The proposed service called “MY Identity System” including a Digital Wallet “MY ID App”, is based on world class technology and the SSI (self-sovereign identity) principles that is the future-proof digital ID infrastructure delivering both efficiency and security, sovereignty, and privacy altogether. The SSI technology will ensure the sustainability of the infrastructure and create the necessary trust and efficiency allowing every citizen to prove their identity and their credentials or attributes everywhere with a secure Digital Wallet. Protectoria will offer to adapt the technology and the ID services to the client’s needs and design the digital ecosystem with the client in interactive pre-operation phase, before operating the ID infrastructure on long term contracts.

The digital ID platform is truly decentralised and will always be interoperable and aligned with the running standards as published by the Worldwide Web 3 Consortium involving Decentralised Identifiers (DID), Verifiable Credentials (VC) and with the European Blockchain Service Infrastructure and EU laws such as eIDAS2.

Protectoria proposes a portable digital ID infrastructure service delivered on mobile devices that gives the citizen the possibility to prove his identity and his attributes everywhere (“ID in his pocket”.) The core functionalities are identification as well with authentication and signing services and adapted to specific use cases, defined as National ID, Citizen ID, Health ID, Corporate ID, Industrial ID and Association ID.  

Because the decentralised architecture ensures citizens control of their own data, and because our ID is user-friendly, totally secure and portable, we expect massive acceptance by the users. The combination of this and interoperability creates efficiency, save costs, helps user control and accelerate growth, competition and accountability, leading to rapid digital transformation.

Protectoria will offer the following conceptualised decentralised IDs that will be adapted to clients’ preferences, and they would all be interoperable.

The National ID would be offered as a generic sector independent ID service, involving all parts of the economy and would demand governmental decisions to implement laws and framework conditions adapted to the local environment, but with similar features to the EU legislation. This ID would be the fundament of a digital economy for secured transactions and will have numerous applications, extending from identification, authentication allowing payments, legal transactions, voting, tax interactions and provisioning of attributes and benefits. The level of assurance will be defined as high. 

The Citizen ID will handle all digital interaction between a City and its citizens and firms allowing secure transactions, access to information and provisioning of benefits and public services, certificate and tax related interactions. The Citizen ID will be interoperable with the National ID.

The Health ID will provide an integrated digital Health ecosystem for access to health services, sharing of patient data and provisioning of health certificates and prescriptions including payment services. The Health ID will ensure that patient data are protected and create a trusted infrastructure to allow full digitalisation of health services.

The Corporate ID is designed to allow firms to handle with trust and efficiency communication, rights, benefits and legal interactions with customers, employees, suppliers and partners and be immediately compliant with privacy protection laws. This  ID would be independent of and enhance the value of IT assets by allowing a more secure and portable use.  

The Industrial ID is designed to adapt to industry specific needs creating digital ecosystems around the core identity service that are efficient, whether in logistics, finance, service or legal industry. These ID services will also involve providing IDs to objects, in artificial intelligence and to production assets for industrial and commercial purposes.

The Association ID is designed to allow a civil society institution to handle membership, benefits of membership, voting and secure communication in a secure, trusted and efficient process.

With these innovative ID services combined with our world class technology ID infrastructure based on flexible and open-source components that allows to incorporate best technologies available, we will be able to adapt and offer to multiple clients needs. Protectoria will be able to use the client’s core data registers, extract them into the decentralised ID infrastructure, and to integrate with and expand the use of the existing IT assets. Client contract will involve further investments in business application to adapt the generic platform to clients’ needs and assurance level.

Benefits for society and for firms

Protectoria believes – together with several institutions like the World Bank, the Asian Development Bank, the World Economic Forum that the benefits for society, citizens and firms would be significant. The expanded use of such digital ID infrastructure will reduce cybercrime, facilitate digital transformation, and by creating trust, deliver interoperability, efficiency, and financial inclusion. The secure and trusted feature combined with ease of use and portability will ensure its adoption and the release of significant cost benefits to society.

Protectoria believes PV IDaaS is the digital identity architecture for the next decades fully interoperable with the SSI principles and expects strong market growth near term and long term. With the early mover advantage of a ready to be deployed operable decentralised ID platform, a differentiated business model and a strong team with a clear strategy, we ambition to demonstrate sales, ability to execute and take a leading position in the coming digital ID revolution away from centralised digital ID registers.

The initiation of sales will be offered through close interaction with clients, and supply partners to assess need and build business applications to deliver on the clients’ needs, following further investments. Our focus will be primarily in the ASEAN and execute on sales together with reselling partners and suppliers. Protectoria ambitions to take a leading role in the digital identity revolution and focus currently on sales in the ASEAN region.

More information:

Erik Storelv, CEO (PGI), COO and CFO; erik.storelv@protectoria
Cell phone: +47 465 52 22 00

Trond Lemberg, CEO; trond.lemberg@protectoria
Cell phone: + 47 414 87 310

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A case study by Protectoria tells that by improving the HIGH to VERY HIGH cyber risk exposure to LOW and MODERATE cyber exposure of the overall public debt credit rating can be directly converted to lower interest payments and therefore improve public budgets. 

