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Authlete Introduces Support for OpenID for Verifiable Credential Issuance with Authlete 3.0

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Authlete’s OID4VCI support empowers organizations to revolutionize digital identity management

TOKYO, Nov. 6, 2024 /PRNewswire/ — Authlete, a leading implementer of OAuth 2.0 and OpenID Connect (OIDC), announced today the launch of Authlete 3.0, offering support for OpenID for Verifiable Credential Issuance (OID4VCI). This new capability empowers organizations—including governments, financial institutions, and educational establishments—to revolutionize how they issue and manage user credentials.

With the introduction of Authlete 3.0, Authlete now offers a simple API solution for quickly issuing interoperable verifiable credentials (VCs) conformant with OID4VCI. Built on OAuth and OIDC—proven and widely used global standards for authentication and authorization—OID4VCI supports various credential formats, including SD-JWT VC and mdoc/mDL.

VCs are tamper-evident digital credentials whose authorship can be cryptographically verified. This digital proof mechanism makes VCs more secure, verifiable, trustworthy, and portable compared to physical documents or cards. Furthermore, VCs allow holders to selectively disclose only necessary information and eliminate the need to carry physical credentials, enhancing flexibility and user-centricity.

“We are dedicated to empowering organizations to build secure, user-centric, and interoperable digital identity infrastructures, while contributing to the development of a globally interoperable digital identity ecosystem,” said Authlete Co-founder Takahiko Kawasaki.

Authlete’s OID4VCI support for SD-JWT VC and mdoc/mDL formats has already proven effective through multiple global pilot projects, including EU Digital Identity (EUDI) Wallet’s Potential project, Japan’s Trusted Web initiative, and the Global Assured Identity Network Technical Proof of Concept (GAIN POC).

Japan’s Trusted Web initiative aims to build a new framework of trust that enhances data control for individuals and organizations and establishes mechanisms for data verification without excessive dependence on specific services. In a Trusted Web pilot project aimed at improving the efficiency of Know Your Business (KYB)/Know Your Customer (KYC) processes for opening corporate bank accounts through reusable KYB/KYC and digital verification, Authlete successfully issued SD-JWT VCs to a digital wallet developed by DENTSU SOKEN.

“To develop and validate a prototype aligned with Japan’s legal frameworks and practices, it was essential to accurately map required information, such as ‘proof of corporate existence,’ from actual practices into the VC and to issue it according to interoperable open standards,” said Yasuo Higa, DENTSU SOKEN’s Chief Architect, who led the KYB/KYC pilot project. “Authlete’s high degree of customization and compliance with OID4VCI allowed us to achieve this and create a prototype ready for deployment.”

In the GAIN POC, which aims to create a globally interoperable network for high-trust identity assurance, Authlete successfully issued OID4VCI-conformant SD-JWT VCs to digital wallets provided by Talao, Meeco, and Datev.

“Together with Authlete, we demonstrated how we can achieve seamless interoperability, paving the way for a secure and interoperable digital identity ecosystem,” said Talao’s Co-founder and CEO Thierry Thevenet. “Authlete’s expertise in OpenID protocols has been crucial in achieving this milestone, and we look forward to continuing our collaboration.”

Potential use cases for VCs are wide-ranging from government-issued identity documents like passports and driver’s licenses to reusable KYC verifications for banking to academic certifications.

The advantages of VCs and the evolving ecosystem surrounding their issuance are explored in KuppingerCole’s white paper titled “Guidance on Implementing Verifiable Credential Issuance,” commissioned by Authlete.

In addition to support for OID4VCI, Authlete 3.0 offers the following features and benefits:

Enhanced FAPI compliance settings: Configure FAPI compliance levels with granularity, including FAPI 2.0 Message Signing to enable non-repudiation.Multi-tenant organization management: Set up multiple organizations and services within a single, intuitive management console.Multi-region support: Select server locations in the US, Japan, Brazil or the European Union directly from the dashboard.Social logins and multi-factor authentication (MFA): Login with Google or GitHub credentials with MFA for added convenience and security.Granular access control: Ensure compliance by aligning permissions with each team member’s specific access level.

