New York, NY, Could 29, 2023 (GLOBE NEWSWIRE) — zkMe, the zero-knowledge Id Oracle supplier, has efficiently secured $2 million in pre-seed funding.Regardless of closing the funding spherical on the finish of final yr, the corporate has solely launched the official announcement now after popping out of stealth final month.
Within the period of digital transformation, managing identification and private data has turn into a essential concern for people and organizations alike. zkMe allows customers to selectively disclose their credentials to licensed events, with out compromising their privateness; granting them full management over their digital identities. Customers can create and handle their digital identities with out the worry of their private data being uncovered. The protocol has potential use instances in varied industries, together with anti-sybil safety for truthful airdrops, nameless net knowledge attestation for GameFi integrations, and personal KYC compliance for DeFi.
zkMe has carried out an revolutionary and safe manner for dApps to effectively confirm person eligibility whereas retaining their privateness protected. With the SSI cell app developed by zkMe, customers can encrypt and anonymize their knowledge and show claims on their very own system utilizing ZKPs. This ensures that nobody processes their private identifiable data moreover themselves. The ZKPs are verified by a community of MPC nodes earlier than being minted onto the person pockets as an SBT. zkMe’s proof-of-personhood strategy ensures the DID holder’s uniqueness. DApps can question nameless sure/no statements from the zkMe community utilizing the SBT, resembling whether or not the person is over 18 years previous, to make sure person eligibility with out accessing, processing, or storing any delicate knowledge.
The group behind zkMe consists of extremely skilled professionals in varied fields together with cryptography, good contract, UX, and front-end growth. With a complete of 23 members, the group combines tutorial and company expertise; with 3 PhDs with cryptography analysis and 15 builders with big-tech backgrounds. The startup focuses on enhancing privateness and safety in digital interactions utilizing zero-knowledge proofs, machine studying, and decentralized identities. With this latest funding, zkMe goals to finish testing and onboard prospects on mainnet inside a month. They’ve introduced first go-live partnerships with Infrastructure, GameFi, and DeFi initiatives via their social media channels.
With the US Division of the Treasury and the SEC imposing stricter KYC/AML necessities in DeFi, options like zkMe’s zero-knowledge KYC are essential. zkKYC allows establishments to take part in DeFi whereas assembly compliance requirements. It performs a vital position in making certain verified customers entry monetary companies in a permissioned DeFi ecosystem. zkKYC facilitates safe identification verification with out third-party verification, giving customers extra management over their knowledge and privateness. It additionally gives better transparency and belief in DeFi, decreasing the chance of fraudulent actions or knowledge breaches. Anti-Sybil and zkKYC are simply the primary credential use instances, additional use instances for the verification of customers’ web2 actions and social standing are anticipated to drop quickly.
“This newest spherical of funding is a promising first step for us to ascertain a a lot wanted trust-layer for digital interactions.” says Alex Scheer, CEO and Co-Founding father of zkMe. “We imagine that selective, safe and environment friendly credential verifications are of elementary significance for web3 as a complete to develop and entice new customers and revolutionary use instances. We’re thrilled to have the assist of Circle and Spartan as we work to construct the zk-credential community of web3 and assist customers confirm themselves privately.”
Web site: https://www.zk.me/