Polygon revisits ID verification with Web3: everything you need to know

Created by a team of Indian developers, Polygon has emerged among the popular blockchains that are not only efficient but also eco-friendly. Now the team behind Polygon has introduced a new feature called Zero-Knowledge-Proofs (ZK-Proofs) that would add a Web3 twist to the ID verification process. The name of this service is Polygon ID. The platform had started working on this service around 12 months ago and the launch was officially announced on Wednesday, March 1st.

Use Polygon ID can enable anyone to become an issuer, verifier or holder of a Web3 Identity. To put things in perspective, KYC providers and DAOs act as issuers. While decentralized apps (dApps) are considered reviewers, Polygon users are categorized as owners.

Polygon ID service users can verify their identity online, which would be protected by cryptographic techniques. This would prevent their personal information such as names, phone numbers and email ids from being shared with or stored by third party companies.

“Developers have taken a step closer to solving the digital trust problem with the release of Polygon ID’s self-sovereign identity infrastructure stack. Developers can unlock a variety of new use cases by leveraging the Polygon ID. Applications range from proof of uniqueness to instant onboarding that could be leveraged by Decentralized Autonomous Organizations (DAOs) and Decentralized Finance (DeFi),” Polygon Labs wrote in an official blog entry.

Polygon ID will provide nodes for issuers, a software developer kit (SDK) for reviewers, a wallet SDK for wallet creators, and a wallet app that works green Blockchain available to holders.

The goal behind the release of the Polygon ID is to add a trust quotient among Web3 community members who are required to share their personal information with the crypto companies they associate with.

“For companies using Polygon ID, this can mean the end of the headache of managing user data. For individuals, this means greater control over their own identity and discretion in using their personal information to answer questions from institutions and private organizations,” the Polygon Labs post added.

Other Web3 processes like Ecommerce Customer onboarding, passwordless login, and undersecured lending were cited among other Polygon ID beneficiaries.

“Compliance without compromising privacy with zero-knowledge technology, developers can leverage zero-knowledge technology within their existing compliance processes without sacrificing user privacy,” the blog states.

Some companies are already using the Polygon ID service. These include Clique, a digital passport application, and DePay, a P2P payment application.