Last updated 10/12/2022
Official Website: https://www.kilt.io/
KILT is a decentralized blockchain protocol that aims to give individuals control over their personal data by issuing verifiable, revocable, and anonymous credentials in the Web 3.0 ecosystem. By combining real-world trust with the advantages of blockchain technology, KILT aims to enable new business models related to identity and credentials. The protocol can be used by developers to create identifiers for people, machines, services, and any other entities. KILT is built on Parity Substrate and was launched on the Kusama (KSM) mainnet as a parachain in September 2021. Substrate provides opportunities for integration with other Kusama and Polkadot projects like gaming, NFTs, DeFi, and DEXs. Additionally, KILT is implementing partnerships in industries such as energy, healthcare, and banking.
KILT offers a solution for both consumers and developers in the digital identity space. For consumers, KILT allows them to represent their identity without revealing sensitive information. It brings the traditional process of trust in real-world credentials like passports and certificates to the digital world, while keeping the data private and under the user's control. Users have the ability to store their information and can choose what information they want to share with others.
For developers, KILT offers an open-source JavaScript Software Development Kit (SDK) that is easy to use, even for those without prior blockchain development experience. This SDK allows developers to quickly create applications for issuing, holding, and verifying credentials, which can be used to build new businesses around identity and privacy.
In KILT, digital identity is composed of two elements: a Digital Identifier (DID) and Verifiable Credentials (VCs) linked to that identifier. An individual's identity is built by adding more credentials to their identifier.
KILT allows a trusted authority (the Attester) to issue credentials, which are then owned and controlled by the person (the Claimer) to whom they are issued. KILT does not store personal data on the blockchain; this data is stored in the Credential, which is entirely under the user's control. The blockchain is only used to store hash values.
By utilizing blockchain technology, users can prove the authenticity and validity of their credentials to anyone they choose to share it with, using the hash stored on the blockchain. Additionally, the Attester has the ability to create a new hash to revoke the Credential if it is no longer valid.
KILT Protocol, BOTLabs GmbH, and the B.T.E. BOTLabs Trusted Entity GmbH (BTE), which was the original developer of KILT, were all founded by Ingo Rübe. He has experience in both media and technology, having previously held the positions of IT Project Director at Axel Springer and CTO at Hubert Burda Media, where he founded and oversaw the Drupal-based CMS Thunder. Ingo serves on the board of directors of the Drupal Association in addition to being founding members of the International Association for Trusted Blockchain Applications (INATBA), the Decentralized Identity Foundation (DIF), and BOTLabs.
Other key members include:
The Sporran wallet is a browser extension that grants access to the KILT blockchain identity protocol and Web3 services. It allows users to take control of their personal data, protecting their privacy. With Sporran, users can check their KILT Coin balance, sign and send transactions on the KILT blockchain, and create and manage a digital identity with a unique web3name.
Sporran also enables users to generate and store credentials, such as those obtained through SocialKYC or other compatible services, on their device. This allows them to remain anonymous and have control over their data when sharing it with online services. Additionally, users can make their credentials public through Sporran, which can help establish trust with digital service providers by providing contact information and other details.
Sporran also allows users to sign digital documents in a private and decentralized manner using DIDsign.
Website: https://www.kilt.io/
Block Explorer: https://polkadot.js.org/apps/#/?rpc=wss://full-nodes.kilt.io:9944
Github: https://github.com/KILTprotocol
Twitter: https://twitter.com/Kiltprotocol
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards