Digital ID alternatives emerging from Web3 work

Large organizations are leading the charge into decentralized digital identity credentials, according to a new white paper from the CompTIA Blockchain and Web3 Advisory Council.

“Decentralized Digital Identity & Self-Sovereignty” argues that small and medium-sized businesses will follow their lead, adopting verifiable credentials held in a digital wallet.

Not only is there activity being analyzed in the industry, but there’s also actual money being invested.

Digital ID intended to add security in decentralized world

A layer 1 blockchain, Concordium, has debuted its Web3 ID, which it describes as a “blockchain-native identity platform with programmable privacy for individuals and organizations.” Holders can issue zero-knowledge proofs to decentralized app and field ID proof requests from the apps.

Concordium’s product lead, Mikael Breinholst, said Web3 ID offers a “refreshed outline for how we view ourselves and our data in digital spaces.”

Fresh from the launch of Unstoppable‘s Messaging app, Sandy Carter participated in Q&A on a podcast published by trade publication Cryptonews. Messaging is designed to integrate Unstoppable subscribers with selected peers in Web3 communities.

It’s a lengthy interview and one of the interesting nuggets deals with work Unstoppable is doing with protocol-developer Rarimo to create a declaration of proof of humanity, separating the bots from humans with its web domain-based IDs. (The company raised $65 million a year ago.)

Owner-rights advocate nets $20M for Web3 project

A $20 million round has been raised by Animoca Brands, a digital entertainment, venture capitalist and digital property-rights advocate in Hong Kong. The fund, which Animoca converts to Australian dollars (A$31.1 million) in its announcement, will be used to accelerate the growth of a project called Mocaverse.

Some of the money will pay for Web3 adoption of the project. Mocaverse makes Web3-native tooling that online properties can use to enable customers to create digital identities.

Executives of the company took the opportunity to update the market on its planned launch of Moca ID. Due “soon,” the ID is a non-transferrable NFT collection that customers can use to make on-blockchain IDs.

Promise of non-custodial wallets brings in pre-seed round

Authentication solutions company OxPass says it has closed a $1.8 million pre-seed funding round. OxPass is a Web3 company working with non-custodial wallets. Its buyers are developers who, according to TechCrunch, want to build multiple authentication processes for the wallets.

QuestN, zkMe partner to protect customers

A pair of less-known companies, QuestN and zkMe, are partnering to protect quest givers from sybil and bot attacks.

Web3 analysis firm QuestN says it is working with zkMe in order to integrate the proof-of-personhood solution MeID. QuestN is interested in utilizing its new partner’s fully homomorphic encryption technology.

In a liveness verification, a face biometric template is created and encrypted on the user’s device, eliminating the transfer of that data, when it could be stolen. Each person gets a decentralized identifier that is related to their face without a centralization process or typical privacy threat.

For its part, zkMe has ID management with anti-bot and anti-sybil services. Just as important, the software’s credentials and profiles use end-to-end zero-knowledge proofs and comply fully with regulatory requirements, according to a statement from zkMe.

Article Topics

Animoca  |  biometrics  |  CompTIA  |  Concordium  |  digital ID  |  funding  |  identity verification  |  OxPass  |  web3  |  zkMe