VeriDID Teams up With VSC Blockchain for Self-Sovereign Identity Tooling
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VeriDID, a leader in self-sovereign identity solutions, becomes the latest addition to the ecosystem of VSC Blockchain's strategic tech partners. The two teams will work together on new developments in the sphere of trustless ID verification instruments for B2B and B2C.
VSC Blockchain, VeriDID inked partnership: Details
According to an official joint statement by VeriDID and VSC Blockchain, the two innovative blockchain teams have entered into a long-term strategic partnership. This collaboration leverages the strengths of both VeriDID and VSC Blockchain to create a seamless, secure identity management ecosystem.
VeriDID’s Credential Management System (CrMS) simplifies Know Your Customer (KYC) procedures, drastically reducing onboarding times. Businesses in Web3 and Web2 save resources, while users enjoy streamlined identity verification and better UX/UI.
The VeriDID credential wallet allows individuals to regain full control of their personal data. Users decide what to share, with whom, and when with no transparency and decentralization tradeoffs.
VSC Blockchain provides a secure foundation for issuing and verifying credentials. Its decentralized design ensures authenticity, protects against fraud, and guarantees data integrity.
New opportunities for organizations and citizens
By aligning their technologies, VeriDID and VSC Blockchain foster trust between users and organizations, creating a future where secure, user-controlled identities become the norm.
As online interactions become more complex, the demand for self-sovereign identity solutions has skyrocketed. VeriDID and VSC Blockchain’s partnership addresses critical challenges in security, privacy and trust — laying the groundwork for a more user-centric digital economy.
This partnership signals a new era in digital identity, where users no longer have to sacrifice control for convenience. VeriDID and VSC Blockchain are making secure, self-sovereign identity a reality.
The sphere of decentralized identity credential management is one of the trending narratives in the cryptocurrency segment right now. Solutions in this sphere are focused on reconsidering the way sensitive data is managed by businesses, governmental bodies and so on.
Cost-effective L1 in EVM for next generation of dApps: What is VSC Blockchain?
VSC Blockchain is one of the most suitable tech solutions for the DID segment as it operates with negligible fees and guarantees low latency and fast transactional finality. Also, it is seamlessly interoperable with all EVM blockchains, which is crucial for cross-blockchain integrations.
In October 2024, GEM Digital VC firm from the Bahamas announced a $10 million token agreement as the latest round of funding for the VSG token and VSC Blockchain ecosystem.
Vladislav SopovWith this $10 million investment commitment from GEM Digital, VSG will continue enhancing its ecosystem, attracting developers, promoting blockchain use and providing cutting-edge solutions for enterprise apps, gaming, NFTs and decentralized finance (DeFi).
Also, starting from Q4, 2024, VSG, a core native cryptocurrency of VSC Blockchain, is listed on Uniswap (UNI), the world’s most popular DEX of EVM ecosystem. Users can benefit from trading and providing liquidity to VSG/ETH pools. Also, the token is already available on some CEXes, including Ascendex. Centralized exchanges added VSG in pairs with the U.S. Dollar Tether (USDT).
Last October, VSC Blockchain hosted Block Hackathon, a massive online event for Web3 devs. With three announced categories and $25,000 in an aggregated prize pool, BlockHakathon was introduced to the community as the first major developer ecosystem event for Vector Smart Chain (VSC), a high-performance programmable layer 1.
The agenda of the hackathon included GameFi, NFT and DeFi tracks.
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