cheqd and Dock Form Alliance to Accelerate Global Adoption of Decentralised ID
Singapore, Singapore, September 18th, 2024, Chainwire
cheqd and Dock have announced an alliance to accelerate adoption of Decentralised Identity (DID) solutions, migrating Dock Certs and its clientbase across to the cheqd network. cheqd and Dock will remain independent entities while the $DOCK tokens will be merged into $CHEQ, aligning to accelerate digital identity worldwide.
Dock specialises in helping Identity Solutions Providers, including KYC, background check, and biometrics companies, launch ID ecosystems where their partners can create, share, and monetise verifiable digital credentials By creating an ID ecosystem, companies accelerate customer onboarding, boost transaction speeds, and enhance overall business efficiency. Dock offers a complete solution with a robust API, an intuitive web app, and secure ID wallet infrastructure. More than 600 companies have created accounts on Dock Certs, their Decentralised ID platform.
Meanwhile, cheqd has developed enterprise-ready trust and commercial infrastructure, enabling organisations to build end-to-end credential ecosystems and trusted data markets. Individuals can own, control, and monetise their data in a portable privacy-preserving manner. Over 80,000 addresses have been created on its mainnet while more than 200 organisations have established themselves. cheqd addresses the technical and commercial challenges that have impeded the growth of digital credentials. Its focus on privacy-preserving credential payments, ease of integration, regulatory compliance, and interoperability creates a robust infrastructure that can scale across industries.
The integration of cheqd and Dock’s established ecosystems will forge a powerful network of over 100,000 community members and hundreds of active partners. By combining cheqd’s trusted payment infrastructure with Dock’s versatile SaaS platform, this collaboration will deliver a scalable, cutting-edge solution suited to both traditional and Web3 industries such as finance, identity solution providers, government services, and more.
The partnership between the two decentralised ID specialists will see Dock’s mainnet and testnet traffic migrate to the cheqd network. In addition, the $DOCK token will be converted into $CHEQ tokens to provide a single asset for powering the single decentralised network.
“Dock and cheqd partnering establishes the most feature-complete software stack for decentralised ID (DID) encapsulating no-code management and privacy preserving payments for verifiable credential. This alliance is a clear signal that cheqd is the home for DID with Dock and their clients joining our ecosystem of partners and clients, as well as the merging of two communities who firmly believe in the vision of DID.” said Fraser Edwards, Co-founder and CEO at cheqd.
“This exciting partnership enables Dock to focus on new and innovative features for our clients delivered through our issuance and verification platform, Certs, while relying on cheqd’s cutting edge network for the blockchain related elements. This alliance enables both organisations to demonstrate their core capabilities, providing best in class solutions to our rapidly growing customer bases” said Nick Lambert, Co-founder and CEO of Dock Labs.
In the next five years, the decentralised identity market is projected to experience a CAGR of over 90%, transforming it into a multi-billion dollar industry. The enforcement of eIDAS regulations concerning the verification of individuals, businesses, and electronic documents creates an opportunity for decentralised solutions that can satisfy the needs of regulators and enterprises alike.
The joint network developed by cheqd and Dock will support a vast number of Decentralised Identifiers (DIDs) and include multi-SDK integration and open-source tooling including DIF Registrar & resolver, Credo, Veramo, Walt.id, and Vidos (Mailchain), enabling broad application development and integration opportunities. The duo’s commitment to compliance including the EU Digital Identity Framework and eIDAS 2.0 will be maintained.
cheqd is led by an experienced team including Co-Founder and CEO Fraser Edwards who has deep consortium and self-sovereign identity knowledge through leading the Known Traveller Digital Identity project with the World Economic Forum which included the Dutch and Canadian governments among its stakeholders. He holds patents in cross-ledger payments, and architected the payments on the Jasper-Ubin project with the Singaporean and Canadian Central banks. CTO and fellow Co-Founder Ankur Banerjee’s expertise spans distributed tech architecture, digital identity, and biometrics. He co-chairs the Technical Steering Committee at the decentralied Identity Foundation and is a co-inventor on multiple patents in blockchain and cloud AI. Javed Khattak, a fellow Co-founder and CFO, brings a wealth of financial, strategic and technical expertise. His background includes leading multi-billion-dollar funds and advising governments, central banks, and global brands.
Dock CEO Nick Lambert’s extensive experience in the blockchain space is complemented by COO Elina Cadouri, who previously founded and led Outsource.com, which grew to several million dollars in annual revenue, as well as one of the fastest-growing remote work platforms in the world, Remote.com. Dock’s Head of Product, Richard Esplin, has dedicated his career to open source and digital identity development and has extensive experience of consulting with government agencies and large enterprises on procurement, solution design, and process automation.
Since their inception, both organisations have developed a sizable client space within the digital ID and verification sector. cheqd has strategic partnerships, including DanubeTech, Finclusive and Northern Block globally across industries and use cases such as reusable KYC. Dock serves some of the largest ID companies in the world and will continue to drive the real-world adoption of the cheqd blockchain through its comprehensive offerings. Dock’s customers include Aliva, University of Arkansas at Little Rock, Classter, Gravity, BurstIQ and several other major ID verification companies with many more to come. cheqd and Dock’s respective client base forms a valuable asset that will be brought to bear in their goal of mainstreaming identity management using DIDs.
The alliance between cheqd and Dock will give builders and end users access to the latest products from cheqd and Dock respectively including the former’s imminent MiCA compliant stablecoin and fee abstraction technology, plus Dock’s forthcoming offering of mobile drivers’ licences (mDLs) and cloud wallet. Both companies are enabling compliance with the EU Digital Identity Framework and eIDAS 2.0, and are working to incorporate additional regulatory frameworks.
About cheqd
cheqd is the trust and payment infrastructure to enable the creation of Self-Sovereign identity (SSI), eID, digital credential businesses, and ecosystems. It provides privacy-preserving payments for credentials, bespoke network offerings, and support for multiple credential formats to underpin identity frameworks such as eIDAS 2.0 in Europe, and beyond. Its industry-leading Trust Registries allow ecosystems to gate and govern themselves through Trusted Issuer or Verifier lists, creating permissioned, permeable, or permissionless trusted data ecosystems as desired.
Website: https://cheqd.io/
Twitter: https://x.com/cheqd_io
Telegram: https://t.me/cheqd
Discord: https://discord.gg/yuSCqDEVNh
About Dock
Dock is a leader in decentralised identity solutions, empowering businesses to launch ID ecosystems where their partners can create, share, and monetize verifiable digital credentials. By creating an ID ecosystem, companies accelerate customer onboarding, boost transaction speeds, and enhance overall business efficiency. Dock offers a complete solution with a robust API, an intuitive web app, and secure ID wallet infrastructure, delivering everything needed for decentralised identity management.
Website: https://www.dock.io/
Linkedin: https://www.linkedirkn.com/company/docknetwork/
Twitter: https://x.com/docknetwo
Telegram: https://t.me/dockio