"Decentralized identity that works at scale is what you can't have with a decentralised web." said Jamie Burke, CEO of Outlier Venture.
The payment rails and models for self-sovereign identity are being built by Cheqd. Digital identity services online can be slow, user-hostile, and expensive for businesses to process. Identity checks can cost anywhere from $10 to $100 for corporate entities. The average person has over 190 passwords, which are difficult to manage and prone to hacking. Decentralized identity has been used by many startup, established ID companies, governments, and non-profits to give people more control over their data and make it more transparent. Digital identity payments are a problem and we are using a new technology to solve it.
The network will become the go-to network for self-sovereign / self-managed identity which rewards all parties in the system, whether institutional or individual.
