As a seasoned crypto investor with a deep understanding of the blockchain landscape, I’m excited about the potential of Privado ID. This project tackles a critical issue in Web3 – privacy and identity protection. The team behind it is made up of experienced industry veterans from Polygon Labs, which gives me confidence in their ability to execute on their vision.
In an audacious effort to combat identity theft, Privado ID emerges as the newest initiative from the Polygon Labs team. This innovative project, developed by the same group behind Iden3 Protocol and PolygonID, aspires to become a comprehensive global response for managing digital identities and reputations.
In simple terms, Privado ID empowers users to manage their data independently. Its design, which is not limited to specific protocols, enables individuals to authenticate credentials such as age and qualifications without disclosing confidential information. This is accomplished through cryptography and zero-knowledge proofs, addressing the importance of privacy in the Web3 era.
In technical terms, Privado ID is highly versatile. It adheres to W3C identity guidelines and is interoperable with any Ethereum Virtual Machine (EVM) compatible blockchain. The developers also intend to extend its functionality to non-EVM blockchains in the future, enhancing its broad applicability.
Blockchain Experts Drive Privado ID’s Vision
As a crypto investor, I’m excited about Privado ID because of the experienced team behind it. Led by CEO David Schwartz and COO Antoni Martin, both co-founders of Polygon, they bring deep blockchain expertise to the table. Jordi Baylina, who played a significant role in creating Polygon’s zkEVM, provides valuable technical guidance. Sandeep Nailwal, another Polygon co-founder, supports the team as a growth advisor, demonstrating their commitment to expanding Privado ID’s reach and impact.
In a recent press statement, Antoni Martin expressed his vision that Privado ID’s technology, which prioritizes privacy, user autonomy, and compatibility, has the potential to drastically change how individuals, intermediaries, and entities locate one another and engage within interconnected environments.
Martin reaffirmed Privado ID’s dedication to being protocol-agnostic, in line with the goal of having a unified data structure for effortless blockchain compatibility and superior user experience – essential elements for the thriving of Web3.
Privado ID’s New Partnerships
Privado ID is teaming up with recognized organizations and working closely with international banks and financial companies to create harmonious and regulation-compliant identity systems. These systems will allow access to select Decentralized Finance (DeFi) protocols only for qualified individuals, authenticated through verified credentials.
Beyond these collaborations, Privado ID has connected with the Verax attention registry on Consensys’ Linea zkEVM network. This link-up enhances identity verification across different chains, thwarts fabricated identities, and assists applications in swiftly building user trust using authenticated information.
Privado ID has recently teamed up with Avail, a modern blockchain initiative from Polygon Labs which debuted in March 2023. Avail successfully secured $43 million in their Series A funding round, co-headed by Peter Thiel’s Founders Fund, indicating the surging demand for digital solutions.
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2024-06-13 16:18