April 18th - Zug, Switzerland - Concordium announces its partnership with Digitalsocial.ID Ltd help users authenticate their digital actions and enhance confidence in digital interactions using blockchain technology.
The partners will co-development and launch a novel user-centric identity management solution called Digitalsocial.id (DSID). DSID will allow users to collect digital attestation tokens to prove their reputation and aggregate them into a measurable and comparable personal score. These scores will reflect different aspects of the user's digital lives and provide provable credentials, integrity, and trustworthiness without revealing sensitive personal information.
Digitalsocial.ID identified self-sovereignty and security as core values for their project and found its perfect partner in Concordium, the only layer-1 blockchain with a built-in self-sovereign ID framework. Concordium was designed to give internet users control over the personal information they choose to share while safekeeping their privacy in every other aspect.
DSID will leverage the blockchain’s infrastructure to authenticate users’ identities and allow them to mint social accreditation as a reward for their actions or status on different platforms. The collected social accreditation tokens (SATs) can be used as on-chain verifiable credentials when proving credit scores, social media presence, or involvement.
Additionally, curated ecosystem partners will get their own tokens that users can store reputational data on, ensuring that partnering businesses receive substantial advantages and user's behavioral incentives.
In the DSID Hub, the dApp of the DSID Ecosystem, users can check their collection of dynamic SAT tokens. A leaderboard of all DSID Ecosystem partners and service providers will be listed in the Hub to easily identify use cases for users’ reputations.
Signaling a move towards a better digital world and a safer, more authentic and ethical internet of the future. A verified on-chain social identity is a central element of the Web3 vision, and every user will benefit from the abiding proof of credibility that Digitalsocial.ID and Concordium can attest to. The partnership between Concordium and Digitalsocial.id (DSID) is the latest step taken to combat deep fake technology and digital fraud.
Simon Molitor, co-founder, and CEO of Digitalsocial.id, says: “We at DSID have a simple conviction: navigating Web3 will require sophisticated identity solutions that are not in place yet elsewhere. We need to re-think identity to integrate it into the world of decentralized applications and digital wallets. Concordium is one step ahead - and hence a great place for DSID to build on. Concordium's on-chain identity layer helps to securely store our reputation metrics with the right individual.”
Torben Kaaber, Head of Business Solutions at Concordium, says: “The mission and values of Digitalsocial.id are strongly aligned with ours at Concordium. The small but highly skilled team leverages Concordium’s strengths to showcase how convenient and beneficial digital trustworthiness can be and we are thrilled to welcome them to our ecosystem. We are convinced that numerous Web2 and Web3 services will recognize the value DSID can add to their own customer experience and are looking forward to a great partnership.”
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