Procial announces the launch of the DSI Protocol for building identity infrastructure for Web3
[ad_1] Bengaluru (Karnataka) [India]: Procial, a startup on the mission to build infrastructure for Web3 and bring decentralization to the masses has announced the launch of its DSI Protocol to build...
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DSI Protocol is supported by some of the best OGs and micro VCs in the domain of Web3 like Mih Ventures.
“Identity theft and fraud cause more than $60 billion in losses each year, which will only grow in the future.” Decentralization is the solution. “If every person on the planet has a Decentralized Identity (DID), they will be able to access better and more secure services such as banking and employment,” says Anant, CEO of Procial. “The internet’s future is decentralised, beginning with secure identities.”
This news comes in the wake of many recent initiatives and accomplishments of the company, including:
DSI Protocol has closed an undisclosed investment round from Mih Ventures (mih.VC) and some of the best OGs in Web3.
By launching DSI Protocol, Procial is building upon the idea mentioned by Vitalik Buterin in his recent paper on SBTs and why self-sovereign identity and credentials are important for the future of the decentralized world.
DSI is a multi-chain self-sovereign identity protocol enabling users to maintain a unified identity over Web3. It allows users to manage all their digital assets as well as on-chain and off-chain credentials through a single identity which allows them to build their reputation and own their data and identity in a trustless and secure manner.
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