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The Birth of the vLEI: A New Dawn in Digital ID for Legal Entities Everywhere GLIEF
Using KERI, vLEIs can be created and utilized independently of any specific organization, with the highest levels of security, privacy, and ease of use. KERI also enables GLEIF and the vLEI trust ecosystem to operate under GLEIF’s governance framework, unencumbered by the governance of external systems, including those of blockchains and distributed ledger consortia.
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InfoCert adheres to the GLEIF International Foundation's program for promoting vLEI
The vLEI is a cryptographically verifiable credential according to W3C standards and containing the LEI ( Legal Entity Identifiers ), the identification code of legal entities made mandatory by Mifid II in order to operate on the financial markets: InfoCert, formerly LOU ( Local Operating Unit ) authorized by GLEIF will adopt vLEI as an identification standard within its DIZME ecosystem , the blockchain-based decentralized digital identity platform.
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eBook: ‘The vLEI: Introducing Digital I.D. for Legal Entities Everywhere
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How to get a vLEI Credential Simon Wood, UbiSecure
The first step in issuance is for a representative to enter a contractual agreement with a QVI to provide the issuance service. The individual from the legal entity that undertakes this contractual signup is known as the Designated Authorised Representative (DAR) [...]
As per the LE-vLEI description the above is simplified. The full OOR-vLEIs issuance process is detailed in the Ecosystem Governance Framework vLEI Credential Governance Framework Legal Entity Official Organizational Role
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GLEIF Launches New Stakeholder Group to Accelerate the Integration of LEIs in Digital Certificates
GLEIF has launched a CA Stakeholder Group to facilitate communication between GLEIF, CAs and TSPs from across the world, as they collectively aim to coordinate and encourage a global approach to LEI usage across digital identity products. Participation has already been confirmed by China Financial Certification Authority (CFCA), DigiCert Inc, InfoCert, Entrust Datacard, ICAI India, and SwissSign.
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The Seven Step Process to Becoming a Validation Agent: a closer look at the trial process with GLEIF’s latest eBook
By becoming Validation Agents financial institutions can also streamline, accelerate and diversify their use of the LEI, and ensure their autonomy as they look to digitize their business processes.
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The LEI in Numbers: Data from the latest Global LEI System Business Report reveals LEI adoption from January to March 2021.
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PSA Today: Kaliya & Seth talk LEIs with Simon Wood, CEO of Ubisecure (#1 issuer of Legal Entity Identifiers)
the evolution of LEIs since the financial crisis of 2008, the difference between high assurance and low assurance, and the relationship between rights and ownership as it relates to identity management of entities.