KILT enables cost-effective digitization initiatives using decentralized digital identities and reusable credentials for people, organizations, machines, and anything that an identity can be built on.
- Innovative. New marketplaces and revenue streams can be created around issuing or verifying reusable credentials for any use case or industry, from KYC (know your customer) for financial services to logins for gaming and media sites.
- Credentials enable logins without storing usernames / passwords or relying on big tech intermediaries.
- Users can decide which information in their credentials to disclose.
- The issuer of the credential doesn’t need to know how the credential is used.
- Only a hash representing the information is stored on the blockchain.
- Secure. Reduced need for data storage leads to reduced IT security risks and GDPR-related risks.
- Convenient. Enterprises can build and integrate blockchain applications without needing to purchase or use cryptocurrency, and a fiat on-ramp allows users to pay with PayPal or similar services.
- Standardized. Core identity is built around decentralized identifiers (DIDs), which are recognized by W3C as an industry standard and gaining adoption by government and identity projects globally.
- Sustainable. KILT is built on Polkadot, a blockchain network recognized for its low carbon footprint.
- Cost effective. Open source technology with no license fees.
Blockchain technology provides new ways of managing digital identity in a decentralized and self-sovereign way, giving control back to the owner of the data.
The KILT blockchain is owned and run by the global community of KILT Coin holders rather than one central body.
Anyone can build on KILT and harness the benefits of blockchain without large capital outlay or blockchain development experience. This makes KILT suitable for adoption across the board, from large, established enterprises to small businesses and entrepreneurs.
KILT is a fully audited, enterprise-grade identity parachain (specialized blockchain) on Polkadot, a proof-of-stake blockchain network. Polkadot’s groundbreaking technology has many advantages over other networks, combining low, definable costs with interoperability and bank-level security.