PANews June 13th news, according to The Block, the digital identity solution Polygon ID has been separated from Polygon Labs and renamed Privado ID, aiming to expand beyond the Polygon network. This is to meet the global demand for digital identity and reputation solutions that can handle online and on-chain data in an era where identity theft, fraud, and AI-generated content are increasing.
The protocol of Privado ID is protocol-agnostic, developed by the team behind Iden3 protocol and PolygonID, empowering individuals with control over their own data, using encryption technology and zero-knowledge proofs to verify age, qualifications, and other details without sharing personal information. The project also states that it supports W3C identity standards, is compatible with any EVM-compatible blockchain, and will support non-EVM blockchains in the future. The team of Privado ID includes co-founder of Polygon, David Schwartz, and Antoni Martin as CEO and COO, Jordi Baylina as a key figure in the development of Polygon zkEVM as a technical advisor, and Sandeep Nailwal, co-founder of Polygon Labs, as a growth advisor.
Privado ID is not the only standalone project launched by Polygon. The modular blockchain Avail was separated from Polygon Labs in March 2023. As part of this, co-founder Anurag Arjun resigned and acquired Avail, which recently raised $43 million in a Series A financing led by Peter Thiel's Founders Fund.