Give an Identity to your crypto wallet
Current crypto wallets like Metamask, Trust wallet, Ledger or Temple wallet for Tezos do not carry personal data as verifiable credentials. We think that they will do it in a more or less close future to adapt to regulations but for the moment it is therefore extremely difficult to know the user who is carrying out a transaction. Anonymity is an important benefit of blockchain technology but in some cases this can be a problem.
The use of processes such as the KYC carried out by the site of the Web3 platform responds badly to this problem for several reasons :
- It reveals all of a user’s personal data to the Web3 operator and some of it is unnecessary for the strict need of the application.
- It is often impossible to ensure that the crypto address is indeed owned by the person performing the KYC.
- KYC is the only proof that it is possible to produce even though the identity of a person can be proven by a large number of documents (diplomas, employer certificate, health card, proof of address, etc.)
- KYC is often attached to a single address on a single blockchain
The use of Altme Wallet easily solves these problems because it allows the user to transfer only the minimum, necessary information, to choose the attribute(s) of his identity from different documents and then to associate them with an address group. possibly on different blockchains.
However, to take advantage of SSI features with a crypto wallet, it is necessary to associate your prefered crypto wallet with Altme Wallet.
The association of a crypto wallet to Altme Wallet can be done in 2 different ways :
- By transferring the private key (or passphrase) from the crypto wallet to the Altme Wallet. The crypto account is then available on Altme Wallet as if it had been created by Altme Wallet.
- By creating in Altme Wallet a proof of blockchain account ownership without revealing the private key of the crypto wallet. This is possible using the Beacon Tezos or WalletConnect EVM protocols to authenticate with the crypto wallet.
The Altme Wallet can therefore carry the verifiable credentials of the user of a wallet such as Metamask or Ledger, which then simplifies and secures the onboarding of this user on web3 platforms.
Crypto wallets supported are (none exhaustive list) :
- Tezos : Temple mobile, Temple Web Extension, Air Gap, Kukai, Digital Art Autonomy, Umami
- EVM : Metamask mobile, Metamask web extension, Ledger Live, Ledger, Trezor, Trust Wallet, Coinbase wallet, My Ether Wallet, Rainbow, Argent Wallet