Cheqd Launches Personal & Safe AI Protection Resolution Dubbed ‘Creds’

cheqd, a startup constructing the trusted knowledge economic system during which folks and organizations have full possession and portability of their knowledge, has launched Creds, a platform for issuing, holding, and exchanging digital credentials to ascertain a transportable repute.

Creds, a platform to subject digital credentials, or “creds,” is a transportable, reusable, privacy-focused, and safe means to substantiate identification, develop a decentralized repute, and create belief. It was unveiled on the Nebular Summit in Paris as we speak.

Creds tackles quite a lot of Web3 points, together with privateness points, neighborhood safety, engagement, and belief. It additionally tackles the shortage of belief introduced on by generative AI.

Neighborhood Security, Transportable Belief, and Decentralized Status

Safety is among the biggest issues with Web3. In response to one analysis, cryptocurrency frauds precipitated widespread distrust in communities and the lack of about $150 million in a single week. With Creds, initiatives could confirm the identification of customers and the possession of handles, wallets, and repute. This prevents impersonation, Sybil assaults, and frauds whereas establishing admin and moderator standing throughout platforms, corresponding to Telegram and Discord. With the event of generative AI, faux info, information, and even people are being amplified, which is aggravating the issues.

Belief and repute are the most effective weapons to make use of in opposition to this drawback. Folks ought to be capable of set up a verified repute and switch it throughout teams and platforms. With the privateness possibility enabled, Creds permits customers to share one or a set of credentials for third events to substantiate as real.

Neighborhood Engagement and Gamification

Gamification raises person engagement and promotes the acquisition and retention of shoppers. Gamification will increase the profitability of companies in contrast to people who don’t make use of it. Creds provides a repute layer to neighborhood technique, permitting initiatives and other people to experiment with gamification components like incentive quests and learn-to-earn, develop distinctive repute and belief programs, and increase real participation.

Privateness-preserving

With assorted levels of effectiveness, belief and repute programs have been examined utilizing Non-Fungible Tokens (NFTs) and SoulBound Tokens (SBTs). Since all private knowledge is off-ledger, the place it’s non-public and secure, Creds fluctuate from NFTs and SBTs in that they’re non-public, revocable, and moveable between platforms and ecosystems. Information is reliable as a result of it has been cryptographically signed and validated by decentralized identifiers (DIDs) on-chain.

Launch

Attendees on the Nebular Summit acquired credentials as a part of the introduction of Creds and its verifiable credentials. With out disclosing any personally figuring out details about themselves, attendees could present they attended the occasion utilizing their credentials. Moreover, their credentials are collectible and could also be saved as a memento of the occasion they attended, precisely like an NFT.

Avishay Litani could also be reached at avishay@marketacross.com for any extra inquiries or interview requests.