New York, NY, Might 29, 2023 (GLOBE NEWSWIRE) — zkMe, the zero-knowledge Id Oracle supplier, has efficiently secured $2 million in pre-seed funding.Regardless of closing the funding spherical on the finish of final yr, the corporate has solely launched the official announcement now after popping out of stealth final month.
Within the period of digital transformation, managing identification and private info has develop into a important concern for people and organizations alike. zkMe permits customers to selectively disclose their credentials to licensed events, with out compromising their privateness; granting them full management over their digital identities. Customers can create and handle their digital identities with out the worry of their private info being uncovered. The protocol has potential use instances in varied industries, together with anti-sybil safety for truthful airdrops, nameless net knowledge attestation for GameFi integrations, and personal KYC compliance for DeFi.
zkMe has carried out an progressive and safe method for dApps to effectively confirm person eligibility whereas protecting their privateness protected. With the SSI cell app developed by zkMe, customers can encrypt and anonymize their knowledge and show claims on their very own system utilizing ZKPs. This ensures that nobody processes their private identifiable info apart from themselves. The ZKPs are verified by a community of MPC nodes earlier than being minted onto the person pockets as an SBT. zkMe’s proof-of-personhood strategy ensures the DID holder’s uniqueness. DApps can question nameless sure/no statements from the zkMe community utilizing the SBT, corresponding to whether or not the person is over 18 years previous, to make sure person eligibility with out accessing, processing, or storing any delicate knowledge.
The staff behind zkMe consists of extremely skilled professionals in varied fields together with cryptography, good contract, UX, and front-end growth. With a complete of 23 members, the staff combines tutorial and company expertise; with 3 PhDs with cryptography analysis and 15 builders with big-tech backgrounds. The startup focuses on bettering privateness and safety in digital interactions utilizing zero-knowledge proofs, machine studying, and decentralized identities. With this current funding, zkMe goals to finish testing and onboard prospects on mainnet inside a month. They’ve introduced first go-live partnerships with Infrastructure, GameFi, and DeFi tasks by means of their social media channels.
With the US Division of the Treasury and the SEC implementing stricter KYC/AML necessities in DeFi, options like zkMe’s zero-knowledge KYC are essential. zkKYC permits establishments to take part in DeFi whereas assembly compliance requirements. It performs an important function in making certain verified customers entry monetary companies in a permissioned DeFi ecosystem. zkKYC facilitates safe identification verification with out third-party verification, giving customers extra management over their knowledge and privateness. It additionally supplies higher transparency and belief in DeFi, lowering the danger of fraudulent actions or knowledge breaches. Anti-Sybil and zkKYC are simply the primary credential use instances, additional use instances for the verification of customers’ web2 actions and social standing are anticipated to drop quickly.
“This newest spherical of funding is a promising first step for us to determine a a lot wanted trust-layer for digital interactions.” says Alex Scheer, CEO and Co-Founding father of zkMe. “We consider that selective, safe and environment friendly credential verifications are of basic significance for web3 as a complete to develop and appeal to new customers and progressive use instances. We’re thrilled to have the help of Circle and Spartan as we work to construct the zk-credential community of web3 and assist customers confirm themselves privately.”
Web site: https://www.zk.me/