Dentity plans decentralized digital ID scale-up with Trinsic platform acquisition

California-based self-sovereign identity provider Dentity is taking over a decentralized ID platform from Trinsic to more quickly scale its consumer-centric digital identity wallet and strengthen its position as a decentralized identity leader.

Trinsic called its decentralized digital identity platform, which it launched in 2019, “Ecosystems.”

Acquiring the platform gives Dentity what Trinsic described at their launch as enterprise-grade and tech-agnostic tools for building decentralized identity ecosystems on any stack, governance-as-code and issuer and verifier dashboards. The tools will be combined with Dentity’s consumer apps and distribution channels to speed up the adoption of verified digital identities for lower fraud rates, streamlined online interactions and easier management of users’ own data, according to the announcement.

For its part, divesting the platform gives Trinsic more resources with which to grow its digital “Identity Acceptance Network,” which is approaching 100 million users. Dentity is also part of Trinsic’s Network, which is its focus since pivoting away from the Ecosystems platform.

“Trinsic’s platform returns ownership and control of personal data and digital identity back to individuals,” says Jeff Schwartz, founder and CEO of Dentity. “That’s why we built on Trinsic in the first place. And that’s why we’re acquiring the platform: to give consumers complete freedom over how to share, utilize, and profit from their data.”

Dentity notes that 75 percent of consumers do not trust Big Tech with their personal information, and says the acquisition will unlock new growth opportunities and help it reach a wider range of developers.

“Thousands of developers have used Trinsic’s SSI platform, but none have matched Dentity’s success–making them the perfect steward of these assets,” comments Riley Hughes, co-founder and CEO of Trinsic.

Article Topics

decentralized ID  |  Dentity  |  digital identity  |  digital wallets  |  Trinsic