The Polygon ID has been rebranded to the Privado ID. This change reflects their broader ambitions beyond Polygon networks. The company specializes in digital identity solutions, leveraging advanced technologies like cryptography and zero-knowledge proofs (ZKPs).
These tools allow individuals to verify personal details such as age and qualifications without compromising sensitive information.
The rebranding coincides with Privado ID’s initiative to broaden its scope beyond the Polygon networks. Initially launched as Polygon ID in March 2023, Privado ID, led by the Iden3 Protocol team, is now expanding its tools and infrastructure.
Founded by David Schwartz and Antoni Martin, with technical guidance from Jordi Baylina and strategic advice from Sandeep Nailwal, Privado ID focuses on enhancing privacy, user control, and interoperability in digital interactions.
Their technology adheres to W3C identity standards and supports integration with various blockchain platforms, both public and private.
Privado ID is actively partnering with multinational banks and financial institutions to pilot their solutions. These collaborations aim to establish secure and compliant frameworks for digital identity management, crucial in combating identity theft and fraud, which cost the US $43 billion in losses in 2022 alone.
The company envisions a future where its technology transforms how individuals and organizations connect and operate online. By prioritizing privacy and technological innovation, Privado ID aims to set new standards in digital identity verification and protection, ensuring safer and more transparent interactions across digital platforms.
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