DigiShares

DITO: Decentralized ID for Tokenization

There is currently no satisfactory DID standard for tokenized assets

Existing attempts to create a Decentralized Identifier (DID) standard for the tokenization ecosystem have fallen short due to:

These issues hinder mainstream adoption and create barriers to interoperability.

Introducing DITO: Decentralized ID for Tokenization

Tech summary

Key participants in the DITO framework

1.Issuer – an entity that issues verifiable credentials – (KYC Providers)

2.Identity Holder – an entity that holds claims to the verifiable credentials – (Users)

3.Verifier – an entity which verifies the proof presented by the Identity Holder – (Tokenization Platforms, Exchanges, dApps)

User Journeys

First time (without Verifiable Credential):

    1.Joins a Verifier’s platform

    2.Completes KYC with DID issuer

    3.Receives a Verifiable Credential

    4.Purchases permissioned tokens (such as security tokens)

Subsequent times (with VC):

    1.Joins any Verifier’s platform

    2.Automated on-chain verification in real time as User connects wallet

    3.Purchases permissioned tokens (such as security tokens)

First steps

DigiShares and Polygon are collaborating to create an extension of Polygon ID’s verifiable credentials.

Two leading KYC providers, Sumsub and Fractal ID, are joining the new framework.

Initial support for Polygon, Ethereum and their test-net counterparts, as well as Metamask and several other wallets

Further steps

Seek feedback from the ecosystem.

Get as many issuers, platform providers, exchanges, KYC providers, and dApp developers as possible to adopt DITO and make it the main DID standard.

Incorporate accreditation checks within the framework.

Learn more about DITO

Webinar

  • https://www.youtube.com/watch?v=EPmgLX6kmoM¬†‚Äč
  • ‚ÄúEmpowering Interoperability in¬†Tokenization with Decentralized¬†Identity‚ÄĚ by¬†QualitaX, Jan. 25th,¬†2024‚Äč
  • Claus Skaaning, CEO of¬†DigiShares,¬†Martin¬†Hotka, Blockchain¬†Developer at¬†DigiShares, and¬†Sebasti√°n Rodr√≠guez, VP of¬†Product at Polygon ID provide¬†valuable insights into the¬†collaboration and the potential¬†impact of DITO on the DeFi and¬†tokenization landscapes‚Äč

Webinar

                    Participants:

  •  Claus Skaaning – CEO (DigiShares)
  •  Martin Hotka – Blockchain Developer (DigiShares)
  •  Otto Mora – America Technical Sales Lead   (Polygon ID)
  • Boris Spremo – Tokenization Lead (Polygon Labs)

Press Release

  • https://digishares.io/dito ¬†‚Äč
  • ‚ÄúPolygon and¬†DigiShares¬†to Collaborate¬†on Creating Decentralized ID¬†Framework for the Tokenization¬†Ecosystem‚ÄĚ December 4th, 2023.‚Äč

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