The study suggests that some government projects just 6 months after full enrollment towards a safe digital transformation infrastructure can be self-financed, and thereafter highly profitable by significantly improving the public debt interest rate by lowering the cyber risk exposure.

Improvements above this level might be pure profits on public budgets which is a necessity in times where increasing global debt interest rates are stressing all governments, especially those in low income and emerging markets.

Ref: https://www.bitsight.com/blog/moodys-22-trillion-debt-has-significant-cyber-risk-exposure

The credit rating bureau Moody’s published in 2022 a research report telling that 28% of their 80 trillion USD credit rating portfolio, equal to 22 trillion USD of debt has a HIGH to VERY HIGH cyber risk exposure.

Because Moody’s represents 1/3 of the total rating of approx. 249 trillion of debt (including S&P and Finch ratings), the actual worldwide cyber exposure of debt is closer to 70 trillion USD or 67% of the global GDP of 105 trillion USD, according to World bank.

Compared with the global GDP of 105 trillion USD, we conclude that the 70-to-105 weight of cyber risk exposure becomes a more and more significant impact factor on credit ratings. 

Consequently, lending costs increase the more the emerging (and systemic) cyber risks increase, risk controls become exhausted and cyber insurance becomes obsolete for most of the customers worldwide, but especially in low income and emerging markets. The real cost of cybercrime worldwide will reach 8.15 trillion USD in 2023, which underpins the emergency situation.

There are nowhere to hide anymore, but to fix the problem by building a strong security foundation of the digital transformation, that so far in the business world has suffered from having real economic incentives aligned with security quality, sufficiently mitigating the systemic risks of cybercrime.

But if cyber risks are managed well, as suggested through the Protectoria innovative ID-as-a-Service and risk management model, see below, better credit rating reduces lending costs and will pave the way for a direct correlation between investments in high security quality and profitability. 

Protectoria suggest that governments, especially those in low income and emerging markets, will have an all-time high opportunity to improve public finances and profitability reducing their cyber exposure as part of their credit rating.

A case study tells that by improving the HIGH to VERY HIGH cyber risk exposure to LOW and MODERATE cyber exposure of the overall debt credit rating can be converted to lower interest payments.

The math is simple. By investing in the right decentralized cyber resilience services, starting with implementing the digital identity layer of public and private sector services, a safe and less risky transition to the digital economy comes with a surprisingly large benefit:

Some government projects will just 6 months after full enrollment be self-financed with as little as 9 basis points, and thereafter become highly profitable by significantly improving the public debt interest rate through improved credit rating through better cyber resiliense and lesser exposure to cybercrime.

In addition comes all the other financial and structural benefits of secure digital transformation.

For more information, on what, how and why this is possible, please download our Protectoria Venture Business Whitepaper version 1-1 here:

https://protectoria.com/2023/09/05/protectoria-whitepaper-protectoria-is-proposing-a-digital-identity-revolution-alined-with-the-visions-of-web3-0/

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To Protectoria Venture´s business partners, to politicians, to private and public entities, and to those that worry about the mounting risks of cybercrime and the lack of privacy protection in the current state of the internet, we propose this whitepaper.

We discuss here what went systematically wrong under the Web2.0 centralized security and risk management models that do not have an identity layer. 

Author, founder, 
and CEO Trond Lemberg

Download the whitepaper here and share with us comments and ideas on 
info@protectoria.com

For more information, 
please visit: www.protectoria.com

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Protectoria AS, Norway,  https://protectoria.com/, has together with its local partner PT Gimle Investment Group, on the 3rd of May 2023, signed an exclusive agreement with PT INTI (Persero) https://www.inti.co.id/, a state-owned enterprise engaged in telecommunication equipment and systems, to propose decentralised digital identity infrastructure services for public entities, companies and citizens in Indonesia. 

This means Protectoria Venture enters the large and growing Indonesian market for digital identity services with strong partners, targeting the delivery of decentralised digital identity services for the whole country, responding to national authorities’ requests for a more secure and trusted digital infrastructure, allowing for a larger financial inclusion.  

The Parties to this agreement believe this decentralised digital identity infrastructure will be the preferred choices of modern societies, as there are significant benefits for all types of users of such a digital infrastructure.

-Private sector services:

Simplified, compliant with personal data protection laws and cost-effective scaling of services in its interaction with customers, suppliers and public entities.

-Public sector: 

Interoperable and secure infrastructure for sustainable national digital sovereignty respecting privacy protection.

-The population and society: 

User-friendly password free authentication that allows citizens to claim identity related credentials through a secure Identity wallet that gives all citizens autonomy over their own sensitive data while giving them easy access to all types of digital services in society. 

