RNS.ID, a Web3 KYC identification platform, announced that it would be merging with zkSync. The on-chain KYC solution is designed on a privacy engine.
The merger increaseOn Nov. 30, RNS, a digital Web3 identification platform created to allow the application and issuance of IDs supported by sovereignties, announced that it would integrate with zkSync to provide on-chain Know Your Customer.
According to a press release that RNS shared that its on-chain KYC solution is built on a “privacy engine” that encrypts users’ identity attributes or properties into various “hashed slices” with multiple signature verifications.
RNS combines the fragmented identity property data of users and creates encrypted proofs from metadata using ZK proofs. The business also claimed that RNS gives users the ability to develop their own “minimum disclosure identifying information system” for limited uses, limiting the loss of personal data and lessening the likelihood of identity theft.
The goal of ZkEVM’s integration with RNS is to make self-sovereignty-based solutions in the developing field of digital identification possible. Additionally, the integration aims to make use of blockchain technology to provide identity verification without disclosing sensitive data about users, allowing users to communicate with the Web3 ecosystem in private.
RNS is currently supported by more than 80% of cryptocurrency exchanges, according to the business, including many more like Binance, Coinbase, Bitmart, KuCoin, Gate.io, Bybit, and Huobi.
Palau became the first independent nation to provide digital residence IDs to world citizens thanks to a partnership between RNS and Palau. It is said to be the first national identification card to be issued as “soulbound ID NFTs” on the blockchain.
By integrating blockchain technology into their systems, it appears that nations all around the world are gradually starting to show interest in Web3. It was reported on November 29 that Dominica had partnered with Huobi to establish a national token and digital identity initiative.
The government of Dominica has agreed to work with Huobi to create Dominica Coin (DMC) and digital identity documents (DID). Holders of DMC will be given digital citizenship in the nation. DMC and DID will be distributed on Huobi Prime and used as login credentials for a future metaverse portal centered in Dominica.
