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cheqd announces multiple partnerships with market leading self-sovereign identity vendors ahead of mainnet launch

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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:

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DanubeTechhttps://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.”

Spherityhttps://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:

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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.”

DIDxhttps://www.didx.co.za/

DIDx is a leading self-sovereign identity and verifiable credentials exchange based in South AfricaLohan 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/

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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.”

Finemahttps://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.”

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TruuIDhttps://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:

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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 Labshttps://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/

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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 BerlinKatrie LoweDomi 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.”

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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:

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“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.

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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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Alpha Sigma Capital Research Releases May Report on ASC AI Index

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Blockchain

Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet

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Squad Labs announced that its Series A funding round, led by Electric Capital with participation from RockawayX, Coinbase Ventures, L1D, Placeholder, and Mert Mumtaz, will propel the launch of its Fuse smart wallet. The company aims to establish Fuse as a premier solution for securing and compounding personal digital wealth amid the growing onchain economy.

According to the company’s news release on June 12, smart accounts and smart wallets are gaining traction across blockchains as they offer a more intuitive, secure, and programmable user experience. Fuse abstracts seed phrases and provides features like wallet recovery, 2FA capabilities, and enterprise-level security for personal custody, simplifying the choice of storing digital wealth on-chain.

In addition to securing funding, Squad Labs also announced the public testing launch of Fuse on iOS. This move is part of their strategy to expand accessibility and refine functionality ahead of a full market release.

Meanwhile, a recent report from PYMNTS Intelligence explores blockchain’s role in enhancing cross-border payments. It suggests that integrating blockchain can streamline payment processing, enable digital-to-fiat currency conversion, and introduce stablecoins for faster and cost-effective cross-border transactions. Business-friendly decentralized finance (DeFi) solutions further automate and secure transactions via smart contracts, reducing dependence on traditional payment systems and enhancing security and transparency.

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The report underscores the significance of educating businesses and end-users about the benefits of blockchain-based cross-border payments. It advocates for partnerships with FinTechs and proactive engagement with financial institutions to drive adoption and improve industry-wide support for blockchain technologies in payments.

Overall, Squad Labs’ funding round and Fuse’s development represent strategic advancements in blockchain technology aimed at enhancing digital wealth management and transforming cross-border payment landscapes.

Source: pymnts.com

The post Blockchain Firm Squad Labs Raises $10 Million for Smart Wallet appeared first on HIPTHER Alerts.

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