Privado ID: The Latest Solution in Fighting Identity Theft and Expanding Reach

Polygon Labs, a leading blockchain technology company, has made a significant move in the fight against identity theft with the launch of Privado ID. This new project, developed by the same team behind Iden3 Protocol and PolygonID, aims to provide a global solution for digital identity and reputation.

Privado ID puts users in control of their own data by allowing them to verify credentials like age and qualifications without sharing sensitive details. This is achieved through the use of cryptography and zero-knowledge proofs, addressing the need for privacy in the Web3 era. The protocol-agnostic design of Privado ID allows it to integrate with any EVM-compatible blockchain, with plans to support non-EVM blockchains in the future.

The team behind Privado ID boasts deep blockchain expertise, with Polygon co-founders David Schwartz and Antoni Martin leading the charge as CEO and COO, respectively. Jordi Baylina, a key figure in creating Polygon zkEVM, provides technical advice, while Sandeep Nailwal, another Polygon Labs co-founder, supports the team as a growth advisor.

In a recent press release, Antoni Martin emphasized Privado ID’s commitment to privacy, user control, and interoperability, stating that the technology has the potential to revolutionize how individuals, agents, and organizations interact in connected spaces. The partnerships formed by Privado ID with established institutions and multinational banks aim to develop interoperable and compliant identity frameworks, ensuring that only eligible participants can access specific DeFi protocols with verifiable credentials.

Privado ID has also integrated with the Verax attention registry on Consensys’ Linea zkEVM chain, improving cross-chain identity verification and helping applications establish user trust using verified data. Additionally, Privado ID has joined Avail, a modular blockchain project from Polygon Labs that recently raised $43 million in a Series A funding round co-led by Peter Thiel’s Founders Fund.

Overall, Privado ID’s launch marks a significant step forward in the realm of digital identity and reputation management, with its emphasis on privacy, user control, and interoperability setting it apart as a key player in the Web3 ecosystem.