ENS Labs, the organization behind the Ethereum Name Service (ENS), has partnered with Dentity, a leading digital identity solution, to bring verifiable credentials onchain, advancing real-world access for Web3 users. This collaboration allows ENS users to securely link their onchain identities with real-world identities, maintaining control over the information they wish to share without storing Personally Identified Information (PII) on the blockchain. This integration enables users to leverage their verified credentials for various real-world services, bridging the gap between offchain and onchain identities.
As global regulatory bodies enforce Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance for decentralized projects, this partnership provides a timely solution. The integration utilizes self-sovereign identity standards like W3C Verifiable Credentials and Decentralized Identifiers (DIDs), enabling ENS users to prove their identity securely for third-party partners while maintaining the privacy and decentralization core to blockchain technology.
This initiative not only broadens the capabilities of ENS in the Web3 ecosystem but also prepares decentralized protocols for the increasing demand for real-world identity verification in various sectors, from financial services to healthcare. The partnership aligns with the growing need for digital identity solutions that are compliant with global regulations while empowering users with control over their personal data.
Source: cointribune.com
