For the first time, ENS users can now securely link their onchain identity with their real-world identity.
Ethereum Name Service (ENS) and Dentity have joined forces to bring verifiable credentials onchain, expanding the use cases of blockchain technology beyond crypto.
With this collaboration, ENS users can now securely link their onchain identity with their real-world identity. They can define the scope of the information they wish to share, and maintain complete control over what Personally Identified Information (PII) is publicly accesible, while preventing the need for any PII to be stored onchain.
Similarly, Dentity users can now link their identity credentials to their ENS domain using the newly created integration pathway.
Highlighting the significance of this integration, a statement from ENS reads: “Real-world identity is the unlock for blockchain beyond crypto, and this collaboration signifies a leap forward in making this a reality. We’re bridging the gap between offchain and onchain identities, enabling users to have one true digital identity. Together with Dentity, ENS is broadening the capabilities of Web3 naming, making onchain identities real and usable across various applications. By linking real-world identities with onchain personas, Web3 users can own a verified identity to access real-world services without compromising on decentralization.”
This collaboration comes at a crucial time as government bodies worldwide are working to implement mandatory KYC/AML compliance for decentralized financial technology projects, aiming to mitigate the risks associated with transaction anonymity involving digital assets.
With the recent passage of the Markets in Crypto-Assets Regulation and the introduction of the Financial Innovation and Technology for the 21st Century Act (FIT21), decentralized projects and protocols need to prepare for identity verification compliance.
Commenting on the broader implications of this integration, Jeffrey Schwartz, Founder, and CEO of Dentity, said: “The next billion blockchain users won’t be crypto natives, and likely they won’t even know
they’re onchain. They will be using various services that require real-world identity verification, like accessing educational credentials, professional licenses, and health care records. Sophisticated DeFi or traditional financial services that go beyond the capabilities of anonymous or pseudonymous blockchain transactions will require real-world identity verification.”
Dentity leverages self-sovereign identity standards and protocols, including W3C Verifiable Credentials, Decentralised Identifiers (DIDs), and OpenID Connect (OIDC) for Verifiable Presentations to allow for seamless and interoperable integration with ENS.
Through Dentity, ENS users can leverage verified credentials to prove their personhood and associated KYC information for third-party partners.
About Ethereum Name Service
Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS addresses allow anyone to register a .eth domain which they can then connect to multiple wallets, and use across all of Web3. Founded with an Ethereum grant in 2017 by Nick Johnson, ENS quickly grew as the most widely used permissionless domain name protocol in the world. With over 2 million names registered on-chain and over 4 million names off-chain, the protocol aims to become the neutral naming protocol for all.
About Dentity
Dentity is a leading consumer-first digital identity company. Dentity is built on open identity standards and is W3C compliant, returning identity and personal data ownership back to the consumer. Dentity is capable of verifying over 16K government-issued documents in 220 countries, integrates with over 15K financial institutions globally, and includes a self-service enterprise business portal.
Millions of consumers use Dentity to build trust online, and hundreds of enterprises use Dentity to build trust with their stakeholders. Dentity investors include Kleiner Perkins, AARP, and Blockchange Ventures. The company is based in Santa Monica, CA. For more information, please visit www.dentity.com or email [email protected].
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