This decentralised digital infrastructure, emerging as the backbone of the digital economy, will accelerate innovation, strengthen competition, and improve consumer protection to the benefit of society. 

The Agreement

The companies commit to cooperate exclusively to design, build and operate a digital decentralised identity infrastructure provided as a generic service that can be operated neutrally towards any vertical service provider from any sector, industry or use case. 

Protectoria Venture will provide the decentralised digital identity services based on an architecture using Self Sovereign Identity (SSI) and blockchain technology; and provided as a cloud-based service (IDaaS). Gimle Investment Group will provide services related to government relations, business development, planning and project implementation. PT INTI will engage with government entities and act as a Trusted-Service-Provider towards any private and public application service provider and end user under the new Privacy law (PDP of September 2022)

The attractiveness of the Indonesia market

The Indonesian digital economy is the largest amongst the ASEAN countries, representing 36% of the GDP of the region and showing remarkable growth. The strength of the digital economy is coming from its high pace of internet penetration and large young population. According to the IMF, Indonesia´s digital economy will grow eightfold from 2017 to 2025. 

However, the digital transformation in the country is not without challenges and risks such as cybercrime, financial fraud, and socio-economic exclusion of a large part of the population.

Following years of insecure national digital infrastructure, with hacking of personal data, political initiatives have accelerated to propose and operate a national digital identity infrastructure with a decentralised architecture, coupled to a legislation that is protecting privacy, inspired by best international standards regarding data protection regulation.

The Parties to this agreement believe that to handle the digital transformation challenges Indonesia are facing, and to take the full advantages of the digital economy and the 4th industrial revolution, a decentralised digital identity infrastructure service, is necessary. 

Comment from INTI 

Dr. Edi Witjara, President Director of PT INTI (Persero), has the following comment to the agreement. 

“We are very ambitious with our intentions to assist the President and the government with providing the country with a digital infrastructure that can effectively secure transactions, protect privacy and facilitate the digital transformation of Indonesian society.

Indonesia must become a competitive and innovative economy acting effectively on the domestic, regional and international markets, while protecting privacy and digital transactions through decentralised technical architecture. We ambition to scale towards any use case no matter market, allowing for financial inclusion and reduction of poverty “, says Edi Witjara

“We are very satisfied with the partners selected and believe they will assist us in the provisioning of world class identity technology and services, aligned with the requests of the Indonesian government and people, and aligned with international institutions’ visions of ideal digital identity infrastructure. We will propose world class technology enabling the implementation of an efficient, interoperable, and secure infrastructure that will allow citizens, private, public and civil organisations to act in a secure and sovereign manner in the society”, adds Edi Witjara

Comment from Protectoria Venture / Gimle Investment Group

Trond Lemberg, CEO of Protectoria Venture, comments on the signed agreement by stating: 

“This contract will allow us to implement our vision to “empower people to become sovereign citizens” in the largest economy in the ASEAN regions thanks to the goals and the commitment of PT INTI (Persero), for providing what national authorities need to deliver on their vision of digital transformation. The contract is a testimony of the right positioning of our business proposal, combining experience from the Scandinavian digitised societies, the vision of leading international institutions and our decentralised identity services. The ambition will be to propose a generic nationwide rollout of the end-to-end digital identity services, sector neutral, based on the Protectoria’s core offering – our digital identity security infrastructure – called “MY IDentity Services”. We are totally committed to these opportunities and will seek to engage local and international consortium partners in the delivery on the demand. We see multiple applications of our interoperable digital identity services in Indonesia, in the Philippines and across the ASEAN region in accordance with the ASEAN Digital Masterplan 2025, ref: https://asean.org/book/asean-digital-masterplan-2025/, where full functionality digital identities on an ASEAN-wide basis is a defined goal within 2025”.

Per Fredrik Ecker, CEO of Gimle Investment Group, is stating:

“Moving towards a global marketplace we believe that strong cross border alliances must be created, and we are pleased to see that this agreement is a step in the right direction to connect the latest world class identity technology and services from Protectoria Venture, with a local strong player like PT INTI (Persero).

We can also now see that secure technical solutions are available in the global market and moving forward with strong partners that can and will make a difference to create the changes that are needed both for domestic regulations and migration to a more secure future for the citizens.

This has the possibility to bring Indonesia into the forefront of this development by utilising years of regulatory framework development from Europe and latest state of the art technology. This combined with a strong local state-owned partner that will act as a trusted partner, will benefit, and secure all stakeholders in this fast-growing digital society,” says Per Fredrik Ecker.

About Protectoria AS / Gimle Investment Group

is a Norwegian company with offices in Oslo, Berlin and Manila that develops and operates a secure cloud infrastructure, managing digital identities as a service, called “MY IDentity Services”. The infrastructure is based on a decentralised architecture using SSI (Self Sovereign Identity) and blockchain technology and integrates mobile front-end technologies for securing transactions. 

Protectoria Venture has a vision to “empower people to become sovereign citizens”. 

