A New Paradigm For Digital Identification And Verification Is Being Redefined By Wipro Lab45 

Wipro Lab45, the innovation lab of the leading technology services and consulting company, Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), announced today the launch of its Decentralized Identity and Credential Exchange (DICE) ID, which makes it easier, faster, and more secure for users to share their private information online by placing them in control of their data.

DICE ID offers tamper-proof, self-verifiable digital credentials powered by blockchain technology. In an identity wallet owned by the user, DICE ID stores verified personal information from certified issuers.

The data is encrypted and embedded in the wallet and can only be accessed by the user who owns that wallet. There is a wide range of purposes for which this digital wallet can be used - from sharing identity or credentials with current or potential employers, healthcare providers, and financial institutions, as well as educational institutions. By using DICE ID, users are in complete control of their personal data and are able to decide for themselves how much and what type of information they want to disclose in digital settings.

As Wipro's Chief Technology Officer, Subha Tatavarti said, "DICE ID leverages the core tenets of blockchain technology to transform the way consumers manage their online identities." “The current technology of online identification relies on single sign-on services, which require users to share their personal data with multiple third parties. By making sharing of personal data on digital platforms easier and safer than ever before, DICE ID gives individuals back control. It is our belief that decentralized identity and verifiable credentials technology will become a game-changer resulting in a metamorphosis of the identity space as we know it today. It is an honor and a privilege to be at the forefront of this innovative technology, and we are excited to be a part of it."

Powered by W3C's (World Wide Web Consortium) verifiable credential open data model, DICE ID is able to make credentials machine-readable and interoperable, allowing for secure exchange between ecosystem players and providing machine-readable credentials.

With select clients piloting DICE ID since September 2022, it is already being used in a variety of ways, including credential verification for talent/crowdsourcing.

DICE ID can be used for the following purposes:

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• With the advent of portable skills credentials for learners and freelancers, ed-tech organizations, colleges, and crowdsourcing communities are leveraging DICE ID to create a talent exchange ecosystem.

• In order to handle user consent while maintaining their privacy and confidentiality, Fintechs and financial institutions use DICE IDs as a way to share user data and manage user consent.

• DICE ID is being used by medical tech startups as a way to safeguard medical data, enhancing the level of trust that patients have in the platforms they offer.

• In order to help citizens prove their eligibility for benefits, as well as other programs and schemes offered by the government, the DICE ID is being used by government-affiliated institutions.

• Several metaverse platforms are utilizing DICE ID in order to create Sybil-resistant communities for avatars through pseudonymous identifiers.

About Wipro Limited

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Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is one of the world's leading technology services and consulting companies focused on the creation of innovative solutions that address the most complex digital transformation needs of its clients. By leveraging our comprehensive portfolio of capabilities across consulting, design, engineering, and operations, we help clients realize their boldest ambitions and develop businesses that are future-ready, sustainable, and able to navigate today's challenges. With more than 250,000 employees and business partners in 66 countries, we are committed to delivering on our promise of helping our customers, colleagues, and communities thrive in a world that is constantly changing.