Building trust through verifiable data
Dock Labs is enabling more trustworthy connections between organizations and individuals through the exchange of portable, verifiable data.
A billion dollar problem
Identity verification (IDV) providers often operate in fragmented, siloed ways with no standardized approach to collecting and verifying customer identity information. Each IDV provider relies on different data sources, data matching logic, and entity resolution techniques, leading to varying — and sometimes conflicting — views of the identities they are trying to resolve.
This inconsistency creates significant challenges for businesses, who must piece together different responses from multiple IDV providers and attempt to make sense of the conflicting data.
In addition, every time a customer goes through an onboarding process with a different business, they face a completely different experience. They have to provide the same information again and repeatedly endure the same friction.
This disjointed approach frustrates both businesses and customers, while also complicating the management of customer identity data. The cost of this inefficiency is staggering — 25% of UK customer applications are abandoned due to KYC issues, leading to €5 billion in annual losses for businesses.
Our decentralized ID technology directly addresses these challenges.
By enabling IDV providers and IAM systems to issue verifiable credentials, our solution helps them verify the same person across multiple businesses and/or siloed systems.
These credentials confirm that a customer has already been verified, allowing businesses to only ask for missing information. Verifiable Credentials create a consistent view of the customer’s identity, reducing onboarding friction and streamlining the verification process.
Why now
As our identity becomes more digital, the demand for decentralized ID technology is growing.
KuppingerCole calls decentralized ID the biggest disruption in identity management in decades, and Gartner predicts that 500 million users will have Digital ID Wallets by 2026. With every EU state set to release Digital ID wallet apps that same year, the shift to decentralized solutions is accelerating.
Businesses that adopt these solutions now will not only meet growing regulatory demands but also unlock significant cost savings, improve customer experiences, and gain a competitive edge in the market.
Meet our Team
Nick has been working in the blockchain industry since 2011 and was the COO of one of the earliest companies working in the Blockchain space, MaidSafe. During that time, he managed the fastest crowdfund in history (at the time). He has a wealth of expertise in marketing, cryptocurrencies, distributed networks, and establishing collaborating initiatives for open-source communities.
Nick loves Star Wars, Thai food, and playing golf.
Elina has been a multi-time founder with a focus on operating and growing data-driven labor marketplaces. Elina previously founded and led the teams of Outsource.com which grew to several million dollars in annual revenue before merging with another organization. She also founded one of the fastest-growing remote work platforms in the world, Remote.com.
When she is not working, she likes to travel and cook.
Advisors and council members
