Traditional KYC and AML regulations have often forced companies to comply, without having the right tools to do so. Simply storing users’ personal information led to the creation of security honeypots which haven’t gone unnoticed by hackers. Web3 solutions like Privado ID aim to cryptographically prove certain traits from a user’s personal data, without disclosing it to the enquirer. This is usually made possible through zero knowledge proofs which allow users to store their personal data on their own device and only exchange verifiable credentials with trusted issuers. City of Buenos Aires has adopted a similar implementation through their Quark ID system, a digital trust framework that creates a new digital identity system, giving people control over their information.
Topics covered in this episode:
- Evin’s background and founding Disco
- Polygon ID acquisition and blockchain agnostic decentralized IDs
- Diego’s background, from private to public practice
- Privado ID and its registry of reputation issuers
- Use cases, DevEx and UX
- KYC and regulations
- Buenos Aires digital ID system
- Real world applications of Quark ID
- UX frictions and solutions
- ZK verification
- Societal impact and adoption
- Ethical considerations around DIDs
- The role of blockchains in other real world applications
Episode links:
Sponsors:
- Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io
- Chorus One: Chorus One is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one
This episode is hosted by Friederike Ernst.
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