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<ul><li><keyword id="2462624" type="General" weightage="100" keywordseo="polygon" source="Orion">Polygon</keyword> launches a new solution for web 3.0 that could help users pass identity verification without revealing personal information </li><li>Polygon ID is a digital privacy-focussed identity platform in development, based on zero-knowledge proof. </li><li>It is expected to simplify authentication on upcoming blockchain-based Web3 platforms. The complete<a href="https://polygon.technology/polygon-id/"> </a>platform is expected to be ready in the third quarter of 2022.</li></ul>It is expected to simplify authentication on upcoming blockchain-based Web3 platforms. The complete<a href="https://polygon.technology/polygon-id/"> </a>platform is expected to be ready in the third quarter of 2022. The Polygon network, a decentralized app (Dapp) layer for Ethereum, has announced that its “zero-knowledge” (ZK) digital identity platform<a href="https://blog.polygon.technology/introducing-polygon-id-zero-knowledge-own-your-identity-for-web3/"> called Polygon ID</a> will be ready before this year ends. Polygon is working on the new ZK-proof identity solution, which will help users guard their privacy on blockchain-based Web3 platforms. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> Polygon ID is expected to be used by organisations and businesses, for identity and trust management purposes, such as <keyword id="167905" type="General" weightage="50" keywordseo="kyc" source="Orion">KYC</keyword> (Know Your Customer) and digital wallet. At its essence, users can authenticate themselves to blockchain-based applications, without providing passwords or data to every such application individually. <div type="twitter" handle="MihailoBjelic" handlename="Mihailo Bjelic" image="http://pbs.twimg.com/profile_images/981717975077146624/Eo7SZLC6_normal.jpg" favoritecount="639" retweetcount="126" status="This is a big one: We are announcing Polygon ID, the first ZK-based self-sovereign identity.Polygon aims to becom… https://t.co/y9YVhLCPtp" createdat="1648578779000" id="1508874878744674309"></div> What could a Polygon ID based Web3 look like? The term “zero-knowledge proof” refers to the cryptographic proof on a blockchain, that allows for verifying a person’s identity, without needing any documents or details. Such a facility could save time for users and satisfy government-mandated KYC verification norms. Conceptually, this could be the blockchain-enabled<a href="https://en.wikipedia.org/wiki/OpenID"> OpenID equivalent</a> to the upcoming <a href="https://www.businessinsider.in/investment/news/facebook-microsoft-and-others-look-towards-the-1-trillion-dollar-metaverse-opportunity-but-that-contradicts-the-base-philosophy-behind-web-3-0/articleshow/87959802.cms">Web3</a>. <keyword id="2223395" type="General" weightage="50" keywordseo="openid" source="Orion">OpenID</keyword> on today’s Web2 functions as a way to login to a new website/service without specifically signing up for it, by using an existing Microsoft/Google account. Today’s OpenID shares some data about the user, such as name, email, age-range, etc. The upcoming Polygon ID however, claims to offer more privacy, when authenticating a user on a third-party