Empowering Digital Identity
A strategic agreement between COTI and Civic has been announced, which is a step that dramatically improves digital privacy and identity sovereignty. The goal of this partnership is to revolutionise the way in which users maintain and safeguard their digital identities, therefore guaranteeing that users have complete control over and security for their personal data inside the ever-expanding world of internet 3.
A Leap Towards Enhanced Digital Privacy
Located in Tel Aviv, COTI stands as the apex of efficiency, speed, and security as a confidentiality layer on Ethereum. Shahaf Bar-Geffen, CEO of COTI, shared his enthusiasm about the collaboration, stating,
"We’re excited to integrate COTI V2's confidentiality layer into Civic’s platform. Civic is an industry leader in the field of identity management tools for Web3, and COTI will continue to partner with industry leaders. We look forward to working with Civic’s professional team to bring Dynamic DID into full production."
Managing one's digital identity is crucial in the modern digital world, as online interactions and transactions are frequent occurrences. People are starting to take more precautions to protect their digital footprints from hackers, illegal access, and data breaches due to this the secrecy layer of COTI V2 is essential as it provides a safe and encrypted method for data calculation and verification.
To comply with legal requirements such as Anti-Money Laundering (AML) and Know Your Customer (KYC), Civic will utilize COTI V2's Dynamic DIDs in conjunction with Civic Pass, which is a validated credential and a token that cannot be transferred within the user's wallet.
Civic’s Innovative Approach to Identity Verification
Civic has taken a proactive move by offering a real ID card as part of its entire Civic ID System. This comes at a time when there are rising worries over identity fraud that is powered by artificial intelligence, this is also a huge step forward in the integration of digital and physical verification methods as it provides a comprehensive solution to the problem of fraudulent operations, which is very critical for enterprises in today’s connected internet environment which is always susceptible to hacks and identity thefts.
Vinny Lingham, Co-Founder and Chairman of the Board at Civic, emphasized the importance of this development saying,
"Our vision at Civic is a future where user-controlled digital identity is the standard for authentication and authorization across all digital interactions. We’re very aware of the challenges that the rapidly evolving AI world poses to human identity verification. By launching our physical ID card, we’re taking real steps towards protecting against fraudulent activity that takes place digitally."
A Unified Vision for the Future of Digital Identity
The partnership between COTI and Civic is more than a technical collaboration; it's a shared vision for a future where digital identity is secure, private, and user-controlled. As these two industry leaders join forces, they set the stage for innovative Web3 use cases, empowering users to navigate the digital world with confidence and assurance.
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