The Hashgraph Group Launches IDTrust: A Self-Sovereign Identity Platform

The Hashgraph Group (THG) has launched a self-sovereign identity (SSI) platform called IDTrust to provide a blockchain-based digital identity solution for individuals and institutions.

In an announcement sent exclusively to Cointelegraph, THG stated that the IDTrust platform is built on the Hedera network and powered by artificial intelligence. An SSI platform enables users to issue, manage, and verify credentials securely without needing centralized authorities.

The launch aligns with the acceleration of digital identity programs by governments and enterprises, including Switzerland’s e-ID initiative and the European Union’s eIDAS 2.0 regulation.

Additionally, blockchain-based identity initiatives have also emerged in Southeast Asia. Recently, Vietnam launched a national blockchain platform to support a decentralized identity solution.

Personal Data Control Gives IDTrust an Edge Over Competitors

THG co-founder and CEO Stefan Deiss told Cointelegraph that IDTrust utilizes the Hedera Consensus Service (HCS) stateless proof mechanism, claiming a distinct advantage over other blockchain-based solutions.
“Where Polygon and Ethereum must maintain the entire history of interactions, IDTrust does not increase the Hedera network’s size and does not burden the validators,” Deiss explained.
He added that IDTrust’s identity is not linked to the Hedera network and users are not required to hold Heders (HBAR) tokens or use the same key scheme as those in Hedera. “This kind of flexibility is not available in other solutions,” Deiss asserted.

According to him, IDTrust stands out in the crowded SSI market by offering a comprehensive decentralized digital identity management solution for enterprises and governments, which includes both authentication and authorization capabilities.
“This differentiates it from solutions like Polygon ID or Worldcoin, which focus mainly on proving identity or uniqueness,” Deiss stated. “Compared to Microsoft Entra, IDTrust offers a decentralized trust model that gives individuals full control over their personal data.”

Switzerland’s Push for Digital Identification

The IDTrust launch coincides with Switzerland’s push towards a national digital identity.
On June 20, the Swiss Federal Council initiated a consultation process regarding a new ordinance to govern electronic identification (e-ID) implementation nationwide.
Deiss informed Cointelegraph that the Swiss e-ID will be a proprietary system built on W3C standards and SSI principles, making it compatible with the IDTrust system.
“The IDTrust wallet will hold Swiss Verifiable Credentials, allowing users to mix them in Verifiable Presentations to access applications as required,” Deiss noted. “For instance, Proof of Personhood or Proof of Valid Driver’s Licence.”
He also mentioned that as a Switzerland-based company, THG collaborates with the government and has monitored the e-ID initiative and ordinance consultation process.
The IDTrust launch allows THG to engage in more active and progressive discussions with Swiss authorities.

Related: Philippines to secure government documents on Polygon despite network hiccup