cheqd and Dock join forces to drive decentralised ID adoption

cheqd and Dock, two decentralized identification platforms (DID), have introduced a strategic partnership to speed up the adoption of DID options, as reported to Finbold on Wednesday, September 18.

The combination creates a community of greater than 100,000 customers and lots of of energetic companions.

Dock and cheqd decentralized ID options

Dock is thought for supporting identification answer suppliers with know-your-customer (KYC) processes, background checks and biometrics by serving to them create verifiable digital credentials.

The platform improves buyer onboarding, accelerates transactions and will increase operational effectivity.

Likewise, it affords a strong software programming interface (API), easy-to-use internet functions and a safe ID pockets infrastructure utilized by greater than 600 clients.

Then again, cheqd operates an enterprise-level infrastructure for constructing reference ecosystems and enabling clients to handle and monetize their information.

With greater than 80,000 mainnet addresses and 200 companions, cheqd is tackling a few of the key boundaries to digital privateness, compliance and scalability throughout numerous industries.

What the collaboration between Dock and cheqd delivers

By combining cheqd’s fee infrastructure with Dock’s versatile software-as-a-service (SaaS) platform, the partnership is poised to ship scalable options for industries starting from finance to authorities companies.

This partnership will see Dock’s mainnet and testnet site visitors migrate to the cheqd community, changing the DOCK token to CHEQ.

Nevertheless, each platforms proceed to function independently.

Fraser Edwards, CEO and co-founder of cheqd, emphasised the significance of the partnership, stating that it creates essentially the most complete stack for decentralized ID:

“The partnership between Dock and Cheqd creates essentially the most full decentralized ID (DID) software program stack, which incorporates code-less administration and privacy-protecting funds for verifiable credentials. This alliance is a transparent sign that cheqd is the house for DID, with Dock and their clients becoming a member of our ecosystem of companions and clients, in addition to the merger of two communities that firmly consider in DID’s imaginative and prescient.”

The expansion of the decentralized ID market

The DID market is predicted to develop considerably over the following 5 years, with an anticipated CAGR of over 90%, pushed by rising regulatory necessities equivalent to eIDAS laws in Europe.

The joint cheqd and Dock community will present intensive help for DIDs, with multi-SDK integration and open supply instruments.

To make sure their options meet the wants of each governments and enterprises, each corporations will stay dedicated to regulatory compliance, together with the EU Digital Identification Framework and eIDAS 2.0.

With the help of a robust management workforce, together with cheqd’s Fraser Edwards and Ankur Banerjee, alongside Dock’s Nick Lambert and Elina Cadouri, the alliance is poised to drive mainstream adoption of decentralized identification.

Different upcoming improvements introduced by the 2 companions, equivalent to cheqd’s MiCA-compatible stablecoin and Dock’s cellular driver’s license and cloud pockets, will even additional improve the ecosystem.