Press release 191128-cocus-blog-ownid

GDPR certified blockchain solution

Press release:

Düsseldorf, 28 November 20219 – German Software Company is applying for a patent for the first GDPR-compliant blockchain solution for personal data in order to make identity management transparent and secure for all parties involved.

ownid, a platform for the simple and data protection-compliant integration of user identifications, now allows each company to return sovereignty over personal data to its own users. The blockchain-based white label solution thus promises transparency and personalisation without A GDPR brake.

The software company COCUS AG has not been deterred by the hurdles of the GDPR regulation introduced last year and has developed a solution for decentralized and at the same time data protection compliant identity management. With the patent-pending solution ownid, digital identities of companies can be used for their own products and solutions. End-users retain the full power to act over their data and can decide which data is passed on for what and to whom. This allows you to achieve any degree of personalization while controlling your own data.

With ownid, users decide for themselves what data they want to share

Helmut Nehrenheim from the Ministry of Economic Affairs, Innovation, Digitization and Energy of the state of North Rhine-Westphalia says: “Central storage of user data always carries the risk of data misuse. If the users are enabled to manage their own identity and the data is stored decentrally with them, trust in and through their data can be guaranteed. This requires such a new identity solution that is in line with EU regulations and international standards.” The ownid digital ID solution, which as an end-to-end platform supports companies at every step of a desired product, meets these requirements. Above all, the data protection effort in know-your-customer processes (KYC) is also minimized. This allows the end customer to be offered simple solutions for the management of personal data. The data is stored decentrally and cryptographically, creating a secure identity that can be used for a wide range of offers.
Thanks to the modular approach of ownid as a software kit, companies are able to provide users with an individual set of functionalities. In the future, users will be able to carry out processes such as check-ins, payment transactions, age verifications, contract changes, personalized service offers and much more with a simple click. This leads to higher efficiency, more safety, faster processes and reduced costs. The user always retains his or her data sovereignty.

Blockchain technology already used GDPR compliant today

When querying data, the user can now decide for himself which information he wants to provide to whom and can revoke this permission at any time. This secure and stable type of identity query is GDPR compliant, legally certified and promises a turnaround in digital identities. With ownid, blockchain technology can already be used in a GDPR compliant way.


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