Company’s BlockID Platform creates a verified digital identity that can be reused with both the issuing organization and other third parties
1Kosmos, the only company that unifies identity proofing and passwordless authentication, announced it was named an overall, product and innovation leader by KuppingerCole Analysts AG in their recent Leadership Compass Report on Reusable Verified Identity platforms for 2023. According to industry estimates, the global market size for reusable identity will reach USD 266.5 billion by 2027, with a CAGR of 68.9%.
.@1KosmosBlockID named an Overall Leader by KuppingerCole in Leadership Compass Report for Reusable Verified Identity
The report analyzes vendors that enable a verified identity to be reused outside of the context in which it was issued (with other organizations, product lines or when the user assumes another role) while maintaining high levels of assurance with minimal reverification or validation effort. This ranges from using the verified identity multiple times at the same organization to using the verified identity issued by one organization with another, completely independent organization.
“There is plenty of opportunity for innovation in this market segment. Binding a real-world identity to a digital credential in the most secure, user-friendly, and privacy-preserving method requires creativity and a willingness to change the status quo,” said Anne Bailey, Research Strategy Director for KuppingerCole. “Leading the innovation group is 1Kosmos, a pioneer in using decentralized identity credentials that carry a high level of assurance for both workforce IAM and CIAM use cases.”
“1Kosmos was named an overall, product and innovation leader because we provide the full suite of capabilities required for Reusable Identity including identity verification, onboarding, credential issuance, credential storage, and authentication within the BlockID platform,” said Hemen Vimadalal, CEO of 1Kosmos. “This unified approach delivers an entirely digital onboarding and authentication experience for consumer, workforce and government use cases.”
1Kosmos BlockID is a distributed digital identity platform that provides multi-factor passwordless authentication to help organizations establish with certainty the identity of individuals who are accessing their systems, applications, data and digital services. BlockID also provides organizations with secure, automated worker onboarding via self service identity proofing for convenient access to corporate applications, data and resources.