Many in the ICON community have asked about the timing of ICONLOOP’s MyID launch.
We touched base with Henry Lee, Head of Strategy at ICONLOOP, this week who provided an update:
The MyID app is in beta and the next important milestone will be integration with our banking partners over the next couple months
As a reminder, the banking partners in the MyID Alliance act as the issuers of the MyID verifiable claims. So integration into these banks is critical to the success of the MyID identity product. In simple terms, Banks are the issuers of the KYC’d digital identities through ICONLOOP’s MyID product.
Below shows the flow of the MyID product.