crypto-economy.com
TL;DR
- Strategic Merger: Private ID and Disco.xyz merge to create a unified digital identity infrastructure spanning both Web2 and Web3.
- Multi-Channel Expansion: The merger will allow Privado ID to integrate identity solutions across multiple blockchains such as Optimism, Arbitrum, and Base.
- Identity Innovation: The new entity will use advanced technologies such as zero-knowledge proofs to ensure the integrity of identity data.
Private ID and Disco.xyz have announced a merger that marks a milestone in the evolution of digital identity.
This strategic move aims to create a unified identity infrastructure that connects Web2 and Web3 ecosystems, addressing the growing need for a robust identity system in the digital age.
BREAKING NEWS: Privado ID merges with Disco! 🥁🥳
Disco founder Evin McMullen @provenauthority and her team join forces with Privado ID to launch Unified Identity across blockchains and legacy systems
Welcome @provenauthority and Disco team! 👋
[A Thread🧵] pic.twitter.com/iEIfcsLopZ
— Privado ID (formerly Polygon ID) (@PrivadoID) September 19, 2024
With the integration of Disco, known for its expertise in verifiable data management and reputation, Privado ID will expand to multiple blockchains including Optimism, Arbitrum and Base, empowering its identity solutions across a variety of digital environments.
The merger between the two companies will allow Privado ID to take advantage of Disco’s advanced technology, especially in terms of cross-chain compatibility and identity management.
Disco has developed tools such as the “Data Backpack”, which facilitates interaction with verifiable data and on-chain identity in an intuitive and accessible way.
This tool will serve as a virtual repository where users can consolidate their online presence, aligning with Privado ID’s goal of providing more comprehensive and simplified control over digital credentials.
The new approach to unified identity proposed by this merger promises to revolutionize the way individuals and organizations manage their identities in the digital environment.
For users, this will mean more seamless management of their identities and the ability to securely share verified data across different platforms.
This identity proofing capability, which includes aspects such as age, location and authenticity, will open up new opportunities and benefits in an interconnected world.
For businesses and protocols, unified identity will enable automatic delivery of benefits and opportunities to the right parties, improving efficiency and security in digital interaction.
Additionally, Privado ID plans to use technologies such as zero-knowledge proofs to ensure the integrity and security of identity data, overcoming the limitations of traditional cross-chain bridging systems and closed reputation providers.
Privado ID’s Vision of Decentralized Identity
The integration of Disco into Privado ID also highlights both companies commitment to neutrality and scalability in identity management.
Evin McMullen, founder of Disco and new co-founder and chief strategy officer of Privado ID, will bring extensive experience in developing on-chain technologies.
McMullen, with over a decade of industry experience, will help accelerate the adoption of decentralized identity, taking the vision of an integrated digital identity to new heights.
The merger has also proven its worth with successful pilot concepts implemented in major multinational banks and financial companies.
Furthermore, the recent collaboration with Telefónica Tech underlines Privado ID‘s ability to promote the adoption of privacy-focused digital identities in Europe.
These initiatives reinforce Privado ID‘s position as a leader in digital identity solutions, setting a new standard for identity management in the digital age.