We are excited to announce that digitalsocial.id has become our most recent addition to our track record. digitalsocial.id is a novel, user-centric identity management solution that enables people to build a measurable reputation. - Author: Albert Sugiharto
In today's interconnected world, digital identity and reputation are increasingly important, especially with the rise of decentralized applications (dApps). These apps facilitate direct transactions between individuals without intermediaries, making digital identity and reputation even more significant. The dApps market is predicted to reach $368 billion by 2027, with a CAGR of 56.1% between 2020 and 2027, according to Emergen research, while the decentralized identity market, valued at $0.65 billion in 2022 , is projected to grow at a compounded annual rate of 90.3% until 2030, according to Grand View Research.
However, the importance of digital identity has created new challenges, including a lack of standardization and interoperability in the Web3 space. This lack of standardization and interoperability creates confusion and fragmentation in determining the trustworthiness of an identity. From a business perspective, the emphasis on privacy means rising trust issues, as they cannot assess the reputation and trustworthiness of wallet owners. From a user perspective, the multitude of protocols and platforms make it challenging to establish a solid reputation without having to go through the standard AML/KYC process, which may reveal unwanted data to business providers. Overall, there is a need to create a trustworthy digital identity and reputation management system that benefits both parties.
digitalsocial.id addresses the challenge of establishing trust in web3 by utilizing a non-transferable reputation. Their solution bridges the gap between complete anonymity and verifiable trustworthiness of digital identities by incorporating the social identity on-chain, which enhances the credibility of anonymous on-chain interactions by providing an irreversible proof-of-credibility. Users can take ownership of their digital reputation and leverage it to earn incentives when engaging with other online platforms. Meanwhile, businesses can benefit from having reputable users on their platforms without the need for tedious verification processes.
Here is how digitalsocial.id makes it easy to build and leverage a digital reputation:
Take a look at how digitalsocial.id incentivizes good online behavior with curated partners such as charity platforms:
digitalsocial.id ensures all your digital activities count toward your digital reputation.
The digitalsocial.id team possesses a broad range of expertise in both business and technical skills, combining sales and marketing knowledge with web3 development know-how. Simon Molitor, co-founder and CEO, has a vast background in sales and business development across different industries, successfully combining his technical understanding with exceptional business acumen. Pierre Stoll, co-founder and CMO, is a marketing expert who spearheaded various marketing initiatives and headed his own marketing agency for over four years. Mohak Malhotra, CTO, is an accomplished Web3 developer with experience working for major tech companies and has won several awards in blockchain hackathons (including ETH Lisbon and ETH Dever). Together, the digitalsocial.id team aims to foster trust for anonymous interactions on Web3 and promote positive behavior. Learn more about digitalsocial.id on their Website, LinkedIn and Twitter.
Contact: Simon Molitor, co-founder, simon@digitalsocial.id
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