A recent data breach at Coinbase resulted in the exposure of customer personal information, government-issued IDs, and transaction data. A more privacy-centric approach is taken by SPACE ID, a Web3 domain identity providing anonymous Bitcoin transactions. This platform has also collaborated with crypto portfolio tool, CoinStats, as the utilization of Web3 domain names increases. At the same time, Worldcoin’s World ID is bridging with Solana via Wormhole as it rebrands into ‘World’.
Worldcoin, a project for Biometric Crypto ID has recently expanded in the US through Visa card partnership and Tinder verification pilot project. However, it faced criticism over its controversial verification platform that was blocked by Komdigi.
Billions Network, a competitor of World, launched non-biometric digital ID. Another digital identification venture, Gravity, unveiled .g domain name service for enhancing Web3 identities. Authorities in Buenos Aires are now implementing blockchain-based ID for resident 3.6 million, while Zetrix is aiding Chinese nationals abroad with digital ID verification.
Sam Altman's World Network and Razer aim to mitigate gaming's bot problem. They have achieved brand visibility with the viral memecoin from Musk’s X ID, Harry Bolz Coin. Altman’s other initiative, Worldcoin (WLD), received uptick as the project extended the global ID verification. A rival to Worldcoin, the controversial Humanity Protocol aims to create a Human ID. Meanwhile, high-profiled individuals like Yat Siu shared their insights on Web3’s Identity. Privado ID is progressing identity control solution beyond the Polygon. In contrast, Iota Web3 ID was selected for the blockchain sandbox of the European Commission. The emerging digital ID market also sees large Japanese banks rallying around blockchain-powered digital film identification.
MicroStrategy plans to establish a Bitcoin-based decentralized ID solution and Worldcoin’s controversial eye-scanning orb has found backers at Reddit and Microsoft. However, skeptic voices warn of a potential privacy nightmare, cautioning of the centralized drawbacks like the hacking of Apple IDs.
ID Coin News Analytics from Wed, 15 Aug 2018 07:00:00 GMT to Thu, 15 May 2025 17:31:15 GMT -
Rating 4
- Innovation 8
- Information 6
- Rumor 7
