Secure Your Credentials with Polygon ID: The New Self-Sovereign Identity Infrastructure

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• Polygon (MATIC) has released Polygon ID, a web3 identification service that verifies user credentials in a secure manner using blockchain technology.
• The Polygon ID self-sovereign identity infrastructure stack will help programmers get closer to tackling the issue of digital trust.
• Uses for this technology extend well beyond traditional banking, including onboarding customers for e-commerce platforms, password-free login, and issuing under-collateralized loans.

Introduction

Polygon (MATIC), one of the most popular Ethereum sidechains, has released Polygon ID – a web3 identification service that verifies user credentials in a secure manner using blockchain technology.

The Benefits Of Polygon ID

The Polygon ID self-sovereign identity infrastructure stack will help programmers get closer to tackling the issue of digital trust. It might be useful in compliance use cases like as the “Know Your Customer” procedure which is necessary for centralized exchanges, permissioned DeFi protocols and fiat payments gateways that provide on- and off-ramps.

Uses For This Technology

Uses for this technology extend well beyond traditional banking, including onboarding customers for e-commerce platforms, password-free login, and issuing under-collateralized loans. In addition to this wallet being compatible with Polygon’s wallet it also supports zkEVM Incorporates the Identification Toolkit which enables users to verify data while keeping it encrypted and disguised from the verifier. The zkEVM will be released at the end of this month according to the development team at Polygon Labs.

Acceptance & Support

Support for Polygon ID has already been shown by a number of polygon based crypto projects such as Grail, DePay Kaleido Fractal and Clique. This indicates that organizations may no longer face challenges related to user data upkeep due to people having more say over their own identities and more options for how they share and use their personal information when requested by public or private sectors.

Conclusion

In conclusion, it is clear that with tools such as Polyon ID we can progress towards achieving greater digital trust in online activities while also protecting our privacy on chain through zero knowledge rollups (zK Proofs). With its acceptance already being seen by many crypto projects it could bring great value when dealing with matters related to KYC procedures or other uses mentioned above.