Learn more about Authlete 3.0 and sign up for a 30-day free trial at www.authlete.com/developers/getting_started/.

About Authlete:

Authlete provides a security component service that simplifies the implementation of authorization servers based on OAuth 2.0 and OpenID Connect, supporting high security profiles such as FAPI 1.0 and FAPI 2.0. Developed by standards experts, Authlete’s solution complies with globally recognized regulatory frameworks for Open Banking and Open Finance, including the Australian Consumer Data Right, KSA Open Banking, Open Finance Brazil, and UK Open Banking. Discover more at www.authlete.com and connect with us on X at @authlete or LinkedIn at www.linkedin.com/company/authlete/.

 

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SOURCE Authlete

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AIXI Investors Have Opportunity to Lead Xiao-I Corporation Securities Fraud Lawsuit

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BENSALEM, Pa., Nov. 27, 2024 /PRNewswire/ –Law Offices of Howard G. Smith announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against Xiao-I Corporation (“Xiao-I” or the “Company”) (NASDAQ: AIXI).

Class Period: March 9, 2023July 12, 2024

Lead Plaintiff Deadline: December 16, 2024

Investors suffering losses on their Xiao-I investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 215-638-4847 or by email to howardsmith@howardsmithlaw.com.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Defendants had downplayed the true scope and severity of risks that Xiao-I faced due to certain of its Chinese shareholders’ non-compliance with Circular 37 Registration, including the Company’s inability to use Offering proceeds for intended business purposes; (2) Xiao-I failed to comply with GAAP in preparing its financial statements; (3) Defendants overstated Xiao-I’s efforts to remediate material weaknesses in the Company’s financial controls; (4) Xiao-I was forced to incur significant R&D expenses to effectively compete in the AI industry; (5) Xiao-I downplayed the significant negative impact that such expenses would have on the Company’s business and financial results; (6) accordingly, Xiao-I overstated its AI capabilities, R&D resources, and overall ability to compete in the AI market; (7) as a result of all the foregoing, there was a substantial likelihood that Xiao-I would fail to comply with the NASDAQ’s Minimum Bid Price Requirement; and (8) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

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SOURCE Law Offices of Howard G. Smith

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WorkFar Robotics Mass Produces Humanoid Robots without Venture Capital

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As robotics investing climbs out of its 2023 slump, humanoid robotics pioneer WorkFar — which has not received any funding from venture capital — is ready to produce at the level of competitors already receiving billions of investment dollars.

SANTA CLARA, Calif., Nov. 27, 2024 /PRNewswire/ — There’s nothing quite like the tenacity of a new company with a unique value proposition that directly addresses the needs of its target customer base. WorkFar Robotics, a business specializing in commercial humanoid service robots for industrial applications, has yet to get on the radar of today’s venture capitalists — but that hasn’t stopped them from reaching the mass-producing stage.

Many companies, particularly those in the robotics industry, are reliant on venture capital, and they can go for years — or even a decade — without turning a profit. Building a cash-flowing robotics company with no investment aside from hard work, creativity, and business acumen is a feat rarely accomplished. Yet WorkFar has managed to achieve the same level of progress as competitors receiving $100 million to over $1 billion in investment funding.

WorkFar’s Business Model: An Autonomous, Remote-operatable Robot for $0 down

WorkFar’s offering is unique in the world of industrial robotics. The industry’s most common business model is to sell an expensive product to a manufacturer and possibly provide some integration services. For companies unable to afford the high price tag, certain robotics manufacturers offer a subscription-based “Robot-as-a-Service.” WorkFar takes this a step further by allowing clients to lease both a robot and a trained, remote operator on a monthly basis without a down payment.

The combination of sophisticated humanoid robot, AI-enhanced programming, and an optional human operator constitutes a turnkey solution for warehouses and manufacturers dealing with aggravating challenges like long-lasting labor shortages, concerns around worker safety and burnout, and issues with efficiency and consistency. Since the optional teleoperator is remote-based, WorkFar can leverage the global workforce to support its customers.

