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Equifax Partners with Oasis Labs to Issue Anonymous KYC Credentials to DeFi and NFT Users

Decrypt | Mat Di Salvo | Oct 26, 2022

Web3 KYC - Equifax Partners with Oasis Labs to Issue Anonymous KYC Credentials to DeFi and NFT UsersCredit reporting giant Equifax, best known for one of the largest data breaches in history, will now help build a data privacy solution for Web3 projects.

  • The company today announced that it has entered into an agreement with privacy-focused cloud company Oasis Labs to develop an identity management and know-your-customer (KYC) product for Web3 startups, such as DeFi protocols and NFT projects.

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  • But the decentralization that blockchain affords does not mean that Web3 products do not need to follow through with identity verification and KYC procedures, and Equifax and Oasis say that a KYC solution with “strong privacy protection” does not currently exist in the Web3 space.
  • The two companies will therefore work together to build a solution by issuing “anonymous KYC-ed credentials” to Web3 users’ wallets.

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