The firm seeks partnerships and joint-ventures with industry-leading players, state-owned enterprises and investors with interests in high-end transaction security projects, to ensure strong global growth in the coming years.

Digital identities are the backbone of digital transactions. Significant market growth is expected for decentralised digital infrastructure services based on Self-Sovereign Identity (SSI) and blockchain technologies. Protectoria Venture aims to benefit from a first mover advantage to take a leading position in the fast-growing target markets internationally, all from emerging markets in ASEAN to the realisation of the Pan-European digital ID based on decentralised digital identity infrastructures.

Gimle Investment Group is Protectoria Venture´s local partner for Indonesia. 

About PT INTI (Persero)

PT INTI (Persero), is one of the state-owned enterprises in strategic industries, and was officially established on December 30, 1974. The Company headquartered in Jalan Moch Toha No. 77 Bandung has a portfolio in the fields of Manufacture, System Integrator, and Digital. To support its business, PT INTI (Persero) also operates an eight hectares production facility on Jalan Moch Toha No 225 which produces telecommunications and electronic devices. The Firm has been selected as a strategic trusted adviser to the central government of proposing technology and services to assist national authorities in implementing necessary cybersecurity services and technologies, and sustainable digital identity infrastructure services to support and secure the digital economy, national interests, and civil society.

More information: 

Trond Lemberg, President: trond.lemberg@protectoria.com
Cell phone: + 47 414 87 310

Erik Storelv, Board Member: erik.storelv@protectoria.com
Cell phone: +47 46 52 22 00

Per Fredrick Ecker, CEO, PT Gimle Investment Group: per@gimleinvestment.com
Cell phone: +62 811 8603456

Edi Witjara, President Director of PT INTI (Persero): info@inti.co.id
Phone: (+62-22) 5201501

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PROTECTORIA GENIAL IDENTITY, INC, the fully owned subsidiary of Protectoria Venture, a Norwegian technology company offering decentralised digital identity services, has entered into a partnership and operating agreement with SMS GLOBAL to assist in the operation of these services for local government units in the Philippines. SMS GLOBAL, with Norwegian owner, has currently extensive operation of cloud-based communication and IT services to the Maritime industry. The cooperation between two Norwegian companies allows them to offer and operate the best available European decentralised digital identity technology to the Philippines.

Protectoria Genial Identity Inc. has agreed with Quezon City LGU, to provide a decentralised digital identity service for senior citizens through a mobile wallet that is efficient, portable, user-friendly and secure. The service is based on the best available decentralised technology (self-sovereign identity) aligned with the European Union’s vision for their own citizens, and could easily be expanded to a general citizen ID.

The delivered  Senior Citizen ID service ensures that each senior citizen can claim benefits provided by the laws, including discounts in purchasing services and items through a mobile wallet. The claim and the transaction that is registered in second will replace all manual processes today.

SMS Global will through this agreement provide to PGI necessary operating services like managing cloud operations, maintain and develop application services, provide frontline customer support allowing PGI to be operational very quickly and to expand the service to other LGUs.  SMS Global offers end-to-end maritime and enterprise communication solutions for leisure, fishing, merchant and passenger vessels, oil rigs and basecamps/remote lodges and is currently operating advanced cloud-based communications service with customer care services and application developments.

PGI, is through its parent company, Protectoria AS’ high-end security software solution and decentralised digital identity services, is one of the few providers in the Philippine market with the financial and technical capability to deliver secure transaction solutions that complies with all current and relevant European Union (EU) Security Standards, which are necessary to develop reliable, strong, and secure digital transaction platform and protect users from fraud and manipulation of information and transactions;

Currently, Quezon City is home to more than 300,000 elderly and senior citizens. Every LGU has an obligation to provide benefits to senior citizens as provided by Philippine law (ACT 9994).  The LGU are handling these discounts today by providing plastic cards with significant costs and fraud.

The service provided by PGI will ensure that senior citizens benefit 24/7 from a digital service allowing an identification, authentication and signing in seconds, vs. the estimated 3-5 min. currently in manual and semi manual handling. The secure digital infrastructure behind ensures true identification, mitigated fraud and legal signing of the transaction in the same process. There are significant advantages of this end-to-end digital service for the citizens, the merchants and the LGU.

Trond Lemberg, CEO of Protectoria Venture says in a comment: “I´m very excited by this fruitful partnership with SMS Global. It allows us to secure the benefit of SMS GLOBAL’s skills and experience in operating cloud-based services and customer centres, and to be operative with large scale operations in a very short period of time as SMS Global has similar operations today. In addition, we have a common understanding of the potential of decentralised digital identity services in the Philippines, as our secure, efficient and user-friendly digital identity services can potentially supplement the national ID register and potentially provide a user-friendly, secure interoperable mobile use of digital identities used in the Philippines. Through this agreement, we create the basis of a strategic partnership that will lead us to new business opportunities. We also appreciate that SMS GLOBAL is managed with a Norwegian approach reducing the risks of cooperation”.

