Blockchain
cheqd announces multiple partnerships with market leading self-sovereign identity vendors ahead of mainnet launch
cheqd, a technology company building a decentralised network enabling individuals and organisations to take full control of their data, has partnered with market leading self-sovereign identity (SSI) vendors ahead of its mainnet launch in the coming days.
SSI or decentralised identity, is an emerging disruptive technology for the exchange of authentic and trusted data, including people and companies in a more secure manner, giving individuals ownership and control over their own data. Gartner recognises SSI’s disruption of identity: “Decentralised identity (DI) and privacy-enhanced verifiable claims/credentials will disrupt identity… They reinvent business processes to enable new business models and the creation of new data marketplaces.”
cheqd’s network is built for SSI vendors to disrupt established identity paradigms and create new authentic data marketplaces. Each SSI vendor will utilise cheqd’s network for payment rails, never-seen-before commercial models, open standards and interoperability within a decentralised governance framework to advance their commercial strategies and technical roadmaps.
The companies partnering with cheqd are as follows:
DanubeTech: https://danubetech.com/
DanubeTech is a leader in the field of digital identity, including decentralised identifiers (DID), verifiable credentials, and related technologies. Markus Sabadello, DanubeTech’s CEO and founder, on cheqd as the next step in the evolution of SSI networks:
“Danube Tech has been a pioneer in DID technologies, and we see cheqd as a promising next step in the evolution of SSI networks. Operating a cheqd node will add value to our mission of enabling global interoperability of decentralised identity infrastructures.”
Spherity: https://spherity.com/
Spherity builds decentralised identity management solutions to power the 4th industrial revolution. Carsten Stöcker, Spherity’s CEO, commented on cheqd’s payment rails and identity functionality:
“As decentralised identity and data sovereignty become more prominent, our clients are asking how the underlying ledgers and payments for transactions can work. Joining cheqd as a node operator allows us to explore the current and emerging ways that decentralised identity and authentic data are changing how information moves and where new commercial opportunities lie.”
DIDx: https://www.didx.co.za/
DIDx is a leading self-sovereign identity and verifiable credentials exchange based in South Africa. Lohan Spies, DIDx CEO, and early partner of cheqd explains why DIDx joined the cheqd network early:
“DIDx is delighted to be part of the mainnet launch of the cheqd network as a founding validator. The cheqd network unlocks the business models of SSI with integrated payments and is a crucial step towards decentralisation and providing new capabilities.”
Northern Block: https://northernblock.io/
Northern Block is a technology provider enabling global organisations to build digital trust. CEO, Mathieu Glaude, on partnering with cheqd:
“Northern Block is a digital trust ecosystem enabler, working with governments, enterprises and small businesses. We’re excited to see the momentum in the self-sovereign identity space, with both top-down and bottom-up use-cases being commercialised. We’re happy to be partnered with cheqd to support the growing community that’s working on innovative Web 3 solutions for identity.”
Finema: https://finema.co/
Finema empowers users and enterprises to control their own identities and data, where identities will become enablers for future data exchange. Pakorn Leesakul, Finema’s CEO, will stand up a cheqd node in Thailand:
“Together with cheqd, we are looking forward to building a trust fabric that serves as a feasible and solid foundation for as many use cases of verifiable credentials as possible. The future of SSI hinges upon convincing the public of its market viability. The partnership is part of that effort.”
TruuID: https://www.truu.id/
TruuID creates trusted digital passports for healthcare professionals, for smarter identities, simpler relationships, and better care. Manreet Nijjar, TruuID’s CEO, on the flexibility cheqd’s tokenised solutions offer:
“We believe to achieve digital trust we need work in an open and collaborative manner. We are therefore very excited to join the cheqd network. Fraser and the team’s work will allows us to build for the future, giving us the flexibility to create token and non-tokenised solutions while sticking to our core principles around data ownership, privacy and consent.”
Tykn: https://tykn.tech/
Tykn envision a world where identities are portable, private and secure, so that no one has to lose access to their identity ever again. Khalid Maliki, Tykn’s COO, believes a partnership with cheqd will support Tykn’s goals:
“We’re happy to support cheqd as we’re aligned in the vision that identity data must be private and secure. Tykn has spent the past 5 years helping people access services faster while being in control of how their data is used. We believe that cheqd’s network infrastructure can help Tykn’s SSI dev tools pave the way for global self-sovereign identity adoption.”
