London, 4th May 2022 – cheqd, a market-leading solution enabling individuals and organisations to take control of their data has expanded its partnership network to a total of 35 top self-sovereign identity (SSI) vendors, after announcing its second SSI cohort.
SSI or decentralised identity is an emerging disruptive technology for exchanging trusted (also referred to as authentic) data, between people and companies in a more secure manner, giving entities ownership and control over their own data. According to a meta-analysis by cheqd published on Bloomberg, the SSI market is projected to be worth over US$550 billion, which demonstrates the significant opportunity the technology poses.
cheqd’s network is primarily built for SSI vendors to disrupt established identity paradigms and create new authentic data marketplaces. Each SSI vendor will utilise cheqd’s network tooling, functionality and native token, $CHEQ, for payment rails, never-seen-before commercial models and decentralised governance to advance their commercial strategies and technical roadmaps. The scale of distribution in the SSI space is unmatched - through its strong community of partners, cheqd engages with companies in various different industries, which further demonstrates the endless areas of opportunity for the application of SSI technology.
The new SSI companies joining cheqd’s network are as follows:
Animo Solutions: https://animo.id/
Animo Solutions works with developers and organisations to improve digital interaction using verifiable credentials. They create solutions where exchanging data is privacy-preserving and frictionless. Timo Glastra, co-founder of Animo Solutions, comments on building scalable SSI solutions on cheqd to handle the huge forthcoming growth in SSI:
“At Animo we build open-source digital identity infrastructure. Through our customers, we’ve experienced the need for a scalable network that is specifically suited to SSI implementation. We’re using cheqd to build SSI solutions that can handle the huge growth that is coming in the field.”
ID Lynx: https://idlynx.com/
ID Lynx connects and empowers a global community that provides decentralised digital identity solution platforms for individuals, organisations, animals and IoT devices. Chris Raczkowski, CEO of ID Lynx, comments:
"By joining the cheqd network we’re looking forward to utilising the network’s core utility to support our existing customer use-cases and explore cheqd’s payment rails for SSI to bring entirely new use-cases and revenue streams to our business. We are also excited to join the partnership network and cooperate with diverse partners to fast-track not just our own growth, but also accelerate the global adoption of SSI - a long-held ambition of mine and our ID Lynx team."
Gravity believes in data sharing for anyone, anywhere and has created products where individuals and organisations can create and manage portable and verifiable digital identities, issue and share credentials securely and easily verify and authenticate users. Johannes Ebert, CEO of Gravity, explains why joining cheqd is critical to their business:
"For companies like us, focusing on building applications based on SSI that enable users to access services, the payment rail component is critical in ensuring that we offer customers a seamless payment experience. Gravity's business model is based on "pay per data", such that customers pay for the data exchanged based on the number of credentials and the types of claims contained within them. Leveraging cheqd's payment rail infrastructure is therefore vital for Gravity as our customer base expands and the number of credential exchanges grows."
AyanWorks builds the foundations of SSI for individuals, enterprises, applications, and devices based on open standards. CEO of AyanWorks, Kalyan Kulkarni, comments on how cheqd’s incentivisation of verifiable credentials could lead to widespread adoption:
"AyanWorks is a fast-growing Blockchain Tech consulting company with a focus on decentralised identity and verifiable credentials. We share the vision of ‘identity for all’ by means of bringing solutions that emphasise privacy by design and privacy by default. We are keen to see how incentivising the verifiable credentials that cheqd is evangelising, can contribute to the adoption of this technology and are excited to have joined this network to leverage it and accelerate SSI solutions."
Gayadeed is an application that helps companies and professionals to securely sign agreements instantly from anywhere in the world. Co-founder of Gayadeed, Egidio Casati, sees cheqd as a crucial evolution in incentivised networks to bridge traditional eIDAS trust services:
“As a smart agreement platform, we are committed to bridge traditional eIDAS trust services with SSI protocols, focusing on interoperability, sustainability and UIX. We fully embrace cheqd’s crucial evolution towards a sustainable, properly incentivised and interoperable SSI ecosystem and we are glad to join the network to build and deliver SSI-powered applications ready for mass adoption.”