service. According to<a href="https://blog.polygon.technology/introducing-polygon-id-zero-knowledge-own-your-identity-for-web3/"> their blog</a>, Polygon ID could be one way to verify user claims when logging into Web3 services; such as identity, date of birth, <keyword id="786882" type="General" weightage="50" keywordseo="dao" source="Orion">DAO</keyword> membership, available services, and more. Today you need to individually create a login and upload KYC documents to each crypto service – an exchange, a game, an <a href="https://www.businessinsider.in/investment/news/the-most-valuable-nft-projects-of-2021/slidelist/88592907.cms">NFT marketplace</a>, a DeFi facility, an auctioner or meeting service in a <a href="https://www.businessinsider.in/investment/news/the-metaverse-may-change-the-way-you-earn-money-shop-or-even-chill-with-friends-in-the-future/slidelist/86677906.cms">metaverse</a>, and so on. Polygon ID broadly asks you to imagine a single login service that lets you login to your <a href="https://www.businessinsider.in/investment/news/choosing-the-best-cryptocurrency-exchange-your-options-and-how-to-pick-between-them/articleshow/87539690.cms">crypto exchange</a>, verify your age on <a href="https://www.businessinsider.in/investment/news/facebook-microsoft-and-others-look-towards-the-1-trillion-dollar-metaverse-opportunity-but-that-contradicts-the-base-philosophy-behind-web-3-0/articleshow/87959802.cms">Web3</a> social media, prove ownership of an <keyword id="4668945" type="General" weightage="50" keywordseo="nft" source="Orion">NFT</keyword>, establish credit-worthiness for DeFi borrowing, and easily enter a corporate all-hands meeting. <div type="image" title="Representative image" msid="90544319" hostid="261" caption="&amp;lt;p&amp;gt;Representative image&amp;lt;/p&amp;gt;"></div> Polygon ID claims some crypto-age benefits <ul><li>Private by default, meaning users choose when and what data is shared.</li><li>Zero-knowledge protocols based on<a href="https://docs.iden3.io/"> Iden3</a>, for additional user privacy.</li><li>On-chain verification, enabling scalability as usage grows to more decentralised apps and decentralised finance.</li><li>Blockchain-based ID, enabling decentralised and “self-sovereign” principles, that put users in control of their personal data.</li><li>Advanced privacy and app-access with appropriate anonymity.</li><li>User interaction with services, without depending on an intermediary.</li><li>User validation and attestation services, for DAO/DeFi/Web3 purposes. </li></ul>According to the company’s stated timeline on their blog, today’s announcement is about the proof-of-concept (PoC) being ready. The complete<a href="https://polygon.technology/polygon-id/"> Polygon ID</a> platform is scheduled to be ready in the third quarter of 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/axie-infinitys-ronin-bridge-halted-after-a-massive-600-million-hack/articleshow/90539665.cms">Axie Infinity’s Ronin bridge halted after a massive $600 million hack</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/ex-paytm-employees-join-crypto-focused-transak-as-it-doubles-down-on-its-india-expansion-plans/articleshow/90542349.cms">Ex-Paytm employees join crypto-focused Transak as it doubles down on its India expansion plans</a>

