cryptobriefing.com
Trident3 has recently integrated the peer-to-peer digital identity solution T3id with LayerZero. This collaboration will let users quickly identify themselves across over 70 blockchains connected through LayerZero’s infrastructure.
“Peer-to-peer identity verification simply means I can verify who is on the other end of a transaction, or I can verify I’m getting an email from an entity, and I am only opening that because it’s been verified that it’s really that entity,” shared Steve Goldstein, CEO at Trident3, with Crypto Briefing. “And then when you layer in our data solution, the benefit of this partnership with LayerZero is the 70-plus blockchains that they partner with.”
The T3id is a non-fungible token (NFT) that is both unsellable and untransferable, which ties it to a wallet and makes an identity unique. Users will be able to use the same identity in different blockchains through a model of “lock and mint,” consisting of locking the original NFT in a smart contract and minting an equivalent in another network.
Simon Baksys, Vice President of Business Development at LayerZero Labs, said that the Trident3 efforts to mitigate on-chain risks and introduce an additional layer of digital identity is “a fantastic use case.”
“Part of the reason why we’re collaborating here is we’re firm believers of meeting the user where they are. What that means from a digital identity perspective is taking this T3id token and making it available to all ecosystems, all users that need it and want it,” added Baksys.
Notably, Goldstein stated that the utility of the T3id goes beyond security issues, allowing entities to identify real users. Meanwhile, the NFT holders will be able to choose which information they want to share on-chain.
“The NFT sits in the wallet and then a user chooses their name, and then it’s up to him what information he wants to upload, to authenticate himself. He can upload a photo, he can upload his passport, his driver’s license. He can upload any of these certificates to authenticate himself,” explained Goldstein.
Therefore, while T3id aims to solve the digital identity issue by giving Web3 users a smooth way to be identified on-chain, it also keeps them protected by avoiding oversharing information.
“You’re always going to have a percentage of people that want to live in that decentralized world where they want to stay hidden, that’s fine. But anywhere that people want transparency, comfort and assurance of truly knowing who’s on the other end before they do that transaction. That’s why T3id is so important, it is a completely new way to look at identity just to verify,” concluded Goldstein.