Monokee permits organisations to manage identities and embrace the new identity paradigm of SSI, where people and companies take control of their digital identity. Roberto Griggio, CEO of Monokee comments on the cheqd partnership:
“Monokee is a technology enabler that integrates identity management with disruptive and decentralised technologies to provide enterprise-grade security and compliance. Thanks to the partnership with cheqd, Monokee aims at establishing a virtuous cycle where verifiable credentials and distributed ledgers can sustain themselves, through cheqd’s payment rails, network utility and commitment to interoperability and open standards.”
Umazi are pioneers of global cross-industry due diligence and one of the most exciting start-ups in the space. Co-founder and CEO Cindy van Nierkirk on the collaboration with cheqd to increase revenue on all sides of the trust triangle:
“Umazi is carving out a new market to enable continuous enterprise identity verification for business due diligence. We're ready to explore the utility of cheqd’s payment rails to incentivise users of our due diligence trust network. This collaborative partnership will allow both of us to grow the next level of revenue generation across all sides of the trust triangle using cheqd’s Web3 SSI technology.”
Soverio is committed to helping our clients improve their online business security, implement digital transformation, and boost operational efficiency with the help of innovative technologies like Decentralised Identity and Verifiable Credentials. Audrius Ramoska, Soverio CEO and co-founder, shares on cheqd providing the missing payment rails for Soverio’s customers:
“As the physical and digital worlds merge, finding secure and trusted ways of verifying the identity or securely exchanging data is becoming essential. Our new partnership with cheqd enables new possibilities for our Soverio customers, not only in a traditional business environment as we know it now but in the near future too (CeDeFi, Web3, Metaverse, CBDC, SSI, etc.). cheqd’s payment rails for SSI are what we missed in our portfolio.”
Verio is a full-stack verifiable credential platform and digital wallet with use-cases ranging from user authentication, customer onboarding to complex multi-party interactions. Cristian Talle, Verio CEO, notes on the cheqd partnership:
“Verio is proud to join the cheqd network to bring payment utility to our verifiable credentials, a much needed innovation in the SSI space. We’re also excited to leverage cheqd’s network, which we can utilise for our customers, partners and to enter new verticals to expand our business.”
Mavennet, creators of leading trusted-data exchange platforms, builds and launches blockchain-enabled SSI products, with a focus on large enterprise implementations. Yevgen Malyshev, Chief Product Officer, expands on working with cheqd to create new business models around verifiable credentials:
"Mavennet is excited to join the cheqd network for digital credentials and self-sovereign identity. Mavennet builds enterprise digital products with blockchain at its core. Therefore, we're particularly pleased to also become part of the partnership network and work with cheqd to bring applications and services to new customers in the verticals we serve as well as create new business models around verifiable credentials."
Tobias Halloran, cheqd’s Head of Partnerships, adds:
“We’re excited to announce our second cohort of self-sovereign identity vendors, bringing our total to 35 strong partners, who will build with us, develop cheqd’s ecosystem and enter new partnership models to augment growth for their businesses. Each cheqd partner is as valuable to us as the next, and we look forward to scaling with our SSI vendors through our cheqd’s partnership network, and building their businesses through leveraging the network’s core utility.”
cheqd is a market-leading technology company enabling individuals and organisations to take full control of their data. It provides payment rails, customisable commercial models and governance structures for trusted data, including self-sovereign identity (SSI). Based on blockchain technology, cheqd is built upon a public permissionless network with a dedicated token - $CHEQ.
Founded in 2021 by CEO Fraser Edwards and CTO Ankur Banerjee, cheqd is a driver for innovation backed by Outlier Ventures, Evernym, Cosmos' Ignite and private investors, receiving a total raise of just over £2.4 million in its seed investment round.
For enquiries, please contact:
Alexandra Santos, Associate Partner