Consumers and organizations throughout the world have to manage large amounts of data and sensitive personal information. Most Internet users regularly work with a wide range of apps on a daily basis. Each of these apps requires users to provide personal information and can potentially compromise consumers’ personal data. However, there are solutions being developed to ensure that users’ data remains protected while allowing the owners of the data to have greater control over how their personal details are being used by third-party apps and platforms.
ShareRing Vault is described as a self-custodial feature residing inside the ShareRing app for all of users’ digital credentials. The Vault is available to users across the globe. They announced more enhancements to ShareRing Vault. It offers clients the opportunity to maintain complete control over their digital credentials. This is achieved by ensuring that sensitive data is stored only on users’ personal devices and isn’t accessible from any other storage medium.
Industry experts believe that the future of the Internet depends significantly on digital identity verification. In order to address these requirements, Vault is a suitable Web2/Web3 solution, which helps users take their first step towards guaranteed priority access to the future of the world wide web.
The ShareRing team explains that users’ credentials make up their unique digital identity and digital footprint, so true ownership and protection of user data is vital when navigating the digital world, which is full of malicious hackers and cybercriminals.
The team at ShareRing points out that credentials placed within the Vault are cryptographically secured and reside only on the users’ device. This security approach works well, as long as the user doesn’t actually share their password and/or seed-phrase with anyone else.
Assuming that these basic precautions are taken at all times, no one else would have the ability to access users’ accounts. In addition to these features, ShareRing Vault provides higher levels of privacy; so that users may choose to share information as needed, and make sure not to unnecessarily provide their personal details.
ShareRing’s developers also mentioned that you can carry your digital credentials inside the Vault, and have access to your documents whenever you need to review them. The Vault solution has been designed to make it seamless to filter and categorize our credentials. This approach helps with saving time while minimizing frustration when you really need your credentials.
ShareRing Vault is an innovation that benefits Web3 developers who are heavily involved in crypto and blockchain space. The Vault is suitable for consumers who understand the importance of self-custody as well as the need for privacy, particularly when managing one’s digital credentials.
The solution from ShareRing is also ideal for clients who aim to safeguard their digital identity but might not be too familiar with how privacy solutions actually work in a Web2/Web3 environment.
It’s also worth noting that the ShareRing Vault is useful for typical consumers who are looking for an easily accessible, self-custody storage solution for their digital assets and credentials that only they manage. This can be achieved without being concerned about your digital identity or Vault being compromised via a security/data breach.
As explained by its development team, ShareRing is a blockchain or distributed ledger technology (DLT)-powered platform, which enables the creation and use of self-sovereign verifiable credentials across Web2 and Web3-compatible platforms. With the rise of cybercrime and various fraudulent activities in an online environment, it has become critical for all users to be more careful while using Internet-based apps. ShareRing’s suite of products and services aim to provide greater protection for users who regularly navigate the Internet for completing work-related tasks or for their personal use.
