Paris, April 12, 2022 (GLOBE NEWSWIRE) -- Synaps, the provider of KYC and KYB services for the cryptocurrency industry, today announced the Alpha launch of Anima, its self-sovereign identity protocol that allows users to manage their identity in a decentralized manner, and retain control over their personal data. Through a strategic partnership with Aleph.im, Anima users’ identity attributes will be encrypted and stored on Aleph.im’s cross-blockchain decentralized storage and computing network. At launch, users will be able to create their Anima, or digital twin, to decentralize and store identification documents including passports, drivers licenses, ID cards, and resident permits.
Synaps is a KYC and KYB provider for over 250 cryptocurrency companies including Jump Trading, Terra, Polkadot, Polygon, Moonbeam, Oasis Labs, and more. Synaps provides businesses with a tailored identity verification solution, while empowering individuals with a digital identity that can be easily and securely shared to meet various KYC requirements.
Data privacy concerns prompted Synaps to create a decentralized digital identity solution, Anima Protocol, to ensure that users maintain ownership of their sensitive data, as well as enable them to share only required information instead of the entirety of their digital identity attributes. Anima aims to partner with other credential issuers to expand the categories of documents that can be decentralized through the protocol.
Anima will provide the most comprehensive solution in the ecosystem, with a focus on user-friendliness by leveraging existing wallets like Metamask and Ledger that users understand and use on a daily basis.
“In the field of IT, security and user experience are often put on a scale where if you want the most out of one, you need to compromise the other. With Anima, we provide a protocol that allows a more convenient way of sharing your data, and we do it while providing a better solution that respects your privacy,” said Riwan Lasmi, CTO of Synaps.
In addition to prioritizing user and client convenience, Anima’s goal is to design a system in which all stakeholders will be appropriately incentivized through the Anima Protocol:
- Anima owners benefit from a strong user experience and increased control over their data.
- Crypto companies and platforms can increase their conversion rates by providing users with instant access to KYC-restricted platforms.
- Credential issues benefit from increased scalability when performing unique verifications for each user.
Aleph.im will contribute the infrastructure necessary for the persistent storage of users’ encrypted KYC documents. Through Aleph.im’s cross-blockchain decentralized storage and computing network, KYC documents are securely maintained, with hashes to access these documents stored on-chain. Only Anima users will be able to view and grant access to these documents, empowering Web3 with a seamless, reusable, and privacy-preserving digital identity solution.
“We’re thrilled to provide the infrastructure and resilient storage for Synaps and Anima protocol. Synaps has been a long-time supporter of ours, by running nodes on the Aleph.im network since day one. Digital identity will play an incredibly important role in the growth of Web3, and it’s important to champion solutions like Anima which prioritize composability, security, and user-ownership,” said Jonathan Schemoul, CEO of Aleph.im.
At present, no decentralized identity mechanism has been adopted globally, despite the massive potential and value of self-sovereign digital identity, and continued recommendations from certain groups such as W3C and the Decentralized Identity Foundation (DIF). Additionally, there is significant and urgent regulatory pressure regarding issues like the regulation of non-custodial cryptocurrency wallets, which will serve to undermine the ethos of a truly decentralized Web3.
“As a new industry, our chances to build a relevant regulatory framework seem quite low. However, if we can't influence the laws, we can leverage our ability to innovate and create the tools that match our ambitions. We are creating a privacy-preserving protocol – built by crypto users, for crypto users and companies – that can address future regulations while remaining aligned with the principles of a democratized and user-owned Web3,” said Florian Le Goff, CEO of Synaps.
To participate in Anima’s Alpha launch, you can now create your Anima on the app or directly on Synaps partners' platforms during your on-boarding process.
Please feel free to share your feedback with the Anima team via their official Telegram: https://t.me/animadi
About Synaps:
Synaps is a KYC and KYB provider. Synaps helps its customers and users meet their identity compliance requirements. The company provides businesses with a custom identity verification solution and empower people with an identity they can easily set up and share.
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About Anima Protocol:
Anima is a self-sovereign identity protocol that enables users to manage their online identities in a decentralized way.
About Aleph.im:
Aleph.im is a distributed cloud platform that provides serverless trusted computing services, file storage and database hosting to its users. Aleph.im offers a decentralized solution that could rival traditional centralized cloud computing. It provides dApps of any chain instant access to database solutions thanks to its scalable peer-to-peer network and programming language-agnostic interface. For more information visit aleph.im
Explore Aleph.im’s indexing solution, staking dApp, and NFT & IPFS Backup dApp.
Follow aleph.im on Twitter: @aleph_im