The WorkFar “Syntro” robot uses virtual reality eye tracking and AI algorithms to target and grasp objects at the operator’s direction, and the operator gets feedback on object pick-up through haptic gloves. The robot’s “core logic” is human intelligence, which — despite rapid advances in AI — still can’t be beat.

WorkFar’s Manufacturing Expertise goes back Decades

Although the ‘Syntro’ robot is brand-new, WorkFar’s US based manufacturing facility has over 40 years of experience producing plastic and metal parts for industrial machinery and consumer products. This expertise is now being leveraged to mass produce humanoid robot in-house — an arrangement that cuts out the middleman and leads to more efficient operations. With supply chain issues wreaking havoc on robotics companies’ operations for the past several years, this is a major advantage.

Robotics Investing dipped in 2023, but it’s Coming Back strong with AI and Humanoid Technology

Investment in the robotics industry hit a five-year low last year, particularly in the area of autonomous vehicles (AVs). This was partially a result of a widespread market correction within venture capital investing, but the legislative concerns and negative press surrounding AVs didn’t help. The slump was temporary, however, and robotics venture capital is starting to rise again rapidly, with vertical-specific robotics companies focusing on logistics, security, and medical applications leading the way.

One thing that’s making robotics investing much more appealing is the awe-inspiring takeoff in artificial intelligence capabilities. AI models give robots the capacity to execute complex tasks like grasping unpredictably shaped objects much more smoothly and accurately. Even better, AI allows the robots to learn from each effort, rapidly increasing their accuracy and efficiency over time. Robot vision will gain clarity with improved object detection and image segmentation — essential tools for interacting “intuitively” with the environment.

With a design meant to evoke their maker, humanoid robots are poised to reap the greatest benefits from this rapid growth in AI. They show promise across multiple industries, ranging from manufacturing to healthcare to personal assistance. Once AI’s transformative capabilities became apparent, projections for the humanoid robot market ten years from now shot up from just $6 billion to almost $200 billion — or in some estimates, well over $24 trillion.

Sheer Business Acumen has propelled WorkFar to the point of Mass Production

Although the robotics investment outlook is getting brighter, the recent dip has prompted investors to be more discerning and focus on areas where robotic solutions can make important strides right now. Venture capitalists have seen plenty of technology demos that turn heads; now it’s time to back these up with solid business plans that show real returns on investment. With its robot-as-a-service offering at $0 down payment, this is WorkFar’s strong suit.

Even with rapid AI advances, this model will always benefit from the authority and decision-making power of human intelligence. This is central to WorkFar’s vision: a human-robot team that will unleash a new era of productivity, bringing collaborative efficiency to factories and facilities worldwide. This innovative solution takes into account what other solutions overlook: the fact that true productivity depends on human decision-making and robotic efficiency being intertwined, not isolated.

This vision is what has enabled WorkFar to grow on its own revenue in an industry that usually requires millions or even billions of dollars in venture capital. No longer a startup, this company has now pushed into a higher corporate level of investment based on business acumen alone. With a market-ready product that can be manufactured in WorkFar’s own factory, the humanoid robotics pioneer is stronger because it does not rely on venture capital. 

To inquire, contact us via www.WorkFar.com now!

Contact: info@workfar.com

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SOURCE WorkFar Inc

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ASML Investors Have Opportunity to Lead ASML Holding N.V. Securities Fraud Lawsuit

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LOS ANGELES, Nov. 27, 2024 /PRNewswire/ — The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against ASML Holding N.V. (“ASML” or the “Company”) (NASDAQ: ASML).

Class Period: January 24, 2024October 15, 2024

Lead Plaintiff Deadline: January 13, 2025

If you are a shareholder who suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the issues being faced by suppliers, like ASML, in the semiconductor industry were much more severe than Defendants had indicated to investors; (2) the pace of recovery of sales in the semiconductor industry was much slower than Defendants had publicly acknowledged; (3) Defendants had created the false impression that they possessed reliable information pertaining to customer demand and anticipated growth, while also downplaying risk from macroeconomic and industry fluctuations, as well as stronger regulations restricting the export of semiconductor technology, including the products that ASML sells; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.  If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.  If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com

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SOURCE The Law Offices of Frank R. Cruz, Los Angeles

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