Czech firm Avast acquiring self-sovereign identity pioneer Evernym

Prague-headquartered Avast, a global leader in digital security and privacy, has announced the acquisition of Evernym, a US company instrumental to the invention of self-sovereign identity.

Evernym’s ground-breaking approach to digital identity provides consumers with autonomy over their online presence by keeping their personal information with them and out of centralized databases.

“Over 60% of the world's population has internet access today yet we don't have adequate provisions in place for these people to prove who they are online. The result is that identity theft, online fraud and account takeovers are growing rapidly, as does mass-scale digital tracking and surveillance,” Avast CEO Ondřej Vlček said.

“Our vision for digital freedom is to enable people to manage and retain control over their personal data so that they can interact and transact safely, privately and with confidence. Decentralized digital identities are a key component of that vision,” he said.

“Adding Evernym's ground-breaking self-sovereign identity technology to our offering enables us to address this area and is a huge step forward in the realization of a digital world where decentralized, portable identities are available universally and globally,” Vlček added.

Evernym is already embedded in industries such as travel and finance where its technology is at the heart of the IATA (International Air Transport Association) Travel Pass, and also powers Bonifi's 'MemberPass' solution for community financial institutions.

In a self-sovereign or decentralized identity model, the individual retains all of their data and chooses what data they consent to share in any transaction and who they share it with, removing the need for passwords, individual accounts, and other traditional tools which are vulnerable to being hacked, phished, and intercepted.