Privado ID to unify Web2, Web3 digital identity with Disco merger

Privado ID, formerly known as Polygon ID, has announced a merger with Disco, a company specializing in multichain verifiable data and reputation management. The merger aims to establish a unified identity infrastructure that bridges identities across Web2 and Web3 ecosystems. This infrastructure is designed to facilitate digital identity management across multiple blockchain networks and legacy systems.

Privado ID, which has worked with companies like Telefónica Tech in the financial and technology sectors, seeks to expand its services across chains like Optimism, Arbitrum, and Base. The merger with Disco is set to improve Privado ID’s existing capabilities, in a bid to provide the ability to verify identity across decentralized finance (DeFi) platforms, enterprise ecosystems, and governance structures.

According to the company, the unified digital identity system allows users to manage their identities and share verified data across multiple platforms, enabling them to prove age, location, or identity when needed.

For businesses and systems, the unified identity framework aims to ensure that services and benefits are automatically directed to the right users. Privado ID is developing this technology to support functions like proof of identity, access control based on reputation, risk management, and incentive distribution across all networks and systems.

David Z, co-founder and CEO of Privado ID, says: “Connecting verifiable trust across protocols is the key to abstracting away blockchain and data complexity, a thesis we have shared first in partnership with Disco, and now as teammates.

“The web evolves one step at a time, and Privado ID is leading the way with institutions and builders to make that step together.”

With the merger, Evin McMullen, the founder of Disco, will join Privado ID as co-founder and chief strategy officer. McMullen will focus on addressing fragmented identity issues and advancing the development of a unified identity protocol. McMullen highlights the importance of seamless user interactions, noting that the combined knowledge of both companies will drive more secure and efficient digital experiences.

The merger is set to bring together Disco’s decentralized identity technologies, including Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs), with Privado ID’s infrastructure to create a cross-chain identity system.

Antoni Martin, co-founder and COO of Privado ID, emphasizes that the merger would enable the development of a decentralized identity framework that works across multiple chains and platforms, promoting innovation in digital identity systems.

Elsewhere, the company recently introduced a digital wallet, which incorporates self-sovereign identity (SSI) technology into decentralized applications, to help with streamlining identity verification processes.

In the coming months, Privado ID plans to implement zero-knowledge proofs (ZKPs) to ensure the security of identity data, including for know your customer (KYC), proof of age, and proof of humanity requirements, with the goal of solving traditional identity verification challenges without relying on single reputation providers.

Article Topics

decentralized identifiers (DIDs)  |  digital identity  |  Disco  |  identity verification  |  Privado ID  |  verifiable credentials  |  web3