Blockchain
AllianceBlock’s NexeraID has joined the World Wide Web Consortium (W3C) to influence the direction of self-sovereign identity solutions and contribute to the development of global identity management standards.
The company that builds seamless gateways between decentralized (DeFi) and traditional finance (TradFi) announced that NexeraID, AllianceBlock’s solution for self-sovereign identity issuance and verification, has joined the W3C on May 3, according to information shared with Finbold. shared.
NexeraID enables businesses to easily onboard customers to Web3 with self-custodial or custodial wallets by serving as a self-sovereign identity issuance and verification platform.
In particular, NexeraID protects users’ identities and assets and streamlines complicated compliance operations. Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs) are already supported and the solution follows standards set by the W3C.
W3C, a global technology consortium
The W3C is an international community that creates advanced online standards through collaboration. W3C is well-known standards HTML and CSS are the basic technologies on which websites are built.
Tim Berners-Lee, credited with inventing the World Wide Web, is currently the director of the W3C, and its members actively participate in advancing fundamental web technologies, creating a framework for technical ethics, and collaborating with professionals from around the world. the industry and academic community.
AllianceBlock founder and CEO Rachid Ajaja stated:
“We are thrilled to be collaborating with other W3C member organizations in the development of interoperable web standards, bringing expertise to shape the principles of sovereign identity, which can only be done by collaborating with other industry leaders in these fields .”
NexeralID future commitment
W3C has 450 industry heavyweights as members, including Microsoft, Apple, Ethereum Foundation, and Coinbase. NexeraID is committed to actively working with other market players to promote the adoption of web standards for decentralized identifiers (DID) and verifiable credentials (VC).
NexeraID will be able to leverage W3C’s broad network of influential industry participants and contribute their technical skills to the advancement and development of new standards in digital identification.
In 2022, decentralized identifiers were adopted as a recommended practice for all websites. Because they enable users and institutions to create and manage digital identities across systems, they provide enhanced security and privacy. Another W3C standard, “Verifiable Credentials”, allows users to provide proof of authentication that is both digitally protected and secure.
