Privado ID, formerly known as Polygon ID, has spun off from Polygon Labs to focus on privacy-centric digital identity solutions. This move addresses the growing issue of identity theft and fraud, which cost $43 billion in 2022, affecting 40 million U.S. adults.
Privado ID offers a decentralized, blockchain-based platform that ensures private interactions and mitigates AI-generated misinformation risks. Users have full control over their data, leveraging cryptography and zero-knowledge proofs to verify personal details without exposing sensitive information. The platform also supports compliance verification, incentive distribution, and interaction with tokenized assets.
“Privado ID’s technology will revolutionize digital interactions by enhancing privacy, user control, and interoperability,” said co-founder Antoni Martin. This innovation aims to lower the cost of trust and reduce identity theft, fraud, and misinformation, marking a significant step forward in digital security.
