Privado ID Expands Identity Control Beyond Polygon
Polygon Labs has recently rebranded its Polygon ID service, which will now operate independently under the name Privado ID. This move allows Privado ID to extend its self-sovereign identity control solutions beyond the Polygon network, serving a broader range of protocols. The rebrand paves the way for more diverse applications of Privado ID, including verifying humanity and uniqueness to thwart Sybil attacks, facilitating airdrops and other incentives, enabling decentralized exchange trading, and fulfilling compliance requirements like proof of age and Know Your Customer (KYC) verification. Privado ID is versatile enough to be used in traditional finance sectors, aiding in the transfer of securities, intellectual property, and land titles through tokenization.
One of the key features of Privado ID is that users have direct control over their identities and the information they choose to share. For instance, individuals can verify their age without disclosing sensitive details like their address or nationality. Identity files are securely stored in users’ wallets, and can be recovered using seed phrases if necessary. Issuers of these identities can operate either onchain or offchain, including governmental bodies.
The inception of Polygon’s identity solution dates back to March 2022, with its launch following a year later. Utilizing cryptographic-based zero-knowledge (ZK) technology, Privado ID ensures that information isn’t stored or transmitted by third parties, thus verifying the authenticity of digital content while minimizing the risk of AI-generated misinformation. These features make the platform not only suitable for blockchain environments but also potentially valuable in metaverses, gaming, and non-fungible tokens (NFTs).
Privado ID has already seen successful proof-of-concept trials with global banks and financial institutions like Deutsche Bank and Consensys. These tests focused on issues of interoperability, compliance, and permissioned transactions, confirming the technical feasibility of the service. The identity solution has also integrated with the attestation registry of the Linea zkEVM blockchain developed by Consensys.
Co-founder and chief operating officer of Privado ID, Antoni Martin, emphasized that the company’s protocol-agnostic stance is crucial for blockchain interoperability and enhancing user experience, both vital elements for the flourishing of Web3. By maintaining a flexible approach, Privado ID aims to lower the cost of trust and risk mitigation, making it a highly efficient tool for a variety of applications.
Privado ID intends to expand its capabilities to support non-Ethereum Virtual Machine (EVM) blockchains, ensuring a broader scope of functionality. This ambition signifies a commitment to remaining adaptable and inclusive in its service offerings.
Sandeep Nailwal, the co-founder of Polygon Labs, will take on the role of growth adviser for Privado ID. Nailwal, who became Polygon’s chief business officer in May, will focus specifically on nurturing the development of new ZK solutions, thereby guiding Privado ID through its next stages of growth and technological innovation.
Privado ID represents a significant step forward in decentralized identity solutions, leveraging advanced cryptographic technologies to offer secure, user-controlled identity management. By stepping out of Polygon Labs’ direct oversight, the service has positioned itself to become a versatile and widely applicable tool in both blockchain and traditional finance sectors.
37 thoughts on “Privado ID Expands Identity Control Beyond Polygon”
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Interoperability across non-EVM blockchains? Privado ID is truly set to become a global identity solution!
The successful trials with global financial institutions show how powerful Privado ID is. So exciting! 🌟💼
This is a significant step towards secure and decentralized identity solutions. Way to go, Privado ID!
Is this just another gimmick to pump Polygon’s reputation? Emphasis on interoperability and flexibility sounds like a lot of marketing fluff. 🤷♂️
Incredible! Privado ID’s focus on lowering the cost of trust and risk mitigation is exactly what we need.
The service may be versatile, but will it be user-friendly? If it’s too complicated, mainstream adoption will be an uphill battle.
Antoni Martin and Sandeep Nailwal make such a visionary team! Really looking forward to what’s next for Privado ID.
Great move by Polygon Labs to make Privado ID independent! This will undoubtedly increase its versatility and adoption. 🌐💪
The independent operation of Privado ID will definitely enhance its development and applications. Exciting times!
Does anyone else feel like the term ‘protocol-agnostic’ is just a fancy way of saying they’re not ready for anything specific?
Good luck relying on seed phrases for identity recovery! Can you imagine losing access because you misplaced a few words?
How can we be sure that Privado ID won’t fall into the same traps as other digital ID solutions? Security breaches, anyone? 😬
Privado ID sounds great in theory, but I’m skeptical about the actual execution. Rebranding isn’t enough to make it effective. 🚩
I worry that stepping out of Polygon Labs’ oversight could make it less credible. Trust is a big deal, especially in this space.
Privado ID seems to encompass everything needed for a secure digital world. This is huge! 🌐🔐
It’s amazing how Privado ID has already proven itself with big names like Deutsche Bank. Future looks bright!
Another rebrand? Does Polygon Labs even know what it’s doing? Too many changes can confuse users and stifle adoption.
Expansion and inclusivity are great, but without a stable framework, this seems risky. I feel like they need to get their current systems right before expanding.
This is super exciting! Privado ID is stepping up to tackle Sybil attacks and more. Kudos to Polygon Labs!
Really impressed by the potential of Privado ID in both blockchain and traditional finance sectors!
Kudos to the team behind Privado ID for setting new benchmarks in decentralized identity space! 🛡️🏆
Privado ID sounds like a game-changer! The self-sovereign identity control is much needed in todays digital age.
Nice story, but seems like a lot of hype with not much substance. Trust and security are earned, not declared. ❗
Wow, the rebranding to Privado ID is fantastic! Can’t wait to see how it revolutionizes identity management beyond the Polygon network.
Another innovation milestone! Privado ID really brings us closer to a secure, decentralized future.
Rebranding to Privado ID is a smart move! Can’t wait to see what the future holds. 🚀🛡️
Privado ID’s application potential is enormous! From gaming to NFTs, its got everything covered.
Lowering the cost of trust is a nice buzzword, but is it realistic? I’m not convinced until I see it in action. 💡
They’re focusing a lot on technical feasibility, but what about real-world application? Integrating with global banks is one thingmaking it work is another.
Identity verification without disclosing sensitive details sounds too good to be true. Privacy breaches are a real concern.
So excited to see where Privado ID goes with recognizing humanity & thwarting Sybil attacks. This is revolutionary!
Privado ID’s approach to user-controlled identity management is just what the digital world needs.
Zero-knowledge tech is fantastic, but can we trust that Privado ID won’t have security flaws? Seen too many secure systems fall apart over the years.
The flexibility Privado ID offers… wow! So many applications, especially in decentralized exchanges and KYC compliance.
The fact that Privado ID uses zero-knowledge technology to keep our data secure is impressive.
Changing the game for secure identity control! Privado ID is definitely paving the way for the future. 🚀🔐
From Sybil attacks to compliance requirements, Privado ID seems to handle it all brilliantly.