The Good Tech Companies - Dentity Acquires Trinsic’s Decentralized ID Platform To Expand Adoption Of Web3 Digital Identities

Episode Date: December 12, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/dentity-acquires-trinsics-decentralized-id-platform-to-expand-adoption-of-web3-digital-identities. Trinsic is the first identity acceptance network, facilitating 10x faster identity verification for 95 million consumers. Its product acts as a gateway into doz Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #dentity, #chainwire, #press-release, #dentity-announcement, #digital-identity, #blockchain-development, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Dentity has joined Trinsic’s Identity Acceptance Network, which enables seamless identity verification through digital IDs in web3 wallets like Dentity, mobile driver's licenses, and eID apps. The acquisition not only unlocks new growth opportunities but also helps Dentity and its partners scale faster and reach a wider range of developers looking to integrate decentralized identity into their platforms.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Dentity acquires Trinsic's Decentralized ID platform to expand adoption of Web3 digital identities by Chainwire. Santa Monica, CA, December 12, 2024, Chainwire, asterisk Dentity is proud to announce the acquisition of Trinsic's Decentralized Identity assets, setting the stage for a dramatic expansion of Web3 identity solutions. These assets represents advanced decentralized identity infrastructure in the world, having enabled thousands of developers to build user-controlled identity features into their applications. With this move, Dentity aims to strengthen its position as a global leader in decentralized identity.

Greater than, Trinsic's platform revolutionizes how consumers control and share their greater than personal data, said Jeff Schwartz, founder and CEO of Dentity. Greater than, this acquisition brings us one step closer to creating a safer, more secure greater than digital future, where individuals are fully in charge of their identity, and greater than can potentially earn from it, not big tech. Riley Hughes, co-founder of Greater Than Trinsic, shared, Dentity stands out as the most successful product built on Greater Than our decentralized identity platform. Their consumer scale and impressive Greater Than ecosystem of partners will allow Trinsic's technology to touch millions more, greater than making Dentity the perfect place

for this platform to reach its potential. Dentity has joined Trinsic's Identity Acceptance Network, which enables seamless identity verification through digital ID's in Web3 wallets like Dentity, mobile drivers licenses, and E-DAPs. Trinsic's network gives 100 million consumers instant access to Dentity's products and ecosystem partners. The need for digital IDENTITYNA world where fraud, online scams, and identity theft are on the rise, digital identity offers a powerful solution. In fact, online grooming crime shaves surged 89% and romance scams are up 160%. This explosion of fraud highlights a major challenge, anonymity online is both a tool for bad actor sand a barrier to trust. Decentralized identity is the key to unlocking

trust online. It empowers consumers to securely share only what's necessary, whether they're buying, selling, dating, or participating in the growing Web3 economy. For the first time, individuals, not third parties, control their data, cutting out the middlemen who earns from consumer information. The timing consumers are increasingly dissatisfied with how their data is controlled by large tech companies. Over 75% of people don't trust big tech with their personal information, and they're demanding more control over their digital lives. Gartner predicts that by 2026, 500 million smartphone users will regularly use a digital identity wallet,

a testament to the growing need for decentralized digital identity solutions. Combining Trinsic's powerful identity technology with Dentity's consumer apps and distribution channels accelerates the adoption of reusable, verified digital identities, helping to combat fraud, streamline online interactions, and give users the tools to manage their data. Greater than, the convergence of rising online fraud and consumer demand for more greater-than privacy-driven solutions makes this the perfect time for Dentity to scale. Greater than stated Schwat's a multi-billion-dollar OP Portunity the market for digital identity is projected to reach $325 billion by 2027, and with this acquisition, Dentity is uniquely positioned to capture its share. The acquisition not only unlocks new

growth opportunities but also helps Dentity and its partners scale faster and reach a wider range of developers looking to integrate decentralized identity into their platforms. Greater than, the future of Web3 and digital identity is about empowering individuals, greater than reducing online fraud, and making the internet a more trustworthy place. We're greater than building a future where digital trust is easy, secure, and owned by the greater than individual. About Dentity Dentity makes it easy for people to build and manage digital trust online. They empower individuals to create, control, and verify their identity credentials, allowing them to securely share private data with the people and organizations they interact with. DENTITY powers one of the world's most advanced decentralized identity infrastructure, enabling thousands of developers to integrate user-controlled identity

features into their applications. Density gives millions of consumers full ownership and control over their digital identities. Users can visit www.density.com for more information. About Trinsic Trinsic is the first identity acceptance network, facilitating 10x faster identity verification for 95 million consumers. Its product acts as a gateway into dozens of identity networks, mobile drivers licenses, and e-dapps. Companies use Trinsic to check for a digital ID before asking users to upload a physical ID document for verification. Since founding in 2019, Trinsic has raised $9.4 million from Georgian,

Kickstart Seed Fund, Osage Venture Partners and notable angel investors from the identity space. Users can visit Trinzik ID to learn more. Contact founder and CEO Jeff Schwartz Dentity Jeffrey at Dentity.com 818-481-9161. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.