[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 enhance confidence in digital interactions. The solution, called Digitalsocial.id (DSID), will leverage the blockchain's 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 different aspects of the user's digital lives 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 tokens (SATs) can be used as on-chain verifiable credentials when proving credit scores, social media presence, or involvement.
DSID will also feature curated ecosystem partners who will have 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, 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.
The partnership between Concordium and Digitalsocial.id (DSID) is a step towards 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 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 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," 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 those of Concordium. He also stated that numerous 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 a great one.
