cheqd and Dock Merge Networks to Push Adoption of Decentralized Identity

Decentralized identity infrastructure companies cheqd and Dock have announced a merger of their networks, aiming to accelerate the adoption of decentralized identity (DID) systems.

The partnership will see Dock’s entire client base and its Certs platform migrate to the cheqd network, enabling customers to access the combined features and technologies of both companies. This includes cheqd’s Creds, a self-sovereign identity solution that allows users to share personal information securely, and Dock’s blockchain-based ID ecosystems designed for KYC, biometric security, and background checks.

“This alliance is a clear signal that cheqd is the home for DID, with Dock and its clients joining our ecosystem of partners and clients, as well as the merging of two communities who firmly believe in the vision of DID,” said cheqd co-founder and chief executive Fraser Edwards.

The merger also includes a token swap, in which Dock’s native DOCK tokens will be exchanged for cheqd’s CHEQ tokens to facilitate integration between the two networks. This newly unified network will support a vast number of decentralized identifiers (DIDs), multi-SDK integration, and a suite of open-source tools for seamless integration with decentralized applications.

Both companies envision their combined ecosystem serving industries such as financial services and government identity solutions, with Edwards emphasizing that the partnership offers one of the most comprehensive DID solutions available.

Dock’s CEO, Nick Lambert, highlighted that the merger will allow his team to focus on developing new features, such as mobile driver’s licenses and cloud wallets, while cheqd manages the underlying network infrastructure.

In a recent episode of the ID Talk podcast, Frances Zelazny, co-founder and CEO of Anonybit, discussed her company’s decentralized approach to biometric identity. Anonybit, a relatively new startup, has quickly gained attention and significant investment for its decentralized approach to digital identity. Its core solution is a biometric authentication system that enhances security by breaking a user’s biometric template into separate ‘shards’ and distributing them across multiple servers.

Source: CryptoDaily

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September 19, 2024 – by Ali Nassar-Smith