Two decentralized identity (DID) platforms, cheqd and Dock, have formed a strategic partnership to expedite the acceptance of DID solutions, according to an article on Finbold published on Wednesday, September 18.
This collaboration will establish a vast network encompassing over 100,000 users and numerous active partners.
Dock specializes in assisting identity solutions providers with KYC procedures, background verifications, and biometrics to enable the creation of verifiable digital credentials. Its services streamline customer onboarding, hasten transactions, and enhance operational efficiency. The platform offers a robust API, user-friendly web apps, and a secure ID wallet infrastructure used by more than 600 clients.
On the other hand, cheqd provides an enterprise-level framework for constructing credential ecosystems, allowing clients to manage and monetize their data. With 80,000 addresses on its mainnet and 200 partners, cheqd addresses key challenges in digital privacy, compliance, and scalability across various industries.
The partnership between Dock and cheqd will deliver scalable solutions for sectors like finance and government services by integrating cheqd’s payment infrastructure with Dock’s flexible SaaS platform. As a result of this collaboration, Dock’s mainnet and testnet traffic will shift to the cheqd network, converting DOCK tokens to CHEQ; however, both platforms will maintain separate operations.
Fraser Edwards, CEO and Co-founder of cheqd, emphasized the significance of this alliance as it creates a comprehensive software stack for decentralized ID, combining no-code management and privacy-centric payments for verifiable credentials.
The anticipated growth of the decentralized ID market, with a projected over 90% CAGR, is expected to be fueled by regulatory requirements such as the eIDAS regulations in Europe. The joint cheqd and Dock network aims to offer robust support for DIDs, featuring multi-SDK integration and open-source tools while adhering to regulatory obligations.
With strong leadership from individuals like Fraser Edwards, Ankur Banerjee, Nick Lambert, and Elina Cadouri, the alliance is poised to drive mainstream adoption of decentralized identity. The partners have also announced upcoming innovations like cheqd’s MiCA-compliant stablecoin and Dock’s mobile driver’s licenses and cloud wallet to further enrich the ecosystem.