Privado ID, formerly known as Polygon ID, has emerged as an independent entity once again, breaking away from Polygon Labs. This marks a significant milestone in the advancement of solutions for the global issue of digital identity and reputation. At a time when AI-driven misinformation is widespread, Privado ID aims to provide a secure, self-sovereign digital identity.
We extend our heartfelt congratulations to the entire @Privado_ID team! We eagerly anticipate the team’s accomplishments, empowering all web3 users to reclaim control over their online identities and ensuring data sovereignty across dApps .
Privado ID Maintains Autonomy for Greater Reach and System Integration
Privado ID is being crafted as a decentralized and trustless identity platform that supports both onchain and online data. Serving as a decentralized intermediary, Privado ID facilitates connections between apps and trusted issuers for seamless interactions, supporting the economic growth and sustainability of trusted providers.
By operating independently from the Polygon ecosystem as a distinct identity provider, Privado ID can target a broader audience and seamlessly integrate with various systems. While initially developed within Polygon (MATIC), the company itself is not tied to any specific ecosystem. This impartiality enables Privado ID to handle sensitive data consistently and reliably.
A unified, accurate source of identity data with guaranteed synchronization across blockchain platforms is crucial, particularly within the Ethereum environment. While various solutions exist to address identity challenges, achieving interoperability between protocols remains a key hurdle. The company can adapt existing protocols to serve as a valuable asset in the blockchain ecosystem, meeting the increasing market demand for comprehensive identity solutions.
Privado ID Collaborates with Prominent Brands to Counter AI-Generated Fake News
The demand for privacy-centric solutions in the digital identity sector is on the rise in 2024. This market is projected to surge from $30.81 billion in 2023 to $101.37 billion by 2030. Solutions for privacy-focused age verification, bot defense, and reusable privacy-preserving KYC based on national IDs are essential in today’s landscape.
With major countries like the UK, India, USA, and Indonesia gearing up for general elections this year, the need for verified information is paramount. AI exacerbates the issue by blurring the lines between authentic and fabricated news. Privado ID and other digital identity solutions play a crucial role in mitigating the negative impacts of AI-generated fake news and fostering trust. Privado is actively collaborating with top brands, including multinational financial service firms, to address these challenges through Proof-of-Concepts (PoC).
Tags: MATIC