Albus

Streamline identity management while capturing monetization OPPORTUNITIES

Albus Protocol is a highly adaptable infrastructure that introduces decentralized identities (DID) controlled by users and monetizable through a revenue-sharing model. With built-in privacy and compliance tools, these identities can be openly or privately verified for compliance with any requirements across a wide range of Web2 and Web3 use cases.

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Features

Monetization

Enables users and business clients to monetize identities through a revenue-sharing model

Reusability

Allows verified identities to be reused across platforms, reducing redundancy

Decentralization

Eliminates centralized data storage, enhancing security and mitigating risks

User-Controlled Identities

Empowers users with full control over their digital identities, managing data access securely within SSI model

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AML Compliance

Provides due diligence functionality for AML officers that ensures compliance with AML regulations

Privacy

Zero-Knowledge Proofs (ZKP) cryptographically guarantee complete privacy when users share their personal data

Data Retention

Data retention mechanism secures ad-hoc compliance with data retention requirements

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USE CASES

DeFi industry

DeFi platforms seeking new liquidity

Albus makes sure every user has passed KYC verification—an integral part of AML compliance required so that regulated traditional finance and institutional players can make their liquidity available on blockchain.

DeFi industry

Security token traders

Tokenisers of real-world and illiquid assets, or any other security token traders, must comply with KYC/AML regulations to be able to operate on public blockchains. Albus’s ZK-based KYC is an important part of these regulations.

DeFi industry

Undercollateralized lending services

These lending platforms can use Albus for scoring users and improving risk management performance, ultimately making their way to secondary loan markets.

DeFi industry

Any DeFi platform that wants a future-proof business

New regulations are being adopted across the global DeFi industry. Any DeFi platform looking to operate in the new regulatory environment will have to put new compliance practices in place. Albus can facilitate that.

Other industries

marketing

Point systems

Albus enables businesses to create point systems that store decentralized identities of users as NFT and securely track their rewards as part of marketing campaigns.

marketing

Member club cards

Albus issues membership cards for users tied to their decentralized identities. These cards are used to control access to exclusive privileges and benefits of the club.

tokenized asset trading

Eligibility checks

Albus runs privacy-preserving KYC checks to verify if users are eligible for different types of transactions with tokenized assets to ensure compliant trade.

FinTech

Proof-of-fund (PoF) checks

FinTech and any other platforms that require proof-of-funds (PoF) verification can integrate Albus to make sure that their users have enough money to be eligible for a transaction or a service, without demanding access to sensitive data.

Logistics

KYS and shipment tracking

Albus provides carriers with a solution to identify suppliers (KYS) and assets, track shipments, prevent counterfeiting, control quality, monitor compliance, etc.

Retail

Age-restricted sales

With Albus, these retailers can make sure each sale they make via a public blockchain is compliant, for example alcohol is sold only to customers of legal age.

Metaverse & gamefi

KYC in virtual transactions

As Metaverses and on-chain gaming projects usually involve financial transactions, such as sale of virtual assets, they need to be sure their users are of legal age. Albus offers an additional compliance layer through KYC verification of such users.

WEB 2.0

Privacy-preserving verification

Albus can become a valuable verification tool for any Web 2.0 platform that needs to know their users but wants to maintain a privacy-oriented approach.

how albus works industries presentation

PRESS ABOUT US

Albus Protocol has been covered by notable media outlets.

PARTNERS AND INTEGRATIONS

Albus Protocol closely collaborates with a number of reliable partners and integrations.

TEAM & ADVISORS

Albus Protocol is being developed by a Switzerland-based company with extensive software development experience and a track record of successful projects on Solana. The team brings together top professionals with unique expertise across IT and business areas. The company's advisory board comprises experts in finance, law, and compliance.

team

ROADMAP

faq

How is integrating Albus different from using traditional KYC providers?

Engaging traditional KYC providers usually means that you have access to the personal data of your users. This creates a burden of securely storing the data and complying with data protection regulations, but most importantly, it’s a huge red flag for crypto users, who tend to value their privacy very highly.

With Albus, user data stays private at all times. Albus uses encryption and Zero-Knowledge Proofs to prevent anyone but the user from accessing it, including your protocol and Albus itself.

At the same time, as required by AML regulations, Albus has a framework in place to make user data accessible to government authorities upon verified legitimate request.

How does Albus store private data of users?

These credentials are encrypted and securely stored on the blockchain as metadata associated with a Non-Fungible Token (NFT) owned by the user:

User control: users control their digital credentials and decide when and how to share them, without compromising their integrity or revealing private information. Users can also delete their credentials at any time.
Decentralized ownership: the NFT-based storage means that control over digital credentials is decentralized and rests solely with users. This mitigates risks associated with centralized data storage, where a single breach can compromise user data.
Encryption: the encryption of digital credentials ensures that the claims contained in them remain secure and unreadable to unauthorized entities.
Blockchain security: the inherent security features of blockchain technology, specifically immutability, add an additional layer of protection.

Retained user data is stored on the blockchain in encrypted form:

Encryption: the data is encrypted using Shamir's Secret Sharing. This cryptographic scheme splits the decryption key into multiple shares that are distributed to Trustees. The key can only be reconstructed from a threshold number of these shares upon a legitimate request from an authorised entity. This ensures that no single unauthorised entity has access to the entire dataset.
View-only access for users: users can view their retained data but cannot delete it, as required by data retention laws. This ensures that while users can access their retained data for viewing, Web3 businesses remain compliant with necessary data retention requirements.

What part of Albus’s functionality is already available?

The Albus Protocol is still under development. However, you can already try this functionality in the Albus MVP’s CLI (for details, see the Albus CLI page on the Albus wiki):

Issue VC
Create VP
Generate ZK Proof
Verify ZK Proof on-chain*
Verify ZK Proof off-chain
Create policies**

* Will become possible with the release of a stable 1.16.x version of the Solana Tool Suite on Mainnet Beta.
** Currently, two circuits are available for creating policies: 'agePolicy' and 'countryPolicy'.

What are your plans for the future?

We’ll be deploying new functionality in the coming months, as we continue to explore the cutting edge of this cryptographic discipline:

Integrate a threshold cryptography scheme
Implement a VC revocation process
Integrate Chainanalys and MobID
Integrate EVM blockchains

Alexander Ray

Founder and CEO

mFactory GmbH
Sihleggstrasse 23
8832 Wollerau
Schweiz

E-mail: info@albus.finance

Web: https://albus.finance

* Source: F6S.com, “10 Top DeFi Startups and Companies in Switzerland”