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Self-sovereign ID startup comes out of the gate flush

Self-sovereign ID startup comes out of the gate flush
 

A formerly stealth-mode identity startup says it is distributing its first products, a self-sovereign identity tool kit.

Truvity is out talking about its funding and its software development tools, a development kit and an API. With the tools, the company says, developers can more easily build decentralized digital identity products using self-sovereign ID principles.

Executives say the principles will make legacy fragmented databases obsolete.

Someone out there has confidence in Truvity. The Amsterdam company has announced that it has raised €8 million (US$8.56 million) from Artek Group since forming as Project Plato in 2021.

The company says developers can build complete digital identities for people and inanimate assets. The software can be used for KYC and AML checks, and complies with GDPR and eIDAS rules. The company pitches its software to financial services and decentralized finance (DeFi) firms, human resources and education organizations.

Developers will be able to create processes like instant identification and verification as well as digital objects including wallets, verifiable credential orchestration and public key infrastructure, according to Truvity.

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