Polygon launches web3 user IDs that keep personal details anonymous

<ul><li>The <keyword id="2810876" type="General" weightage="20" keywordseo="ethereum" source="Orion">Ethereum</keyword> Foundation and Ethereum Name Service are looking to offer users an alternative to <keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword>, <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> and <keyword id="6354576" type="General" weightage="20" keywordseo="facebook" source="Orion">Facebook</keyword> as a common sign-in method across the web.</li><li>Two of the most important bodies backing the development of the Ethereum ecosystem have shortlisted Spruce Software to build the new ‘decentralised’ system.</li><li>Systems that use Ethereum wallets for identification aren’t unknown and are used on NFT platforms often.</li></ul>Trusting tech giants Google and Facebook with personal information has become risky business with cases of user data being left vulnerable increasing with time — the most glaring example being the Cambridge Analytica scandal. However, doing without them is not an option for most people in their day-to-day lives. As an alternative, the <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">Ethereum</a> Foundation (EF) and the Ethereum Name Service (ENS) — two of the most important bodies fueling the development of the Ethereum blockchain — are looking to develop a ‘decentralised’ solution. Rather than using Google, Facebook or Apple accounts to sign into other services, they want to offer a ‘sign in with Ethereum’ alternative. <div type="ExtQuote" text="The Ethereum ecosystem already has tens of millions of monthly active wallet users signing with their cryptographic keys for financial transactions, community governance, and more." auname="Statement by Spruce"></div> Simply put, giving information to tech giants and then using those same accounts for other apps is ‘centralised’. While it allows users to avoid passwords and provides a level of security, it also hands over data on their Internet activity to these firms. Ethereum, on the other hand, does not. It isn’t controlled by a for-profit organization, meaning there’s no one to profit from your data, at least on paper. The foundation had put forth a request for proposals for creating a ‘sign-in with Ethereum’ system recently and a proposal from identity software firm Spruce has come out as the winning idea. <div type="ExtQuote" text="The security of these [Ethereum] wallets has been proven across billions of dollars of digital assets at stake — not theoretical security, but real tests in production. These secure wallets can also be used to sign in to Web2 services." auname="Statement by Spruce"></div> <cmsannotation type="cmsannotation" annotationid="How will ‘sign with Ethereum’ work?" comment="subhead" text="How will ‘sign with Ethereum’ work?">How will ‘sign with Ethereum’ work?</cmsannotation> According to Spruce’s announcement, the company will work with ENS and EF closely to ensure that signing in with <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">Ethereum</a> is compatible with current standards in the industry. “We will be working closely with the teams at EF and ENS, ensuring that development will happen in the open, ample consideration is given to existing bodies of related work (existing implementations, EIPs, OpenID, IETF, W3C, etc.), and that the final result will be friendly to implementers while remaining vendor-neutral,” the company said. To be clear, Spruce isn’t really starting from scratch. The company noted that services like OpenSea and Gitcoin already allow users to sign in with their Ethereum wallets instead of using other accounts. The company’s system will look to ‘standardize’ this system across the web. The company is also inviting the Ethereum community to join in on the discussions around this system. It has created a server on chat platform <a href="https://discord.com/invite/WjvuYqvm5Y">Discord</a> and will be taking feedback using the same. The system also brings one of the core benefits of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">blockchains</a> and Web 3.0 applications to the internet — that of building decentralized systems across the web. By using an Ethereum wallet to confirm one’s identity, the system theoretically takes away that power from a government or large organization, which has been a central promise of public blockchain systems from day one. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cardano-founder-charles-hoskinson-says-the-crypto-world-needs-that-wi-fi-moment-where-users-can-work-with-any-blockchain-seamlessly-more-than-it-needs-a-dominant-network/articleshow/86193591.cms">Cardano founder Charles Hoskinson says the crypto world needs 'that wi-fi moment' - where users can work with any blockchain seamlessly - more than it needs a dominant network</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/3-companies-will-pay-a-total-of-539-million-to-settle-with-the-sec-over-charges-of-illegal-stock-and-digital-asset-offerings/articleshow/86178429.cms">3 companies will pay a total of $539 million to settle with the SEC over charges of illegal stock and digital-asset offerings</a> <cmsannotation type="cmsannotation" annotationid="How will ‘sign with Ethereum’ work?" comment="subhead" text="How will ‘sign with Ethereum’ work?"> </cmsannotation>

Google, Apple and Facebook move aside — Ethereum will offer users control over their data with a new sign-in method

