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Decentralized ID the key to mainstream DeFi adoption—Quadrata co-founder

by Repost Admin October 12, 2022, 3:43 am 2k Views

Decentralized identities would open Web3 to a range of services requiring personal information and allow platforms to offer tailored products, according to the CEO of Quadrata.

Decentralized identity (DID) and compliance services will become a “key infrastructure” to the success of decentralized finance (DeFi) and the transition of real world financial assets onto the blockchain according to Fabrice Cheng, CEO and co-founder of Quadrata.

Speaking with Cointelegraph, Cheng said the key driver behind the demand for DID will come from Web3 protocols, which will utilize the DID of users to build better products that are “catered” to existing customers and also “targets new sets of customers.”

Quadrata provides a Web3 identity solution which allows users to perform KYC compliance without sharing personal data, it recently partnered with Ethereum Layer-2 scaling solution Polygon to integrate its Web3 Passport Network.

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