Polygon ID has been spun off from Polygon Labs as Privado ID, targeting the mainstream digital identity market.
Privado ID follows the modular blockchain project Avail in spinning out of Polygon Labs.
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ID has spun out from Polygon Labs and rebranded to Privado ID as it attempts to expand beyond the Polygon networks.
The move aims to meet global demand for digital identity and reputation solutions that work with both online and onchain data in the era of increasing identity theft, fraud and AI-generated content, according to a statement shared with The Block.
Privado ID’s protocol-agnostic design, from the team behind the Iden3 Protocol and PolygonID, gives individuals control over their own data, using cryptography and zero-knowledge proofs to let people verify their age, qualifications and other details without sharing personal information. It also supports W3C identity standards, works with any EVM-compatible blockchain and will also support non-EVM blockchains in the future, the project said.
Privado ID’s team includes Polygon co-founders, David Schwartz and Antoni Martin as CEO and COO, Jordi Baylina, a key figure in the development of Polygon zkEVM, as technical advisor, and Polygon Labs co-founder Sandeep Nailwal as growth advisor.
“We believe that Privado ID’s technology, with its emphasis on privacy, user control, and interoperability, will revolutionize how individuals, agents, and organizations find each other and interact in connected spaces, lowering the cost of trust and mitigating the risks of identity theft, fraud, and misinformation,” Martin said in a statement shared with The Block. “Our commitment to remaining protocol-agnostic aligns perfectly with the idea that unified data is essential for blockchain interoperability and enhancing user experience, both of which are crucial for the success of Web3.”