Oasis Labs partners with Equifax to power on-chain KYC solution for the Web3 Economy
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Wednesday, October 26, 2022
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SAN FRANCISCO, Oct. 26, 2022 /PRNewswire/ -- Today, Oasis Labs, a privacy-first cloud computing platform on blockchain technology, announced a partnership with Equifax, a global data, analytics and technology company, to deliver a best-in-class identity management and Know Your Customer (KYC) credentialing solution for Web3 companies and individuals wishing to participate in the Web3 economy, anywhere in the world.
Key Points:
- Powered by award-winning identity, fraud and compliance data from Equifax, Oasis will build a first-of-its-kind decentralized identity management and KYC solution for Web3 on the Oasis Platform.
- Oasis' unique privacy-preserving capabilities ensure that individual identity data is processed with confidentiality while maintaining proof of correctness and audit trails on-chain on the Oasis Network.
- "We are excited to partner with Equifax in this Web3 endeavor," said Professor Dawn Song, founder of Oasis Labs.
- To achieve compliance requirements, companies typically rely on third-party KYC providers, but so far there hasn't been a KYC solution tailored to the Web3 space with strong privacy protection.