Axuall, a next-generation digital network for verifying identity, credentials, and authenticity in real-time, announced today that it has been unanimously approved as a Sovrin Steward by the Sovrin Foundation Board of Trustees.
Based on a public permissioned blockchain model, the Sovrin Network ledger is operated by Stewards, trusted organizations within the ecosystem who have agreed to abide by the requirements in the Sovrin Governance Frameworkand are responsible for operating the nodes that maintain the Sovrin distributed ledger. The community of Stewardsincludes thought leaders from across software, financial services, telecommunications, non-profit, and law.
Axuall will utilize Sovrin’s identity metasystem to cryptographically tie digital signatures to verifying entities, such as license boards and medical schools, to prove the authenticity of credential claims of medical practitioners and care organizations.
“The cumbersome process of acquiring verification of business assertions such as professional credentials, beneficiary eligibility, and supply chain data can no longer meet the demand for efficiency, privacy, or safety. This problem represents a multi-billion-dollar problem for healthcare, financial services, transportation, government, social services, and security organizations as they expand their delivery channels and serve larger customer bases”, stated Charlie Lougheed, Axuall’s CEO. “Our goal is to enable a safer, more efficient, and faster way of verifying critical assertions”.
With its first beta release scheduled for later this year, Axuall will provide a streamlined, auditable, and tamper-proof cloud service for sharing critical facts, such as identity and credentials, that have been digitally verified and signed by authorized third parties, compliant with the highest standards of authenticity. This will be a global network linking credential holders, verifiers, and subscribers enabling self-sovereign, portable, and real-time sharing of digital credentials across the expanding marketplace and digital economy.
“The Sovrin Foundation is excited to welcome Axuall as a Steward of the Sovrin Network,” says Heather C. Dahl, CEO & Executive Director of the Sovrin Foundation. “We look forward to supporting Axuall as it brings self-sovereign identity to the healthcare industry, allowing for the easy and secure exchange of digital credentials between healthcare professionals and institutions.”
Axuall’s initial go-to-market strategy will focus on professional credential data solutions, addressing the needs of healthcare systems in the U.S., as well as large health insurers in their markets. Later modules are expected to address the financial services, transportation, government, social services, and security sectors.
“We believe health care practitioners should be empowered to control their information and credentials. In essence, we are creating a digitally verifiable resume to decrease the friction faced by both employees and employers in the management of credentials,” stated Lucky Tavag, Axuall’s VP of Engineering. “By anchoring trust against a well-established distributed ledger, we are ensuring the authenticity of the issued credentials. Furthermore, using the W3C Verifiable Credentials standard creates room for a vibrant and interoperable ecosystem for credential exchange.”
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About Axuall, Inc.
Axuall is a digital network for verifying identity, credentials, and authenticity in real-time. We address a multibillion-dollar need to eliminate waste, prevent fraud, manage risk, and meet the demand for next-generation products and services in healthcare, financial services, manufacturing, government, and other industries where proof matters.
For more information, contact: Jeffrey Stern | jeffrey.stern@axuall.com
About the Sovrin Foundation
The Sovrin Foundation is a nonprofit organization established to administer the Governance Framework governing the Sovrin Network, a decentralized global public network enabling self-sovereign identity on the internet. The Sovrin Network is an open-source project operated by independent Stewards and uses the power of a distributed ledger to give every person, organization, and thing the ability to own and control their own permanent digital identity.
