Verida and Polygon ID Announce Zero-Knowledge Credentials


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Verida has integrated Polygon ID with the Verida wallet , making it the first mobile crypto wallet to support Polygon ID zero-knowledge credentials. Wallet users can manage digital identities and access Polygon blockchain assets without violating their privacy.

The collaboration between Verida and Polygon ID will enable a new generation of dApps in DeFi, DAOs and GameFi to securely leverage personal reputation and real-world identity. Initial use cases include Sybil resilience, role-based community access, reputation proofing, regulatory compliant DeFi, and real-world asset proofing e.g. B. Monthly income verification for access to unsecured DeFi loans.

Polygon ID credentials are secured by the Verida Network, the first self-managed data network designed for web3. Credentials are encrypted on the user’s device and stored on region-specific storage nodes that can only be accessed using the user’s private key (or can be permanently deleted).

“With the increasing importance of online privacy, individuals need to remain in control of their personal information and digital identities,” said Chris Were, CEO and co-founder of Verida. “We need efficient verification processes that protect against identity fraud without exposing sensitive information, and this is exactly what the cooperation with Polygon ID offers.”

Also Read: Best Ways Banks Can Benefit from Blockchain Technology

The Verida wallet allows users to prove their identity or share certain information without revealing unnecessary personal information. It also offers advanced features such as identity management, encrypted data management and a secure inbox.

“Polygon ID envisions a credential marketplace where it’s easier to create trusted relationships between users and applications. Verida’s seamless user experience is a key enabler for creating self-managed trusted identities, and we’re excited to feature it in our ecosystem,” said Sebastian Rodriguez , VP of Product at Polygon ID. “Together we are shaping the future of trusted identities and promoting a safer digital landscape for all.”

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


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