The **cryptocurrency market** is witnessing an interesting trend regarding **digital identity**. **SPACE ID**, a **Web3 Domain & Identity project** is making waves, collaborating with Coinstats while their competitor, **Worldcoin**, rebranding as 'World', initiated the launch of **World ID**. **Malaysia** has adopted this platform for **personal verification and digital ID**. To add, blockchain identity platform **Humanity Protocol** has been valued at $1.1B post fundraising. Furthermore, the **European Commission** has chosen Iota Web3 ID for their blockchain sandbox. On the other hand, **Privado ID** came up with a unique digital ID spinoff taking the solution beyond the **Polygon** ecosystem.
**Decentralized ID** has been heralded as the next 'killer' **Web3 use case** by the sustainability lead of **Cardano**. However, **KILT CEO** points out the complexity of ZK-proofs for **decentralized ID**. Additionally, **Worldcoin** is expanding **ID verification** services in **Austria** and bridging to **Solana** via Wormhole. Yat Siu shares insights on Web3's identity and its future while digital identity startup **Holonym** acquires **Gitcoin Passport**.
Amid these exciting developments companies like **MicroStrategy** are planning to launch Bitcoin-based decentralized ID solutions and **Pi coin** is being looked upon suspiciously for **collecting Identity data via ID verification**. **Sam Altman** has been waving his magic with **Worldcoin** and positive about it solving AI's verification issues.
The incorporation of **blockchain-powered digital identities** by Japan's three largest banks is another major stride in the realm of digital ID. Meanwhile, **Turkey** has introduced a new Anti Money Laundering rule setting a $425 threshold for Crypto User ID.
ID Coin News Analytics from Tue, 17 Sep 2019 07:00:00 GMT to Wed, 30 Apr 2025 21:30:58 GMT -
Rating 8
- Innovation 7
- Rumor 4
