RealEstate.Exchange (REX), a platform for real estate trading, offering investors a regulated environment to buy and sell tokenized shares of real estate assets, is proud to announce its integration with Privado ID on the Polygon PoS chain. Privado ID is the core technology for decentralized identity (DID) management. This collaboration is set to enhance the interoperability of the tokenization ecosystem, allowing users to reuse their KYC and identity verification across multiple platforms seamlessly.
“The integration of Privado ID into REX not only fortifies our commitment to security and compliance but also marks a significant advancement in making real estate investment more accessible and efficient. By leveraging DITO, our open and independent DID standard developed on this framework, we are paving the way for a more interconnected and user-friendly digital asset marketplace.” – Claus Skaaning, CEO of DigiShares and RealEstate.Exchange
Privado ID is designed to support the DITO standard, which is built to ensure that KYC and identity verification processes are not only streamlined but also reusable across the decentralized finance landscape. This system enhances user convenience and trust, reducing the need for repeated verifications and promoting a more fluid interaction across financial platforms.
“Our technology at Privado ID enables the highest standards of performance, security and privacy for sensitive data crucial to the Real World Asset (RWA) economy. RealEstate.Exchange (REX) is revolutionizing the real estate industry, and our work together exemplifies how decentralized technologies are transforming global markets everywhere with greater efficiency and scalability.” – Evin McMullen, Co-founder at Privado ID
The initial KYC provider for this integration, zkMe, plays a crucial role by offering robust identity verification services that underpin the security and reliability of the transactions on REX. Also the implementation adheres to promotion of standards for KYC credentials by leveraging the “basic person schema” which Privado ID has been leading the development of at the Decentralized Identity Foundation (DIF).
This initiative is expected to drastically reduce barriers to entry for new investors, democratizing access to real estate investment through tokenization. The openness and independence of DITO ensure that it is freely usable by any entity, promoting widespread adoption and innovation in the space.
About RealEstate.Exchange (REX)
RealEstate.Exchange is a platform for real estate trading, offering investors a regulated environment to buy and sell tokenized shares of real estate assets. REX combines blockchain technology with real-world applications to transform real estate investment and management. In the U.S., REX will be powered by Texture Capital’s SEC-registered Alternative Trading System (ATS).
About Privado ID
Privado ID is a software development company building tools and infrastructure for the future of seamless experiences and self-sovereign identity. Privado ID’s privacy-centric, decentralized identity framework enables trusted and secure relationships between organizations, apps and users onchain, online and in real life. The Privado ID team has also contributed core research and development in cryptography, identity frameworks and secure, private identity management, including open source protocols like PolygonID, and the Iden3 Protocol.
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