Traditional KYC and AML regulations have often forced companies to comply, without having the right tools to do so. Simply storing users’ personal information led to the creation of security honeypots which haven’t gone unnoticed by hackers. Web3 solutions like Privado ID aim to cryptographically prove certain traits from a user’s personal data, without disclosing it to the enquirer. This is usually made possible through zero knowledge proofs which allow users to store their personal data on their own device and only exchange verifiable credentials with trusted issuers. City of Buenos Aires has adopted a similar implementation through their Quark ID system, a digital trust framework that creates a new digital identity system, giving people control over their information.
Topics covered in this episode:
Evin’s background and founding Disco
Polygon ID acquisition and blockchain agnostic decentralized IDs
Diego’s background, from private to public practice
Privado ID and its registry of reputation issuers
Use cases, DevEx and UX
KYC and regulations
Buenos Aires digital ID system
Real world applications of Quark ID
UX frictions and solutions
ZK verification
Societal impact and adoption
Ethical considerations around DIDs
The role of blockchains in other real world applications
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