Dentity Acquires Trinsic’s Decentralized Identity Assets

Santa Monica, CA, December 12th, 2024 – Chainwire

Dentity, a leader in decentralized digital identity, has announced the acquisition of Trinsic’s decentralized identity assets. This move will enable Dentity to expand its Web3 identity solutions and strengthen its position as a global leader in decentralized identity.

Dentity’s Founder and CEO, Jeff Schwartz, stated, “Trinsic’s platform revolutionizes how consumers control and share their personal data. This acquisition brings us one step closer to creating a safer, more secure digital future, where individuals are fully in charge of their identity — and can potentially earn from it, not Big Tech.”

Co-founder of Trinsic, Riley Hughes, added, “Dentity stands out as the most successful product built on our decentralized identity platform.

Their consumer scale and impressive ecosystem of partners will allow Trinsic’s technology to touch millions more, making Dentity the perfect place for this platform to reach its potential.”

Dentity has joined Trinsic’s Identity Acceptance Network, which enables seamless identity verification through digital IDs in web3 wallets like Dentity, mobile driver’s licenses, and eID apps.

Trinsic’s network gives 100 million consumers instant access to Dentity’s products and ecosystem partners. In a world where fraud, online scams, and identity theft are on the rise, digital identity offers a powerful solution. Decentralized identity empowers consumers to securely share only what’s necessary, whether they’re buying, selling, dating, or participating in the growing Web3 economy.

For the first time, individuals — not third parties — control their data, cutting out the middlemen who earn from consumer information. The growing need for decentralized digital identity solutions is backed by consumer demand for more control over their digital lives. Over 75% of people don’t trust Big Tech with their personal information, and they’re demanding more control over their digital lives.

Gartner predicts that by 2026, 500 million smartphone users will regularly use a digital identity wallet — a testament to the growing need for decentralized digital identity solutions. Combining Trinsic’s powerful identity technology with Dentity’s consumer apps and distribution channels accelerates the adoption of reusable, verified digital identities — helping to combat fraud, streamline online interactions, and give users the tools to manage their data.

The market for digital identity is projected to reach $325 billion by 2027, and with this acquisition, Dentity is uniquely positioned to capture its share. The acquisition not only unlocks new growth opportunities but also helps Dentity and its partners scale faster and reach a wider range of developers looking to integrate decentralized identity into their platforms.

About Dentity Dentity makes it easy for people to build and manage digital trust online. They empower individuals to create, control, and verify their identity credentials, allowing them to securely share private data with the people and organizations they interact with. Dentity powers one of the world’s most advanced decentralized identity infrastructure, enabling thousands of developers to integrate user-controlled identity features into their applications.

Dentity gives millions of consumers full ownership and control over their digital identities. Users can visit www.dentity.com for more information. About Trinsic Trinsic is the first identity acceptance network, facilitating 10x faster identity verification for 95 million consumers. Its product acts as a gateway into dozens of identity networks, mobile driver’s licenses, and eID apps.

Companies use Trinsic to check for a digital ID before asking users to upload a physical ID document for verification. Since founding in 2019, Trinsic has raised $9.4 million from Georgian, Kickstart Seed Fund, Osage Venture Partners, and notable angel investors from the identity space. Users can visit trinsic.id to learn more.

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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