December 12, 2024 – Santa Monica, California
The deal brings together industry leaders and sets the stage for the next era of decentralized digital identity.
Dentity is proud to announce the acquisition of Trinsic’s decentralized identity assets, setting the stage for a dramatic expansion of Web 3.0 identity solutions.
These assets represent 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.
Jeff Schwartz, founder and CEO of Dentity, said,
“Trinsic’s platform revolutionizes how consumers control and share their personal data.
“This acquisition brings us one step closer to creating a safer, more secure digital future, where individuals are fully in charge of their identity and can potentially earn from it not ‘Big Tech.’”
Riley Hughes, co-founder of Trinsic, said,
“Dentity stands out as the most successful product built on our decentralized identity platform.
“Their consumer scale and impressive ecosystem of partners will allow Trinsic’s technology to touch millions more, 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 IDs in Web 3.0 wallets like Dentity, mobile drivers licenses and eID apps.
Trinsic’s network gives 100 million consumers instant access to Dentity’s products and ecosystem partners.
The need for digital identity
In a world where fraud, online scams and identity theft are on the rise, digital identity offers a powerful solution.
In fact, online grooming crimes have surged 89%, and romance scams are up 160%.
This explosion of fraud highlights a major challenge anonymity online is both a tool for bad actors and 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 Web 3.0 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…
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