According to Foresight News, The Block reported that Polygon ID has been operating independently from Polygon Labs and changed its name to Privado ID, trying to expand beyond the Polygon network. Privado ID is establishing partnerships with on-chain and institutional organizations, including proof-of-concept with multiple multinational banks and financial services companies, aiming to develop an interoperable and compliant identity framework, such as ensuring that only eligible participants can participate in certain DeFi primitives through verifiable credentials. Privado ID is also integrated with the Verax Attention Registry on the Linea zkEVM chain developed by Consensys, aiming to enhance cross-chain identity, prevent false identities, reduce the cost of managing trusted data, and help applications quickly establish user reputations using verified data.
The Privado ID team includes Polygon co-founders David Schwartz and Antoni Martin as CEO and COO, Jordi Baylina, a key figure in the development of Polygon’s zkEVM, as a technical advisor, and Polygon Labs co-founder Sandeep Nailwal as a growth advisor.
