Created in 2018 and incubated at Caixa Mágica Software, the Portuguese startup WalliD developed an online authentication and identification solution based on blockchain technology.
Through the WalliD tool, a user can store identification documents in a digital wallet based on the Ethereum blockchain - a decentralized immutable record technology. This information can later be used to validate the person's entity in services of companies and organizations that adopt the WalliD system.
According to the Portuguese startup, “WalliD's vision is to bring credentials from the physical world to the online world, with the objective to solve issues such as massive data breaches and identity fraud. The solution combines the advantages of blockchain technology, such as immutability and transparency, with the cryptographic guarantee of digital certificates generated by accredited authorities ”.
In 2019, WalliD secured financing from Armilar Venture Partners and also counted on the participation of the National Press-Casa da Moeda (INCM), the entity responsible for issuing the Citizen Card. Through this funding, it is expected to open the protocol to more programmers and exercise their ambitions in the international expansion of the business.