How many times have you needed to use some form of photo ID to verify your identity? For many of us, the answer is countless. Whether you’re opening a bank account, buying a car or even just picking up a concert ticket, photo identification is almost always required.
But in the decentralized crypto universe, identity verification is a little trickier. You may need a photo ID to create an account on a large exchange like Coinbase, but you don’t need one to make most individual crypto transactions. That makes it hard for crypto users to make complicated transactions and even harder for crypto and Web3 companies to identify a user’s digital footprint.
Enter Litentry. Litentry analyzes blockchain data to find transactions that belong to an individual user, compiles those transactions and generates an ID score for that user. And it does it all without actually revealing that user’s real-life identity.
We think Litentry’s approach to ID verification is brilliantly unique. In this episode of Behind the Pick, Vin Narayanan and Allison Brickell discuss what makes Litentry’s digital ID so effective, why we like the Litentry team and more.
Thanks for watching!