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Opolo and Elastos Partner to Put Identity into Web3 Security Solutions
We’re thrilled to announce that Elastos is partnering with Web3 security tool Opolo who will deploy Elastos’ open-source Web3 solutions to develop enhanced security and identity mechanisms for the Opolo ecosystem. With the only blockchain dedicated to secure, interoperable, self-sovereign identities and credentials, Elastos will provide Opolo with W3C compliant decentralized identifier (DID) solutions, decentralized storage and credibility scoring while dApps and other services will be made available through Elastos’ Essentials Web3 pass. As web3 transforms social interaction it becomes clear that a solution to digital identity is at the heart of shaping truly secure crypto payment and identity solutions.
The partnership will allow users to store, transfer and manage Elastos native tokens and assets such as NFTs while also providing access and use of the Opolo Cold wallet and other services directly from the Essentials dApp browser with the opportunity to create custom widgets for use in the Web3 pass. The programme will also integrate the CreDA credit identity and scoring mechanism into the Opolo offer to allow next generation credit scoring and access to better interest rates and lower levels of collateralisation for Opolo users.
Some of the key benefits of the partnership will be that Opolo users can automatically create and manage self-sovereign DIDs, with support for KYC, verifiable credentials and contact lists. Through Essentials, users will also be granted access to free de-centralized cloud storage. As a native wallet and Web3 pass, Essentials fits well within Opolo’s strategy to become the security tool for web3 and crypto usage.
Fakhul Miah, Elastos’ head of growth added: “In many ways, we share a similar journey having engaged with the need for decentralized security it has become clear that identity and management of DID sits at the heart of a security solution. Elastos has been quietly building a full suite of open source, decentralized technologies for identity, however, security and keeping ahead of threats is our number one priority in evolving the platform. Making sure communication, data storage and commerce are fully secure means the next generation of creative platforms, financial services and business processes enables users to safely and securely forge their digital destinies.”
Dr Fahad Fazal, Opolo Founder says, “With the advent of advanced hacker tools, malwares, viruses, it’s pretty easy to steal digital assets such as NFT or digital identities, so there is a huge need to secure digital assets and digital identities in this era. Thanks to Opolo cold storage technology we can achieve it with a single touch. We are happy to collaborate with Elastos and build together an infrastructure that can achieve this common goal of secure digital identities.”
It was this shared vision for a more inclusive and equitable Web3 financial system that brought Opolo and Elastos to partner together. Moving forward the ability to integrate with Elastos projects such as CreDA’s alternative web3 credit rating and Elacity’s Digital rights management approach to NFTs and other content stored on the Wallet creates a host of new Web3 tools.
Opolo is a leading provider of cold wallet and security solutions to businesses and consumers in the field of Web3 cyber safety. By really getting to know our customers, our talented team is able to offer unique and customized Web3 security solutions backed by data driven analysis and broad research.
Opolo is making the most secure products in the field of data security. Our vision is to create products that can help solve big problems and challenges in the field of security. One of the major challenges of Web3 era is protecting digital assets against exterior threats. While solving this challenge our aim Is to achieve the products that are very smooth and very easy to use for our customers.
The article and graphics were created by the Elavation Team.