[Zug, Switzerland] Concordium, a Swiss-based blockchain company, has partnered with Digitalsocial.ID Ltd to develop a user-centric identity management solution that aims to authenticate users’ digital actions and increase trust in digital interactions. The solution, called Digitalsocial.id (DSID), will leverage blockchain infrastructure to authenticate users’ identities and allow them to collect digital attestation tokens, which will be aggregated into a measurable and comparable personal score. These scores will reflect various aspects of the user’s digital life and provide provable credentials, integrity and trustworthiness without revealing sensitive personal information.
Digitalsocial.ID prioritizes self-sovereignty and security as core values for its project and found its perfect partner in Concordium, the only layer-1 blockchain with a built-in self-sovereign ID framework. The solution will enable users to mint social accreditation tokens as a reward for their actions or status on different platforms. These Social Accreditation Symbols (SATs) can be used as verifiable on-chain credentials when proving your credit score, social media presence, or involvement.
DSID will also feature curated ecosystem partners that will have their own tokens on which users can store reputation data, ensuring that partner businesses receive significant benefits and user behavioral incentives. In the DSID Hub, users can check the collection of dynamic SAT tokens. A leaderboard for all DSID Ecosystem partners and service providers will be listed in the Hub to easily identify user reputation use cases.
The partnership between Concordium and Digitalsocial.id (DSID) is a step towards a safer, more authentic and ethical future internet. A verified on-chain social identity is a key element of the Web3 vision, and every user will benefit from the persistent proof of trust that Digitalsocial.ID and Concordium can verify. The partnership is also aimed at combating deep fake technology and digital fraud.
Simon Molitor, co-founder and CEO of Digitalsocial.ID, said that navigating Web3 will require sophisticated identity solutions that are not yet in place elsewhere. “We need to rethink identity to integrate it into a world of decentralized applications and digital wallets. Concordium is one step ahead – and thus a great place for DSID to build on. Concordium’s chain identity layer helps store our reputation on a safe way measurements with the right person,” he added.
Torben Kaaber, Head of Business Solutions at Concordium, expressed his excitement about the partnership and said that the mission and values of Digitalsocial.ID are strongly aligned with Concordium’s. He also stated that a number of Web2 and Web3 services will recognize the value that DSID can add to their own customer experience, and the partnership between the two companies will be great.
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