RCS - Crossword Cybersec - Next Generation Internet Grant Win

Crossword CybersecurityAnnouncement

04/08/2022 07:15

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RNS Number : 8432U  Crossword Cybersecurity PLC  04 August 2022

Crossword Cybersecurity Plc wins NGI Atlantic funds for Verifiable Credentials
project

 

4 August 2022 - London, UK - Crossword Cybersecurity Plc
(http://www.crosswordcybersecurity.com/) (AIM:CCS, "Crossword", the "Company"
or the "Group"), the cybersecurity solutions company focused on cyber strategy
and risk, is pleased to announce that it has won a €41,625 grant from the
European Commission's Next Generation Internet (NGI) initiative to lead a
project to test the OpenID Foundation's protocols for transferring verifiable
credentials. Crossword's partners in this project are Spruce Inc from the USA
and Fraunhofer from Germany.

The European Commission's NGI initiative was launched in 2016 with the
objective of shaping the future internet as an interoperable ecosystem that
embodies the following values: openness, inclusivity, transparency,
accountability, privacy, cooperation, protection of data and information, and
freedom.

The purpose of NGI Atlantic is to develop and provide funding for
collaborations between EU and US research teams on projects that look at ways
to address the technical challenges posed by the vision of developing the NGI.

Crossword has received funding for a proposal to develop test suites and
interworking tests for World Wide Web Consortium (W3C) Verifiable Credentials
(VC) that use the OpenID Foundation's suite of protocols. These are currently
under development for transferring verifiable credentials.

 

Prof David Chadwick, the project leader, is a co-author of W3C Verifiable
Credentials Data Model Recommendation and the OIDF WhitepaperOpenID for
Verifiable Credentials
(https://openid.net/wordpress-content/uploads/2022/06/OIDF-Whitepaper_OpenID-for-Verifiable-Credentials-V2_2022-06-23.pdf)
.  He is also R&D Director for Verifiable Credentials at Crossword and is
the creator of Crossword's Identiproof product, which is based on the W3C
Verifiable Credentials standard.

 

Prof Chadwick said "This is incredibly good news for Crossword and
Identiproof, our leading SSI (Self Sovereign Identity) product. Coming soon
after our success at the JFF Plugfest last month, where we demonstrated the
interoperable display of an Open Badges V3 credential as announced on 7 July
2022, the NGI Atlantic project will enable us to concentrate on implementing
the draft OpenID Protocols for verifiable credentials. Early prototyping will
enable us to fix any inconsistencies or omissions in the draft OIDF
specifications, and feed our results into the W3C working group that has just
started to specify version 2 of the verifiable credentials data model."

 

Identiproof's VC technology has wide ranging applications including digital
ticketing, certificates, licenses, memberships, passports, proof of ownership
and many others. It provides a central technology in applications for the
issuing of digital certificates and documents that cannot be forged or
transferred, and that respect the privacy of the holders of those
certificates.  It does this through selective disclosure, whereby the
recipient requests the minimum of information in conformance with GDPR.
Identiproof is one of the first systems built to the 2019 W3C recommendations:
The Verifiable Credentials Data Model and Web Authentication (FIDO2) - two new
global web security standards.

 

Verifiable Credentials Limited, the provider of Identiproof™, was acquired
by Crossword in May 2021. Identiproof achieved its early adoption of the W3C
verifiable credentials standard thanks to Emeritus Professor David Chadwick
being one of the six co-authors and editors of the standard and a well-known
expert in the field of digital identity and verifiable credentials.

 

 

Contacts

 

Crossword Cybersecurity plc - Tel: +44 (0) 333 090 2587

Email: info@crosswordcybersecurity.com

Tom Ilube, Chief Executive Officer

Mary Dowd, Chief Financial Officer

 

Grant Thornton (Nominated Adviser) - Tel: +44 (0) 20 7383 5100

Colin Aaronson / Jamie Barklem / Daphne Zhang / Ciara Donnelly

 

Hybridan LLP (Broker) - Tel: +44 (0)203 764 2341

Claire Louise Noyce

 

For media enquiries contact:

Financial PR:

David Hothersall, Kinlan Communications

davidh@kinlan.net (mailto:davidh@kinlan.net) - Tel: +44 (0) 207 638 3435

General:

Duncan Gurney, GingerPR

duncan@gingerpr.co.uk (mailto:duncan@gingerpr.co.uk) - Tel: +44 (0)1932 485
300

 

About Crossword Cybersecurity plc

Crossword offers a range of cyber security solutions to help companies
understand and reduce cyber security risk. We do this through a combination of
people and technology, in the form of SaaS and software products, consulting,
and managed services. Crossword's areas of emphasis are cyber security
strategy and risk, supply chain cyber, threat detection and response, and
digital identity and the aim is to build up a portfolio of cyber security
products and services with recurring revenue models in these four areas. We
work closely with UK universities and our products and services are often
powered by academic research-driven insights. In the area of cybersecurity
strategy and risk our consulting services include cyber maturity assessments,
industry certifications, and virtual chief information security officer
(vCISO) managed services.

 

Crossword's end-to-end supply chain cyber standard operating model (SCC SOM)
is supported by our best-selling SaaS platform, Rizikon Assurance, along with
cost-effective cyber audits, security testing services and complete managed
services for supply chain cyber risk management. Threat detection and response
services include our Nightingale AI-based network monitoring, Nixer to protect
against application layer DDoS attacks, our Trillion and Arc breached
credentials tracking platforms, and incident response. Crossword's work in
digital identity is based on the World Wide Web Consortium W3C verifiable
credentials standard and our current solution, Identiproof, enables secure
digital verification of individuals to prevent fraud.

 

Crossword serves medium and large clients including FTSE 100, FTSE 250 and
S&P listed companies in various sectors, such as defence, insurance,
investment and retail banks, private equity, education, technology and
manufacturing and has offices in the UK, Poland and Oman. Crossword is quoted
on AIM of the London Stock Exchange.

 

Visit Crossword at https://www.crosswordcybersecurity.com/
(https://www.crosswordcybersecurity.com/)

 

 

More about the JFF Plugfest can be found at:
www.nga.org/projects/skills-driven-state-community-of-practice/
(http://www.nga.org/projects/skills-driven-state-community-of-practice/)

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