cheqd partners with DSID to bring a new form of “reputation score” to its collectors
We’re excited to announce a new partnership with DSID (Digital Social ID), a user-centric identity management solution that enables people to build a measurable online reputation.
For businesses, DSID acts as a rating agency of blockchain accounts with vast datasets on users based on their on-chain activities and off-chain integrations. DSID is active in different domains such as credit scoring, social media and professional reputation as well as gaming reputation.
How does it work?
Users connect their wallets to the DSID Hub and their scoring algorithms initially analyze all available on-chain data. Within seconds, a preliminary score is created. Users will be able to enrich the score by integrating additional data feeds throughout Web3 and Web2. This will be done proactively by the user. Variables that compose the score and the score itself are stored off-chain as verifiable credentials and verified on a ledger. They can be requested by verifiers on demand to learn more about users connecting to their apps or services.
The DSID score will evolve over time, at first being informed by a user’s connected Ethereum accounts, with Solana, Cosmos and other protocols and chains to follow.
What will this look like for Creds collectors?
Creds, enables users to build portable reputations across platforms through verifiable credentials that prove identity and showcase achievements and participation. Unlike NFTs and SBTs, Creds are private and revocable credentials that allow users to selectively showcase their reputations across communities. Creds uses on-chain identifiers for security while keeping user data off-chain. Projects can leverage Creds to reward users with exclusive benefits based on their credentials and reputation.
We’ll soon be exposing our issuance APIs, offering a seamless process for developers to build and issue verifiable credentials. DSID is one such partner, which will issue credentials for a range of reputation scores based on on-chain activity.
By offering DSID reputation scores, users will be able to start building their reputation based on their on-chain interactions. This is the first step in our pursuit of offering a blended and unified on and off-chain reputation, so users can prove who they are and what they offer in a more seamless and coordinated way, enabling them to access rewards such as airdrops, gain access to credit, and more.
How will the aggregated data be handled so that user privacy is protected?
We want users to feel confident in their online activities, and that begins with maintaining the utmost respect for privacy across all our products plus those we partner with.
Creds follows a zero-compromise approach to privacy, meaning that users’ personal information and on-chain data are handled with the highest level of discretion. Our systems are fortified with encryption technologies and decentralised architecture, mitigating the risk of unauthorised access and ensuring that your on-chain interactions remain secure. Your data remains exclusively under your control.
With DSID, given all raw data that lives on-chain is already publicly available, the initial data is not at risk. However, as soon as DSID starts to interpret data and creates tags such as “frequent DEX trader” which is an analysis from on-chain behaviour, those tags are stored off-chain in a VC-based SSI framework. The same goes for all off-chain integrations, meaning any specific data or analysis on a user is protected with the same privacy standards that we apply at cheqd.
Stay tuned to a future where reputations are effortlessly demonstrated and universally acknowledged.
