Decentralized ID the key to mainstream DeFi adoption—Quadrata co-founder – Cointelegraph

Decentralized identity (DID) and compliance services will become a “key infrastructure” to the success of decentralized finance (DeFi) and the transition of real world financial assets onto the blockchain according to Fabrice Cheng, CEO and co-founder of Quadrata.

Speaking with Cointelegraph, Cheng said the key driver behind the demand for DID will come from Web3 protocols, which will utilize the DID of users to build better products that are “catered” to existing customers and also “targets new sets of customers.”

Quadrata provides a Web3 identity solution which allows users to perform KYC compliance without sharing personal data, it recently partnered with Ethereum Layer-2 scaling solution Polygon to integrate its Web3 Passport Network.

DID refers to a self-owned, independent proof of identity which could be used to access services requiring such information at the discretion of the user. Personally identifiable information such as a user’s name, age, or ID document number would…

Read Full Story: https://cointelegraph.com/news/decentralized-id-the-key-to-mainstream-defi-adoption-quadrata-co-founder

The post Decentralized ID the key to mainstream DeFi adoption—Quadrata co-founder – Cointelegraph first appeared on SEO, Marketing and Social News | OneSEOCompany.com.

source: https://news.oneseocompany.com/2022/10/11/decentralized-id-the-key-to-mainstream-defi-adoptionquadrata-co-founder-cointelegraph_2022101132918.html

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.