What's Happening?
Self, a zero-knowledge identity startup, has raised $9 million in seed funding and introduced a points-based rewards program to encourage on-chain identity verification. The funding round included investors such as Greenfield Capital and SoftBank's Startup
Capital Ventures. Self's protocol uses zero-knowledge proofs and verifiable credentials to confirm attributes like age without exposing personal data. It supports verification through biometric passports and national IDs, and is integrated with platforms like Google and Aave.
Why It's Important?
Self's approach to identity verification using zero-knowledge proofs represents a significant advancement in privacy-preserving technology. This could have broad implications for industries reliant on secure identity verification, such as finance and healthcare. By enabling users to verify their identity without revealing sensitive information, Self's technology could enhance privacy and security in digital transactions, potentially influencing regulatory standards and consumer trust in digital identity solutions.
What's Next?
The points program introduced by Self aims to incentivize users to engage with identity verification across partner platforms, potentially expanding its user base and integration opportunities. As more businesses adopt Self's technology, it could lead to increased demand for privacy-preserving identity solutions, prompting further innovation and investment in the sector.