Anonyome Labs: https://anonyome.com/
Anonyome, a well known creator of the Sudo platform, provides enterprise software developers with capabilities to add identity, privacy and cyber safety features to their applications. Paul Ashley, Anonyome’s Co-CEO, sees cheqd’s strategic value for both payment rails and DI use-cases:
“Decentralised identity is a core foundational technology of the Sudo Platform allowing transition from current privacy invasive to new privacy preserving models. To support enterprise DI use cases a scalable distributed ledger with a strong token based financial model is a necessity – and cheqd is the first ledger to provide both of these capabilities.”
RANDA Solutions: https://randasolutions.com/
RANDA’s tools acquire, manage, and utilise many types of education intelligence and is a pioneer in education technology. Marty Reed, CEO, sees partnering with cheqd as joining the next generation of credential networks:
“RANDA is excited to participate in this next generation credential network with true considerations for interoperability. We see the cheqd network as a great addition to the overall credential ecosystem and look forward to its future on a solid foundation of partners and technologies.”
Domi Labs: https://domilabs.io/
Domi’s technology is built using self-sovereign identity technology to protect the holder’s data and streamline the rental process, Domi Labs is based out of Berlin. Katrie Lowe, Domi Lab’s CEO, on joining cheqd’s network:
“Domi Labs is a digital identity startup leading implementation of sSelf-sovereign identity within the real estate sector. Verifiable credentials present an enormous opportunity to reshape the way business and customers establish trust. Domi Labs is excited to be an early partner of cheqd as innovative financial pathways will be key to ensuring the development of a robust verifiable credential ecosystem.”
esatus: https://esatus.com/
esatus, the creator of the SOWL platform, uses self-sovereign identity for login and access rights. André Kudra, CIO of esatus, comments on the cheqd partnership:
“esatus is interested in gaining first hand experience with cheqd’s payment rails. esatus built its SSI experience since 2015 and now has a huge technology base at hand. esatus’ SOWL suite enables enterprise SSI and can be made workable on cheqd’s network and stack quickly. This presents exciting future opportunities in our partnership.”
Serto: https://www.serto.id/
Serto provides easy-to-use decentralised identity and connected data solutions for enterprises. Serto and cheqd are entering a partnership where cheqd will integrate into Serto Search and Serto Schemas, and Serto will validate the cheqd network to expand web3’s trustless data ecosystems. Evin McMullen, Serto’s co-founder, remarks:
“Serto is excited to partner with cheqd to expand Web 3’s trustless data ecosystem. Broader adoption of decentralised identifiers and verifiable credentials is the key to unlocking the future metaverse, and together we are leveraging these actions to scale crosschain interoperability.”
Evernym: https://www.evernym.com/
Evernym, cheqd’s lead investor and go-to-market partner, is the world’s leading platform for verifiable credentials. Drummond Reed, Chief Trust Officer of Evernym; co-Chair, ToIP Governance Stack Working Group; co-author, “Self-Sovereign Identity” believes cheqd’s governance framework and focus on interoperability as central to the networks success:
“As SSI matures we’re seeing innovation at every layer of the Trust Over IP stack. cheqd is the only ToIP Layer 1 public utility I’ve seen with a governance framework designed explicitly to evolve from permissioned to permissionless. Add to that cheqd’s commitment to interoperability across all SSI ecosystems and its unique focus on SSI-based value exchange and you have one of the most exciting projects in SSI today.”
cheqd’s will also be launching it’s mainnet with key SSI start-ups Doshy, KnownPrivacy, AML First, Crucible, WOPLLI who will be announced in the second SSI cohort announcement along with other key SSI vendors in the forthcoming weeks.
Tobias Halloran, cheqd’s Head of of Partnerships, adds:
“It is our collective ambition to create a network that accelerates SSI’s future, therefore it is a key priority for cheqd to fulfil our commitment to our SSI partners and work from them backwards. With our focus on payment rails, commercial models, decentralised governance, interoperability and open standards we can provide our partners with the tools and network to accelerate SSI adoption globally.”
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Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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