cheqd and Dock, two leading decentralized identity infrastructure companies, have merged their networks to promote the broader adoption of decentralized identity (DID) systems.
As part of the partnership, Dock’s entire client base and its Certs platform will migrate to the cheqd network, providing users access to both companies’ advanced technologies. This includes cheqd’s Creds, a self-sovereign identity solution allowing users to securely share personal information, and Dock’s blockchain-based ID ecosystems designed for Know Your Customer (KYC), biometric security, and background checks.
The merger involves a token swap, where Dock’s native DOCK tokens will be exchanged for cheqd’s CHEQ tokens, streamlining the integration between the networks. The unified network will support a wide range of decentralized identifiers (DIDs), multi-SDK integration, and open-source tools for decentralized applications.
Both cheqd and Dock aim to serve industries such as financial services and government identity solutions, with cheqd CEO Fraser Edwards highlighting the partnership as a major step in providing a comprehensive DID solution.
Dock CEO Nick Lambert noted 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.
Source: CryptoDaily
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September 19, 2024 – by The Mobile ID World Editorial Team
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