For designers aiming to quickly build identity management into their platforms, the most readily available choices do not stray far from the internet’s biggest, most data-hungry platforms.
Magic, a small SF start-up building a decentralized blockchain-based identity service, wishes to create a smooth experience that feels comparable to login workflows from apps like Slack and Medium, where users are sent a link to they can click to instantly log in. Magic’s SDK allows designers to craft similar experiences to Medium and Slack without constructing them from scratch, leveraging authentication by means of blockchain key pairs that permits users to safely log in across gadgets.
“Our identity nowadays is mostly controlled by Facebook and Google; what’s cool about this identity solution is that it’s a decentralized identity,” Magic CEO Sean Li says.
The start-up is releasing out of stealth, rebranding from its previous business name Fortmatic, and revealing that they’ve raised $4 million in a seed funding round led by Placeholder. A host of other financiers took part in the business’s financing, consisting of Lightspeed Ventures, SV Angel, Social Capital, Cherubic Ventures, Volt Capital, Refactor Capital, Unusual Ventures, Naval Ravikant, Guillermo Rauch and Roham Gharegozlou.
Li has actually largely sought to reduce the blockchain element of the company’s tech in an effort to keep the appeal more mass market, however Magic’s early consumers are largely in the blockchain world, specifically Ethereum applications. The company is totally free for consumers with less than 250 users, and past that membership rates scales from a $79/mo strategy to custom pricing for complete white-labeled business roll-outs with custom-made combinations. Li says the Magic platform is SOC 2 certified.
In the business’s security documents, they keep in mind that any user keys entirely bypass Magic serversand are saved encrypted on AWS’s Key Management Service, ensuring that Magic never ever sees private user secrets. The business is presently developing out their SDK to support authenticator apps and hardware-based authentication through YubiKeys “One big difference that we have compared with something like Medium, is if you’re trying to log into your
laptop and click the link on your phone, you ‘d be logged in on your phone and that’s not the ideal location to edit an article,” Li says.” However with our Magic link login you’re logged into the laptop computer and you can click your magic link from anywhere. “Alongside the funding news, Magic announced collaborations with front-end designer platform Vercel, Cryptokitties-maker
Dapper Labs and the Max Planck Society research institute. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.