Jan André Heggem, the CEO of SMS Global, states that: “The business model with cloud-based digital identity services of Protectoria Venture suits us well, and we are happy to be able to join forces with Protectoria Venture to offer such services to the LGUs in the Philippines. This partnership will allow us to grow the scope of our information technology services into new markets. Our firms were able to explore the common interests through the Philippine Norwegian Business Council (PNBC) and I see this agreement as a testimony of the importance of PNBC.”

SMS GLOBAL provides technology and communication services with end-to-end solutions covering both communications and business operations in the maritime and enterprise satellite communications markets. In providing these services, SMS Global is operating cloud operations and teams of IT engineers with a broad skill set ensuring application developments.

Protectoria Genial Identity Inc. (PGI) is a duly registered corporation with the Securities and Exchange Commission (SEC) in the Philippines with an initial authorised capital of PhP300M or about USD6M. As an Information and Software Technology company, PGI aims to provide cloud-based decentralised digital identity infrastructure services allowing digitalization of services to various sectors of society potentially replacing manual identity cards in the society..

About Protectoria AS,

Protectoria AS is a Norwegian company with offices in Oslo and Berlin which develops and operates secure cloud based services for issuing and verifying decentralised digital identities, the My IDentities Services. Together with its local partners Protectoria Venture creates sustainable business models empowering local governmental services, cooperatives, small businesses and their citizen-customers to become sovereigns in the age of digitalization.Digital identities are the backbone of digital transactions. Significant market growth is expected for decentralised digital infrastructure services based on Self-Sovereign Identity (SSI) and blockchain technologies. Protectoria Venture aims to benefit from a first mover advantage to take a leading position in the fast growing target markets internationally, all from emerging markets in ASEAN to the realisation of the Pan-European digital ID based on decentralised digital identity infrastructures.

More information: 

Trond Lemberg, President: trond.lemberg@protectoria.com

Mobile phone: + 47 414 87 310

Erik Storelv, Board Member: erik.storelv@protectoria.com

Mobile phone: +47 46 52 22 00

Jan André Heggem, CEO: andreheggem@smsglobal.net

Mobile phone: +63 917 808 3528

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The methodology applied to the candidate selection was based on nominations provided by the magazine’s subscribers and a subsequent assessment by the publication’s in-house research team. The final decision was taken by an evaluation panel with editors and external consultants or clients.  

According to the publication, “the secure display technology and the mobile wallet together with the decentralized digital identity architecture provide solutions to pressing cybersecurity problems with digital identities”.  

What was also emphasized by the experts while evaluating the Protectoria solution, was that “Protectoria Venture can effectively protect any type of digital transaction”. The highest level of protection is enabled by the Protectoria My IDentity System, including the Secure Display mechanism and the decentralized digital identity technology platform based on Self-Sovereign Identity technology with security by design. 

Protectoria Venture technology was developed in Europe and it is aligned with EU standards of digital identity. At the same time, it  addresses the needs of the fast-paced ASEAN market. 

The Protectoria contract to operate a decentralized digital infrastructure for Quezon City in the Philippines is one of the first implementations of Self-Sovereign-Identity-based digital ID services in the ASEAN region. It will be delivered as an end-to-end digital infrastructure with a user-friendly cloud-based ‘custodian’ service. It provides numerous benefits to all stakeholders, such as interoperability, security, privacy and reliability. 

According to Trond Lemberg, the CEO of Protectoria Venture,  “Protectoria Venture is well positioned, with operations of secure digital identity services expected in 2024 to seize market growth when regulation is clarified and the industry consolidates under a technology choice”. 

Mr Lemberg expects the digital identity technology of choice to be the Self Sovereign Identity framework. Accordingly, the Protectoria management decided on a technology roadmap that will allow a positioning to seize market segments in Europe within the next few years. 

Mr Lemberg also states that “(Protectoria) intends to offer generic and customized digital identity services to assist Member States in their efforts to efficiently deliver the security quality on the level of Assurance Substantial to e.g. service citizens from 3rd countries outside EU/EEA.”. This opens the way to further growth. 

In this context, the nomination by the Enterprise Security Magazine can be seen as a recognition of the breadth of the Protectoria digital identity service offering and the company’s position in the fast growing market.  

See more:

https://digital-identity-europe.enterprisesecuritymag.com/vendors/top-digital-identity-solutions-companies-in-europe-2022.html

About Protectoria AS 

Protectoria AS is a Norwegian company with offices in Oslo and Berlin which develops and operates secure cloud based services for issuing and verifying decentralized digital identities, the My IDentities Services. Together with its local partners Protectoria Venture creates sustainable business models empowering local governmental services, cooperatives, small businesses and their citizen-customers to become sovereigns in the age of digitalization.

