Intro
PID——Redefine Your Crypto Wallet
Last updated
PID——Redefine Your Crypto Wallet
Last updated
The call for crypto mass adoption has echoed for years, yet blockchain remains an isolated realm, disconnected from everyday digital life. Even with Web3's development of strong tools and infrastructure, the majority of users are still entrenched in Web2's centralized platforms, which govern their data and form isolated data silos.
Web3 has not yet delivered on its promise of user ownership, as it struggles to leverage existing real-world data effectively without compromising user privacy or introducing new trusted intermediaries.
Until now, with the launch of incorporating Zero-Knowledge Proof (ZKP) and attestation services technologies, existing data from Web2's centralized platforms can now be utilized on-chain while also acting as a bridge for Web3 applications to operate off-chain.
, as a Consumer PayFi infrastructure, seeks to seamlessly bridge the on-chain crypto realm with the off-chain real world using blockchain technology. Starting with seamless crypto payments, it extends into on-chain financial services and beyond. In this endeavor, PolyFlow PID serves as an essential component.
Decentralized Identity (DID) represents a revolutionary approach where individuals generate a public-private key pair to create a DID Document, housed on decentralized networks like blockchain. This shift from centralized control to individual ownership embraces self-sovereignty. In PolyFlow’s PID system, users link credentials to their DID, stored as Verifiable Credentials (VCs), ensuring privacy during verification while maintaining asset ownership.
PID is a DID tailored for payments, connecting real-world identities with crypto wallets. It enables users to store, verify, and manage existing real-world data in the form of digital credentials, meeting compliance requirements while safeguarding privacy and promoting self-sovereignty.
As highlights, “PID should function like a physical wallet, holding cash, IDs, credentials, and cards.” In this context, PID’s potential applications are extensive, offering a versatile tool for the evolving digital landscape.
For crypto to become mainstream, it needs to address users' needs on the existing broad internet. PID lays the foundation for this by enabling encrypted trust from existing real-world data without third-party involvement, offering privacy-preserving user-controlled verification, and creating a composable identity layer.
PID not only redefines crypto wallets but also reshapes the boundaries between Web2 and Web3. This paves the way for new applications based on verifiable real-world interactions. As our online lives become increasingly accessible through verifiable claims, a new wave of applications will thrive, offering users greater control, reducing friction, and unlocking true value.
PID represents more than just another protocol; it embodies a new approach to how information moves between platforms and how trust is built in this new digital ear.
A series of PID-related tasks will soon be released on , inviting users to explore PID use cases with us. Stay tuned.