Polygon Labs: Has launched the ID solution derivative product "Privado ID"

ChainCatcher news, according to CoinDesk, the main development team of Polygon, Polygon Labs, has completed its ID solution derivative "Privado ID".

The team stated, "The team behind Iden3 Protocol and Polygon ID is committed to expanding Privado ID beyond the Polygon network and is currently actively establishing strategic partnerships with on-chain and institutional organizations. This includes proof of concepts (PoC) with several multinational banks and financial services companies, aimed at building a technical foundation for an interoperable and compatible identity framework."

It is reported that this PoC will also explore the use of Privado ID's verifiable credentials (VC) as access control points for permissioned financial transactions.