More information: 

Trond Lemberg, President: trond.lemberg@protectoria.com

Mobile phone: + 47 414 87 310

Erik Storelv, Board Member: erik.storelv@protectoria.com

Mobile phone: +47 46 52 22 00

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Trond Lemberg, founder of Protectoria AS, Norway, created Protectoria Global Inc. in 2018 with the aim to define new business opportunities especially in the ASEAN markets based on the secure infrastructure of Protectoria Venture. 

Trond has now taken over as the President of Protectoria Global Inc., while the former leader of Protectoria Global Inc., Atty Pierre Martin D. Reyes has taken the position of Corporate Secretary and acts as part of the legal counsel. The change was effective from the 23rd of June 2022.

Trond has 30 years of experience in public key infrastructure, banking technology and information security technology and it is his ambition to develop innovations that enable public services to become more effective and more user-friendly for citizens and businesses.

About Protectoria Global Inc. 

Protectoria Global Incorporated, (PGI) is a Philippine company with offices in Manila, 100% owned by Protectoria AS (PV) which aims to benefit from a first mover advantage to to take a leading position in the fast growing market for decentralized digital identities. 

PGI aims at a market leading position for these services in the Philippines. PGI has secured the exclusivity to resell Protectoria Venture’s My IDentity Services for the Philippines, which is the underlying infrastructure of the services to be integrated. PGI has a vision to “empower people to become sovereign citizens”. 

Protectoria Global Inc. is developing a Health ID, which is an ecosystem that can verify the authenticity of a vaccine, identify the recipient of the vaccination and the person that has provided the vaccination, documenting all vaccinations in an online record by respecting the privacy of the Citizen. 

Another use case is the Digital Senior Citizen ID in the Philippines enabling Senior Citizens to use their Senior Citizen card online in e-commerce transactions and apply online for subsidies provided by the government. Acceptance points can automate the calculation of the 20% discount, and other government mandated benefits, and optimize their business processes. And it allows local government units to analyse the transactions recorded into the digital booklets. Furthermore, this Digital ID can be used by all citizens to get access to online services offered by their city.

About Protectoria AS 

Protectoria AS is a Norwegian company with offices in Oslo and Berlin which develops and operates secure cloud based services for issuing and verifying decentralized digital identities, the My IDentities Services. Together with its local partners Protectoria Venture creates sustainable business models empowering local governmental services, cooperatives, small businesses and their citizen-customers to become sovereigns in the age of digitalization.

More information: 

Trond Lemberg, President: trond.lemberg@protectoria.com

Mobile phone: + 47 414 87 310

Erik Storelv, Board Member: erik.storelv@protectoria.com

Mobile phone: +47 46 52 22 00

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The Board of Protectoria Venture approved the annual results of the company for the year 2020 today, showing a net result of NOK 5 280 844. 

Revenues are NOK 17 777 500 and composed of some consulting revenues and customer setup fees paid to group companies. 

Operating costs are NOK 12 070 481, to be compared to NOK 4 463 017 in 2019, which was the first year of operations. 

A significant part of the costs is attributable to ongoing business development, sales and Research and Development efforts related to our decentralised digital ID Infrastructure service for senior citizens to be delivered to local government units in the Philippines. Research and Development costs are expensed and not capitalised according to prudent accounting practices.

Main focus in 2020 was advancing the cooperation with Quezon City, following the Memorandum of Understanding signed in February 2020 to deliver a user-friendly and secure digital service to allow Senior Citizens the benefits required by Philippine law act No.9994. To support such a service, a digital identity infrastructure will be developed with Senior Citizen IDs using decentralized architecture based on Self Sovereign Identity technology (SSI). 

Net interest bearing debt is NOK 3 818 437 to Chriba AS, the main shareholder of Protectoria Venture. Group receivables amount to NOK 17 862 540 and equity is NOK 13 269 775. Receivables are related to setup fees expected to be paid by Quezon City for group investments in developing the complete end-to-end digital ID infrastructure.

Current shareholders and key employees are strongly committed to the company and contributed to strengthening the capital of the company by investing NOK 12 520 029 in a private placement decided in an extraordinary shareholder meeting on 4. September 2020. 

With 123 910 shares at par value of NOK 1,- outstanding at the end of the year, net result after tax per share is NOK 42,6. 

Outlook statement

Protectoria Venture’s cloud based digital decentralised identity infrastructure service for issuing and managing digital identities has been met with significant interest in the Philippine market. The company’s ambition is to accelerate development and delivery in order to capture market opportunities and meet customer needs in this market.  

Protectoria Venture will continue to invest in R&D to complete the digital identity infrastructure “MY IDentity System” and prepare the delivery as a complete end-to-end cloud based service. 

In parallel, the company will pursue further sales opportunities near term, mainly in the Philippines, with other local government units. Proposals include a Senior Citizen ID and Health ID services, such as vaccine certificate and, potentially, online medical consultations and prescription handling.  