A national identity scheme goes global.
THE founders of the internet were academics who took users' identities on trust. When only research co-operation was at stake, this was reasonable. But the lack of secure identification is now hampering the development of e-commerce and the provision of public services online.
In day-to-day life, from banking to dating, if you don't know who you are dealing with, you are vulnerable to fraud or deceit, or will have to submit to cumbersome procedures such as scanning and uploading documents to prove who you are.
Much work has gone into making systems that can recognise and verify digital IDs. A standard called OpenID Connect, organised by an international non-profit foundation, was launched this year. Mobile-phone operators have started a complementary service, Mobile Connect, which allows identities of all kinds to be authenticated from smartphones.
But providing a digital ID that will be widely used and trusted is far harder. Businesses can check their employees rigorously, and issue credentials for gaining access to buildings, computers and the like.
But what about outside the workplace? Facebook, Google and Twitter are all trying to make their accounts a form of ID. But these are issued without verification, so pseudonyms are rife and impersonation easy.
Private providers are offering their own schemes; miiCard, for example, uses bank accounts as a way of issuing a verified online identity. But these fall short of the reliability of a state-backed identity, issued by a government official, checked against other databases, using biometric data (such as fingerprints and retinal scans) and backed by law--in effect an electronic passport.
There is one place where this cyberdream is already reality. Secure, authenticated identity is the birthright of every Estonian: before a newborn even arrives home, the hospital will have issued a digital birth certificate and his health insurance will have been started automatically.
All residents of the small Baltic state aged 15 or over have electronic ID cards, which are used in health care, electronic banking and shopping, to sign contracts and encrypt e-mail, as tram tickets, and much more besides--even to vote.
Estonia's approach makes life efficient: taxes take less than an hour to file, and refunds are paid within 48 hours. By law, the state may not ask for any piece of information more than once, people have the right to know what data are held on them and all government databases must be compatible, a system known as the X-road. In all, the Estonian state offers 600 e-services to its citizens and 2,400 to businesses.
Estonia's system uses suitably hefty encryption. Only a minimum of private data are kept on the ID card itself. Lost cards can simply be cancelled. And in over a decade, no security breaches have been reported.
Also issued are two PIN codes, one for authentication (proving who the holder is) and one for authorisation (signing documents or making payments). Asked to authenticate a user, the service concerned queries a central database to check that the card and relevant code match. It also asks for only the minimum information needed: to check a customer's age, for example, it does not ask, "How old is this person?" but merely, "Is this person over 18?"
Other governments have tried to issue electronic identity cards. But costs have been high and public resistance strong. Some have proved careless custodians of their citizens' data.
There are fears of snooping. Britain had spent £257m ($370m) of a planned £4.5 billion on a much-criticised ID card scheme by the time the current coalition government scrapped it after coming to office in 2010.
That has left a gap in the global market--one that Estonia hopes to fill. Starting later this year, it will issue ID cards to non-resident "satellite Estonians", thereby creating a global, government-standard digital identity.
Applicants will pay a small fee, probably around EUR30-50 ($41-68), and provide the same biometric data and documents as Estonian residents. If all is in order, a card will be issued, or its virtual equivalent on a smartphone (held on a special secure module in the SIM card).
Some good ideas never take off because too few people embrace them. And with just 1.3m residents, Estonia is a tiddler--even with the 10m satellite Estonians the government hopes to add over the next decade.
What may provide the necessary scale is a European Union rule soon to come into force that will require member states to accept each others' digital IDs. That means non-resident holders of Estonian IDs, wherever they are, will be able not only to send each other encrypted e-mail and to prove their identity to web-service providers who accept governmentissued identities, but also to do business with governments anywhere in the EU.
Estonia is being "very clever", says Stéphanie de Labriolle of the Secure Identity Alliance, an international working group. Marie Austenaa of the GSMA, a global association of mobile-phone firms, praises it too. Allan Foster of ForgeRock, a firm that is working on government ID schemes in Belgium, New Zealand and elsewhere, thinks that the new satellite Estonians will help change attitudes to secure digital identities in their own countries, too.
The scheme's advantages for Estonia are multiple. It will help it shed the detested "ex-Soviet" tag and promote itself as a paragon of good government and innovation. It will attract investment: once you have an Estonian ID, setting up a company there takes only a few minutes.
And it will create an electronic diaspora all over the world with a stake in the country's survival--no small matter at a time when the threat from Russia is keenly felt. (Estonia is also planning to back up all its national data to secure "digital embassies" in friendly foreign countries.)
Struck by the X-road's scalability and security, and the fact that it has already worked well for over a decade, Finland and other countries are adopting the Estonian system in whole or in part. But for foreign individuals, perhaps its greatest appeal is that it is optional.
Those who like the system's convenience, security and flexibility can apply (though Estonia's chief information officer, Taavi Kotka, who is taking time away from his real-life job running an IT company, stresses that the ID is a privilege, not a right). Those who feel queasy about a foreign state having access to their personal data can steer clear.
Mr Kotka says that Estonia aims to do for identity what American Express cards did for international travel in the 1960s: to simplify life. But the bigger point is that government-verified identity has been divorced from location.
If Estonia's scheme takes off some other countries may well decide to follow its lead. Some may aim at volume; others, to target the top end, as with the market in non-resident investors' passports. Soon, multiple satellite citizenship may even become the norm.
Click <a href="https://subscriptions.economist.com/nwcd">here</a> to subscribe to The Economist.

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Polygon launches web3 user IDs that keep personal details anonymous

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Google, Apple and Facebook move aside — Ethereum will offer users control over their data with a new sign-in method

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The Digital Society Of The Future Is Happening Now In Estonia

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