Decentralized identity sector fills up with chips off the old blockchain

The whirlwind dance of decentralized identity continues, as firms look to leverage decentralized ledger technology, or blockchain, as a secure way to codify digital ID and enable secure identity verification. The space is getting crowded with new entrants, each of which offers a variation on the same themes, in pursuit of the same goal: scale up.

LQDTY partners with Telos ID to launch biometric blockchain transactions

Liquidity.io, a fintech company that uses blockchain to facilitate the trading of assets, has announced the launch of LQDTY, a Layer 1 blockchain platform “designed to revolutionize blockchain usability, security and compliance,” which features biometrics from Telos ID.

A release says LQDTY’s features include biometric key shard verification and advanced Zero-Knowledge Proof (ZKP) compliance mechanisms, and a sponsored transaction model that eliminates gas fees for end users by shifting transaction costs to developers.

Telos Corporation’s integration means LQDTY will benefit from the upcoming release of Telos’ identity-as-a-service (IdaaS) product, ONYXPlus. Power the release, “LQDTY transactions can involve a verifiable biometric signature before approving and processing a transaction that requires a high level of identity assurance.” Modalities include facial recognition and fingerprint recognition for ID verification.

Telos intends to launch the ONYXPlus biometric reusable digital identity platform sometime in 2025. The firm’s CEO John B. Wood says that “as a leader in digital identity, management, and identity vetting solutions, Telos and its ONYXPlus platform will provide valuable insight into the vision for a sovereign and portable identity ecosystem for all.”

Beyond its partnership with Telos, LQDTY promises many of the same benefits as its peers in the decentralized ID space. It promotes “a developer-friendly environment with a comprehensive Software Development Kit (SDK) and APIs to facilitate efficient dApp deployment.” It says “enterprises can leverage LQDTY’s decentralized identity and credential management system to enhance security and streamline compliance.”

And, it boils down to cryptocurrency: “LQDTY’s native token, LQDTY, serves as the foundation of its economy, driving transaction execution, governance participation, and staking incentives,” says the release. “With plans to introduce decentralized financial products such as traditional futures, perpetual futures, and options trading, LQDTY is set to transform blockchain-based financial services.” A roadmap for the platform includes an upcoming testnet launch, ecosystem partnerships, and a public mainnet rollout.

IDNTTY makes (upper) case for identity service on independent blockchain

To be sure, there is an increasing need for firms to differentiate themselves in the growing market for decentralized identity, crypto and proof-of-personhood (PoP) schemes. Exhibit A is IDNTTY, a blockchain company that has issued a release that reads much like LQDTY’s.

“IDNTTY, a company dedicated to building open and decentralized systems, has officially launched its latest innovation: an identity service built on its own independent blockchain network,” says the release. “Designed to challenge traditional centralized solutions, this new service brings the power of self-sovereign identity to everyone, giving users complete control over their digital presence.”

The branding and key terms vary. IDNTTY promises “Community-Verified Trust,” enabling users to create and customize their digital identities and control what information is shared. It promises “the flexibility to expand and enhance identities with verifiable credentials” so that “individuals, companies and communities can add trusted proof of skills, achievements and memberships with ease.” The company highlights use cases from digital achievement badges to cafe loyalty programs.

Since it’s definitely not the name, IDNTTY is pushing the idea that “what sets IDNTTY apart isn’t just its technology – it’s the company’s vision.”

“Rather than focusing solely on network creation,” it says, “it prioritizes building real-world, next-generation solutions that are reliable, efficient and genuinely useful. Its blockchain operates on a trusted Proof-of-Stake consensus, ensuring a sustainable and secure foundation for digital identity management.”

The sales pitch is nice – who doesn’t love collecting points? – but is ultimately unconvincing in positioning IDNTTY as significantly different from its competitors.

World releases Mini Apps upgrade that aims for “immersive experience”

The need for a fresh pitch is only increasing, as the firms with the deepest pockets and biggest names attached burrow into mainstream partnerships to establish bulwarks. The largest and shiniest of these is World, the iris biometrics, PoP and crypto wallet scheme launched by Sam Altman, ostensibly in response to the AI he himself created at OpenAI.

In keeping with the massive ambitions unveiled at last year’s livestreamed rebranding event, World continues to scale. A new post on the World Blog says the ecosystem’s Mini Apps are scaling with it, with the release of Mini Apps 1.2 and a new Developer Rewards pilot program.

Mini Apps are native web applications that diversify uses for the World Network, and World (along with its partner Tools for Humanity) wants people to build more of them. The new upgrade promises faster speed for significantly improved load times, haptic feedback for “a more immersive experience,” a couple UX upgrades, and a search function.

World suggests that, “with more than 150 Mini Apps available and over 10M WLD transacted within Mini Apps, these updates make it fun and easy to engage with your favorite ones, which ultimately increases discoverability and retention for developers.”

Further incentive to build comes in the form of the new Developer Rewards program. Launched April 1, it pays out WLD tokens to qualifying developers monthly, “based on how many verified humans use and benefit from their applications.” The program follows the January launch of the World Build Mini App incubator initiative.

Humanity Protocol partners with Kaito on Yapper Credentials

Another name in the decentralized identity mix is Humanity Protocol, one of Asia’s first Web3 unicorns, which also continues to scale, and also has big plans. A release says a new partnership with Kaito, an “AI-driven Web3 information platform” that monitors and tracks data, enhances self-sovereign identity (SSI) verification across the crypto ecosystem. It does so by making Kaito an official Identity Validator on Humanity Protocol, responsible for issuing “Yapper Credentials,” which categorize crypto users into distinct tiers.

These are specified as Inner CT, who are “recognized and influential members of the Crypto Twitter (CT) community;” Emerging CT, who are “up-and-coming contributors making a mark in the space;” and Yappers, “general Kaito users who have signed up but do not yet fall into the above categories.”

Humanity Protocol also recently integrated into the ApeChain ecosystem. A blog says that “by embedding Proof of Humanity (PoH) into ApeChain, we’re making dApps more Sybil-resistant, governance more transparent, and digital identity more powerful than ever before. With ApeChain as a zkProofer, developers on both Humanity Protocol and ApeChain can now build without limits.”

The language of blockchain continues to be obtuse to most people; ApeChains and tokens, ZKP and SSI, LQDTY and IDNTTY, Yappers and Orbs. But for the moment, firms in the sector have a clear, common goal: build ecosystems of users, apps, credentials and currency – and do it as fast as you can.

Article Topics

biometrics  |  blockchain  |  decentralized ID  |  digital identity  |  Humanity Protocol  |  identity verification  |  IDNTTY  |  LQDTY  |  proof of personhood  |  Telos ID  |  World  |  World Mini Apps