The company expects to receive significant funding from public entities for R&D investments, as well as further customer setup fees to accelerate commercialisation. The company also expects to sign other firm contracts to deliver digital ID infrastructure services under long term contracts. Expected opportunities are based on increasing market demand which results from the role of digitalisation as a means to tackle the challenges of the pandemic, and address poverty and inequalities.

More information: 

Trond Lemberg; CEO; trond.lemberg@protectoria.com  
Mobile phone: + 47 414 87 310

Erik Storelv, CFO; erik.storelv@protectoria.com
Mobile phone: +47 46 52 22 00

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Protectoria Venture’s subsidiary Protectoria Global Incorporated (PGI) and Quezon City, represented by the Office of Senior Citizens’ Affairs (OSCA), signed today on May 25th, 2021, a 15-year contract to develop, build and operate a secure and user-friendly digital decentralised identity infrastructure service with Self Sovereign Identity technology (SSI). The purpose of the agreement is to manage identities and handle discounts, as required by the law act No. 9994 granting benefits and privileges to Senior Citizens. 

The service will allow OSCA to issue and manage digital identities based on Self Sovereign Identity technology (SSI), providing users the control over their own data. Operations are planned to start as soon as possible, but no later than in 2023, and will gradually involve all 300 000 Senior Citizens of Quezon City, a City with 3,6m inhabitants, as well as potentially 74 000 merchants.

One of the first real life SSI infrastructure

The contract will be based on Protectoria Venture’s unique SSI based cloud services for delivery of identity, authentication and signing services called “My Identity System”. It is a truly decentralized architecture based on SSI principles where users are in control of the data through their own application (digital wallet), respecting local regulation on digital privacy. The “My Identity System implements state-of-the-art technology to preserve the user’s privacy, as well as to protect the processed data and secure transactions. The services will include Protectoria Venture’s patent pending technology to secure digital transactions with a single mobile device user experience. 

This will be the one of the first implementations of Self-Sovereign-Identity-based digital ID services in the ASEAN region. It will be delivered as an end-to-end digital infrastructure with a user-friendly cloud-based ‘custodian’ service, with great benefits for all stakeholders, such as interoperability, security and reliability.

Infrastructure service to create a “wheel of trust” 

The Digital Identity Infrastructure Service includes our concept of the “ Wheel of Trust” where collaborative efforts executed on a blockchain prevent a single entity from claiming to be the sole authority to be trusted. Instead there is trust in data being reliable, resulting from mathematical computation over all collaborative efforts recorded on the blockchain and therefore forever immutable and persistent. 

The parties are confident that this digital infrastructure service will provide increased efficiency in handling discounts provided to Senior Citizens with less fraud and lower costs, with passwordless single smartphone user experience.

Potential to expand scope of agreement

The agreement provides several options to expand the scope of the contract to include any application to be managed by ID-holder’s own wallets supported by the cloud service in the future. This paves the way for high-level secure communication necessary for mission critical health services to all Citizens. A general Health ID for citizens will typically include digital vaccine certificates, digitally signed prescriptions and online health consultations.

The parties are preparing for the launch of these services expected during 2023.  

Motivation of the parties

The COVID-19 pandemic has shown how vulnerable all parts of society are if dependent solely on physical processes and has, thus, highlighted the importance of deploying digital alternatives to communicate, to continue doing business, and to deliver essential public services more efficiently. 

Quezon City, through the Office of Senior Citizen Affairs (“OSCA”), provides a range of services and financial support to senior citizens of Quezon City, one of the most vulnerable groups in the COVID-19 situation. OSCA aims to allow these services to be delivered through a secure and user-friendly digital platform based on virtual, contact-free transactions in which the user has control of their data. The use of the platform is intended to minimize the need for physical contact. 

Protectoria’s SSI-based infrastructure service will not only create significant efficiencies in handling the authorities’ and the merchants’ interactions with senior citizens, but also reduce the contagion risk related to physical interactions. 

This secure and user-friendly digital ID service will also facilitate financial inclusion and reduce inequality. Furthemore, the fact that citizens will remain in control of their own data will create mutual trust, which again will expand the potential use of acceptable digital services. 

PGI will handle all interactions and be the contractual partner for Quezon City, and operate the digital infrastructure based on a firm contract with commercial conditions set. The contract will generate steady revenues and cash flow to the company, once enrollment of merchants and senior citizens is accomplished. The company will receive subscription, issuing and transaction-based revenues, which will secure a steady margin based on commercial terms specified in existing contracts. Investment in the complete infrastructure will be accomplished by Protectoria Venture. 

 About Protectoria Global Inc. 

Protectoria Global Incorporated, (PGI) is a Philippine company with offices in Manila, 100% owned by Protectoria AS (PV), a Norwegian Digital Identity Infrastructure Service company with a head office in Oslo and offices in Berlin. 

PGI aims at a market leading position for Digital Identity Infrastructure Services in the Philippines. PGI has secured exclusivity to resell PV’s digital Identity Infrastructure Services for the Philippines, which is the underlying infrastructure of the services to be integrated.

