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The Future of Verifiable Credentials? Digital Identity Market on the MarchThe startup building infrastructure for trusted data markets on the Cosmos blockchain, cheqd, has confirmed its attendance at the upcoming ETHDenver 2024, one of the biggest events in the crypto calendar.
The Web3 BUILDathon gets underway on February 23 and concludes on March 3.
The Future of Verifiable Credentials?
Representatives of cheqd, which develops payment infrastructure for decentralized identity and trusted data economies, will participate at a Frictionless side event on March 1 alongside leading experts, developers, and entrepreneurs operating in the Cosmos ecosystem.
High on the agenda will be cheq’s Credential Service with its production-ready APIs for issuing digital credentials and building trusted data markets. Last year cheqd added a new feature to the service, Credential Payments, which allows individuals and organizations to get paid for providing their identity data.
Topics up for discussion at Frictionless will include ‘The Role of Privacy in Cosmos’ and ‘The Conflict of Sovereignty’, with cheqd outlining the importance of decentralized identity (DID) and verifiable credentials (VCs) in today’s web3 landscape.
As well as participating in panel discussions and developer workshops, cheq is sponsoring two events at this year’s ETHDenver: DoraHacks Appchain Day on February 27, where it will host a workshop to showcase the benefits of Credentials Services and Creds, its community growth platform for issuing, holding and sharing digital credentials to build portable reputation, and the sold-out ATOMDenver² on February 28.
Co-founder and CEO Fraser Edwards, as well as Senior Product Manager Ross Power, will participate in panels at the latter event, which is being co-sponsored by 15 different Cosmos protocols including Akash Network and Cosmoverse. Edwards’ panel slot is for ‘A New Era of Gaming and Metaverse Identities’ while Ross will share his thoughts in a discussion entitled ‘Cosmos Governance: A Bug or a Feature’.
ETHDenver represents a valuable brand-building exercise for cheqd which recently published a comprehensive roadmap for the rest of 2024. The company is in the midst of exploring use-cases in AI and ad-tech for verifiable credentials and pursuing partnerships with app-builders who can benefit from integrating its privacy-preserving payment network and self-sovereign identity (SSI) solutions.
Digital Identity Market on the March
The digital identity and verifiable credentials markets are growing rapidly. One study, by Juniper Research, suggests revenue for vendors will exceed $53 billion by 2026, doubling from $26 billion just three years ago. The increase is being driven by growing demand for digital onboarding frameworks implemented to combat identity fraud.
This year’s ETHDenver promises to be the biggest ever, with countless live workshops, panels, presentations, mini-summits and side events. Last year’s hackathon won’t be easy to follow, though: it attracted a record attendance of over 48,000, up 50% on the previous year.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
