Polygon’s successful identity project, Polygon ID, has undergone a spin-out and rebranding to become Privado ID, a new venture focused on the growing demand for secure, private, and interoperable digital identity solutions. This move aligns with Polygon’s commitment to fostering innovation and supporting the evolution of Web3.
Protocol-Agnostic Approach to Digital Identity
Privado ID’s protocol-agnostic design, developed by the team behind the Iden3 Protocol and PolygonID, aims to give individuals greater control over their personal data. Utilizing cryptography and zero-knowledge proofs, Privado ID allows users to verify their age, qualifications, and other details without sharing sensitive information. The project’s interoperability extends beyond Ethereum-based blockchains, with plans to support non-EVM blockchains in the future.
Partnerships and Integrations
Privado ID is actively establishing partnerships with both on-chain and institutional organizations, including proof-of-concepts with several multinational banking and financial service companies. These collaborations are focused on developing interoperable and compliant identity frameworks, ensuring only eligible participants engage with certain DeFi primitives through verifiable credentials.
Additionally, Privado ID has integrated with the Verax attention registry on the Linea zkEVM chain developed by ConsenSys. This integration is designed to enhance cross-chain identity, prevent fake identities, reduce the cost of managing trustworthy data, and help applications quickly establish user reputations using verified data.
Spin-offs from Polygon Labs
Privado ID is not the only independent project that emerged from Polygon Labs. In March 2023, the modular blockchain Avail was spun off from Polygon Labs, with co-founder Anurag Arjun departing to lead the new venture, which recently raised $43 million in a Series A funding round.
These spin-offs demonstrate Polygon’s commitment to fostering a vibrant ecosystem and enabling the growth of specialized projects that can drive the adoption and development of Web3 technologies.
Conclusion
Privado ID’s launch as an independent entity from Polygon Labs underscores the growing importance of secure, private, and interoperable digital identity solutions in the era of increasing identity theft, fraud, and AI-generated content. Privado ID aims to revolutionize how individuals, agents, and organizations engage in the Web3 ecosystem by empowering individuals to control their personal data and facilitating seamless interactions across different blockchain protocols.
