Polygon Labs has spun off its Polygon ID service, now Privado ID, to provide its self-sovereign identity control solution beyond the Polygon network. Privado ID can prove humanity and uniqueness, complicating Sybil attacks, and has uses in traditional finance. Users control their identities, with identity files recoverable via seed phrases. Privado ID uses cryptographic-based zero-knowledge (ZK) technology, preventing third-party information storage. It's already undergone proof-of-concept with Deutsche Bank and Consensys. Polygon Labs co-founder, Sandeep Nailwal, will serve as a growth adviser for Privado ID. 🆔💼
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