An interview with Naman Mishra, founder of Sedax, a Blockchain based encrypted eKYC solution
In an exclusive interview with Naman Mishra, the visionary founder of Sedax, we delve into the innovative strategies and core values that have propelled his company to the forefront of the industry.
With a passion for technology and a commitment to excellence, Naman shares his insights on entrepreneurship, the challenges he faced, and the future he envisions for Sedax.
Naman, can you tell us a little bit about your background and what inspired you to create Sedax?
Naman Mishra: Technology has always fascinated me, but the inspiration for Sedax came from a personal experience. While traveling, I realized the inconvenience and security risks of submitting hard copies of IDs like Aadhaar for hotel check-ins.
This outdated practice not only compromised data privacy but also exposed a critical gap in secure identity verification. Determined to find a better solution, I founded Sedax to offer secure, decentralized digital identity services that empower both individuals and businesses. Our mission is to revolutionize data security and streamline the identity verification process.
What makes Sedax’s platform different from other digital identity verification solutions on the market today?
Naman Mishra: At Sedax, we took a deep dive into identity verification processes that rely on personal data and identified a major flaw—service providers often verify specific parameters but still require individuals to surrender their personal data, creating unnecessary security risks.
To solve this, we leveraged emerging Web3 technologies to make the verification process more secure and efficient.
Our solution allows users to share only the necessary information while utilizing a transparent, decentralized ledger to record verifications.
This not only strengthens data security but also ensures that users remain in control of their personal information, making Sedax a unique alternative to traditional identity verification solutions.
In your opinion, how can decentralized identity systems change the landscape of online security and privacy?
Naman Mishra: Decentralized identity systems can revolutionize online security and privacy by removing the reliance on centralized data storage, which is a prime target for cyberattacks.
By giving users full control over their data and enabling selective sharing, these systems minimize the risk of breaches and unauthorized access.
Additionally, decentralized identity enhances the security of online interactions, allowing individuals to safeguard their personal information while maintaining greater privacy.
What are the regulatory challenges around implementing blockchain-based identity solutions, and how is Sedax working to stay compliant with global data privacy regulations like GDPR?
Naman Mishra: Implementing blockchain-based identity solutions comes with regulatory challenges, particularly in ensuring compliance with global data privacy laws like GDPR.
At Sedax, we address this by leveraging a decentralized digital infrastructure where users, service providers, and authorities operate within defined roles, ensuring privacy and security at every stage of data processing.
Our consent-based framework guarantees that personal data is never used without explicit user approval. Additionally, we utilize blockchain as a secure ledger for KYC record generation, ensuring data integrity and immutability.
Beyond GDPR, we proactively comply with India’s DPDP Act 2023, reinforcing our commitment to global data privacy standards. Through these measures, we prioritize transparency, security, and user control over personal data.
What’s next for Sedax? Are there any exciting new features or developments in the pipeline that you can share with us?
Naman Mishra: At Sedax, we’re focused on expanding our platform’s reach by exploring diverse use cases and collaborating with various ministries at both the state and national levels in India.
With the country’s rapidly growing population, our goal is to build a streamlined, secure, and privacy-centric digital identity solution that meets the evolving needs of Indian users.
We’re also working on forging partnerships with financial institutions and government agencies to further integrate our platform across multiple sectors, ensuring a seamless and secure identity verification experience for all. Exciting developments are on the horizon as we continue to push the boundaries of digital identity innovation.
What advice would you give to entrepreneurs looking to create disruptive technologies in the blockchain and identity verification space?
Naman Mishra: For entrepreneurs venturing into blockchain and identity verification, my key advice is to prioritize solving real-world problems. Focus on understanding your target audience’s needs and building solutions that are both secure and user-friendly.
Stay ahead of regulatory changes and proactively ensure compliance, as trust and transparency are critical in this space. Most importantly, embrace innovation while keeping practicality at the core of your technology.
As our conversation with Naman Mishra concludes, his unwavering dedication to innovation and leadership shines through.
His journey with Sedax serves as an inspiring testament to the power of vision and resilience in shaping a successful enterprise.
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