With its Polygon ID, blockchain is working on solving the “issue of digital trust.”
Polygon, a blockchain platform that enables blockchain networks to connect and scale, has rolled out a zero-knowledge decentralized identity solution called Polygon ID.
According to the blog post shared on March 1st, Polygon ID offers a set of tools allowing developers to “build self-sovereign, decentralized and private identity solutions.”
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In its announcement, Polygon stated that its decentralized identity solution is a “fundamental change in the Internet’s trust model.” Moreover, the team behind Polygon added:
For businesses leveraging Polygon ID, this may mean the end of headaches dealing with user data management. For individuals, it means greater control over their own identity and discretion in how they use their personal data to answer questions from institutions and private organizations.
With the public release of Polygon ID, the team behind the blockchain is also rolling out four new tools to the “SSI infrastructure,” including Verifier SDK, Issuer Node, Wallet SDK & Wallet App. Based on Polygon, these solutions will help developers to “integrate decentralized identity into their applications” and unlock new pathways for various compliance requirements.
Polygon highlighted that its decentralized identity solution can be used for passwordless login, Know-Your-Customer programs, e-commerce onboarding, and “as a tool to issue undercollateralized loans” by banks.
In its announcement, Polygon highlighted that companies like Bloock, the Sandbox, WIW, Kaleido, and Grail are already building with Polygon ID. Regarding the matter, Polygon noted:
Today, collaborators are building using Polygon ID’s Identity Infrastructure, all of whom are pushing the boundaries of digital identity in Web3 by providing users security without compromising their privacy.
It is worth noting that Polygon ID saw daylight nearly 12 months after it was teased by Polygon.
Polygon continues to work on various solutions. In the middle of February, Polygon announced that it would launch a zero-knowledge Ethereum Virtual Machine (zkEVM) Mainnet Beta version on March 27th.
