Digital Trust Solutions to Act as Global ID Verification Provider for Concordium Blockchain
Naarden, The Netherlands, and Zug, Switzerland - Digital Trust Solutions (DTS), a software development, management and consultancy firm specializing in customer compliance, and Concordium a Web 3 company providing a Layer-1, proof-of-stake blockchain with built in ID layer to ease regulatory compliance, announce today a new partnership, where DTS will act as global ID verification provider on the Concordium blockchain. Concordium’s ID layer, Zero Knowledge Proof (ZKP) technology, and partnership with ID providers, such as DTS, ensures user privacy while enhancing accountability and trust in the digital ecosphere.
“With DTS' Identity Services, users of CCD wallets are authenticated based on locally available digital identities, NFC chip reader or by means of a Passport/Driving License or National ID card with a selfie check,” said Arjan van Diemen, CEO of Digital Trust Solutions and further explains, “All transactions will be stored in an identification file with independent evidence, off-chain. If required by regulators, user identities and their transactions may be revoked by a set of independent identity revokers. In this way we bridge the gap between the virtual and real world and meet regulatory requirements”.
Headquartered in Switzerland, Concordium is a Layer-1, proof-of-stake, sustainable blockchain with ID layer which makes it compliance ready from day one. This innovative identity layer, at the protocol level, offers transactional privacy while supporting accountability towards relevant regulators and, as such, lays the basis for compliance readiness from day one. Concordium’s methodology ensures instant finalization and high throughput, at low and predictable transaction fees.
In addition to running identity verification services on Concordium, Digital Trust Solutions will actively participate in the ecosystem development and collaborate with Concordium on use case development and enterprise blockchain adoption.
"With the Concordium ecosystem, the decentralized blockchain space is maturing and we are looking forward to working as a part of this ecosystem which provides so many interesting new business model options for the ever increasing number of participants," said Arjan van Diemen, CEO of Digital Trust Solutions.
“It's a great pleasure to work with the DTS team who has shown great interest in the decentralized blockchain space and we look forward to collaborating with DTS on driving innovative solutions to the Concordium ecosystem," said Mikael Breinholst, Head of Partner Integration at Concordium.
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Concordium is a public-permissionless, science-backed blockchain, designed to balance privacy with accountability through its ID layer. The protocol level ID, ensures that every wallet is associated with a real-world identity that has been verified through a 3rd party ID provider. By leveraging zero-knowledge proofs, Concordium is able to provide users with full privacy while using the blockchain, but still ensures accountability thanks to the option of ‘revocable’ anonymity. For developers and users, it provides a fast, secure, and highly capable platform that makes building and using dApps a simpler, more accessible task. The platform's native payment coin, known as CCD, is used for paying transaction fees, staking, as a reward for node operators, and as a collateral/settlement medium for Concordium’s DeFi landscape. Concordium differs by offering nearly instantaneous, real finality with low transaction fees, stable in FIAT terms. For more information: concordium.com.
About Digital Trust Solutions
DTS is a young, innovative and rapidly growing software development, management and software consultancy firm specializing in Customer Compliance, Zero Knowledge Proof (ZKP), Multi-Party Computation software and applied custom web applications. For more information: www.digitaltrustsolutions.nl.