Data economy startup cheqd takes a step forward in creating a safer and more trustworthy digital environment with the launch of Creds, a unique platform issuing digital credentials for enhanced trust
, a secure and privacy-preserving platform issuing digital credentials. Announced at the Nebular Summit in Paris, this innovative venture aims to establish portable trust and decentralized reputation, while addressing critical Web3 challenges.Creds intends to enhance the security of Web3 communities by verifying personhood, validating admin roles across platforms and preventing scams.
Beyond security, Creds aims to invigorate community engagement through gamification. By implementing reputation layers into community strategies, projects and individuals can explore incentivized quests and learn-to-earn mechanics, fostering a vibrant and engaged community.Creds differentiate from NFTs and Soulbound tokens by being private, revocable and portable across different platforms and ecosystems, making them a trusted data source.
As part of the launch, attendees at the Nebular Summit were issued creds as verifiable proof of their participation, without revealing any personally identifiable information. This marks a promising start for Creds, as attendees can retain these digital credentials as memoirs of their presence at the event, just like NFTs.
Introduction of Creds signals a major step forward in the company's mission to develop a trusted data economy, where users and organizations maintain control and portability of their data. With the emergence of Creds, cheqd continues to redefine the landscape of data privacy and security in the Web3 domain.
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