On the 12th of September,2022, ShareRing announced that users who register with their government-issued documents such as electronic passports (ePassports), national identity cards, or any other approved document will enjoy the benefits of the Near Field Communication (NFC) technology and more advanced functionalities of the now revamped FaceMatch feature on activating their ShareRing ID.
According to ShareRing, a solution building a cyclic ecosystem anchored on the blockchain to provide better privacy for businesses and individuals, the requirement that users register with recognized government-issued identity documents is strategic. Notably, it will be a welcome development for the privacy-focused firm since documents such as e-passports and national identities provide higher confidence and trustworthiness on confirmation. Out of this base, ShareRing would then build a robust KYC solution leveraging NFC technology, further cushioning its global base from attempts of privacy infringement or impersonation.
Overall, NFC technology has several benefits when it comes to privacy. One of the key advantages is that it empowers users to have a higher degree of control over who has access to personal information. As such, with NFC, registered users on ShareRing can choose to share information with only those they have authorized.
Another benefit of NFC is that it can help prevent identity theft. If your NFC-enabled device is lost or stolen, it can be much more difficult for someone to access your personal information and use it to commit identity theft. Furthermore, NFC can also help to protect your data if your device is lost or stolen. Once a user’s gadget is lost, they can, at any instant, choose to lock them, meaning that regardless of where the device is, the user will only have access to personal information and no one else.
What NFC technology brings to the table is why ShareRing aims to offer it to its global user base, further ensuring that the true owners of ShareRing ID have verifiable documents for provenance. ShareRing will require users to submit their selfies to enable this feature and for smooth onboarding. This will be accessible via ShareRing’s tool, FaceMatch, for face detection. FaceMatch is put in place purposely for authentication, helping filter fraud attempts. The face appearing on any government-issued document must match the user’s selfie image. ShareRing has said they have made improvements on the tool to ensure that signup is seamless without error messages popping up.