About Protectoria AS 

is a Norwegian company with offices in Oslo, Berlin and Manila that develops and operates a secure cloud infrastructure managing digital identities as a service, called “MY IDentity Services”. The infrastructure is based on a decentralised architecture using SSI (Self Sovereign Identity) and blockchain technology and integrates proprietary technology for securing transactions. 

Protectoria Venture has a vision to “empower people to become sovereign citizens”. 

The firm seeks partnerships and joint-ventures with industry-leading players, state-owned enterprises and investors with high-end transaction security projects governed under philanthropic objectives. 

Digital identities are the backbone of digital transactions. Significant market growth is expected for decentralized digital infrastructure services based on Self-Sovereign Identity (SSI) and blockchain technologies. Protectoria Venture aims to benefit from a first mover advantage to to take a leading position in the fast growing target markets internationally, all from emerging markets in ASEAN to the realization of the Pan-European digital ID based on decentralized digital identity infrastructures.

More information: 

Trond Lemberg; CEO; trond.lemberg@protectoria.com  
Mobile phone: + 47 414 87 310

Erik Storelv, CFO; erik.storelv@protectoria.com
Mobile phone: +47 46 52 22 00

The post PV subsidiary signs long-term contract to operate SSI digital infrastructure with Quezon City appeared first on Protectoria AS.

The purpose of the MOU is to establish a framework of close cooperation and collaboration among the Parties leading to developing and operating a user-friendly, fast, scalable, secure and compliant digital identity service to streamline processes availing of senior citizens benefits. The service will provide the Office for the Senior Citizens’ Affairs (OSCA) with insight on how digital offering can improve the processes of securing discounts to Senior Citizens. One of the aspects is centralization of the rollout of QC OSCA-provided services to improve the reliability of the services.  

The MoU specifies the duties and obligations of respective parties. The obligations of PGI include development and operating digital solutions based on Protectoria Venture’s SSI and cloud-based secured platform for identity, authentication and signature (My IDentity System). PGI will also cover technical support and operational assistance to QC OSCA during the enrollment process of senior citizens. 

The MoU is an important step towards a comprehensive agreement to provide services to QC OSCA, which will allow OSCA to issue and manage digital identities based on open international standards, granting users full control over their own data. Operations are planned to start in 2023 and will involve all Senior Citizens of Quezon City. Quezon City has  3,6m inhabitants, including 300 000 senior citizens and 74 000 merchants.

The parties are confident that the developed digital infrastructure will provide a significant  efficiency gain in a system based on mutual trust. One of the expected benefits is efficient handling of discounts provided to Senior Citizens, reducing fraud and lowering costs, with a passwordless single smartphone user experience.

It is the parties’ intention to conclude a final agreement upon the start of operations, which will depend on financing initial investments for building and finalising the complete infrastructure. 

About Protectoria Global Inc. 

Protectoria Global Incorporated, (PGI) is a Philippine company with offices in Manila, 100% owned by Protectoria AS (PV), a Norwegian Identity Infrastructure Service company with offices in Oslo and Berlin. 

Digital identity is the backbone of digital transactions. Significant market growth is expected for decentralized digital infrastructure services based on Self-Sovereign Identity (SSI) and blockchain technologies. The company aims to benefit from a first mover advantage to take a leading position in the fast growing market for decentralized digital identity infrastructure. 

PGI aims at a market leading position for these services in the Philippines. PGI has secured the exclusivity to resell PV’s digital Identity Infrastructure Services for the Philippines, which is the underlying infrastructure of the services to be integrated. PGI has a vision to “empower people to become sovereign citizens”. 

About Protectoria AS 

is a Norwegian company with offices in Oslo, Berlin and Manila which develops and operates a secure cloud infrastructure managing digital identities as a service, called Self Sovereign Identity (SSI) and blockchain technology and integrates proprietary technology for securing transactions. 

Protectoria Venture has a vision to “empower people to become sovereign citizens”. 

The company seeks partnerships and joint-ventures with industry-leading players, state-owned enterprises and investors with high-end transaction security projects governed under philanthropic objectives. 

Digital identities are the backbone of digital transactions. Significant market growth is expected for decentralized digital infrastructure services based on Self-Sovereign Identity (SSI) and blockchain technologies. Protectoria Venture aims to benefit from a first mover advantage to to take a leading position in the fast growing target markets internationally, all from emerging markets in ASEAN to the realization of the Pan-European digital ID based on decentralized digital identity infrastructures. 

More information: 

Trond Lemberg; CEO; trond.lemberg@protectoria.com  
Mobile phone: + 47 414 87 310

Erik Storelv, CFO; erik.storelv@protectoria.com
Mobile phone: +47 46 52 22 00

The post PGI signs a (MoU) with Quezon City, Philippines, to deliver a cloud-based and secure digital ID service with SSI technology for providing benefits to Senior Citizen set by the law appeared first on Protectoria AS.