(MENAFN- GlobeNewsWire - Nasdaq) Hong Kong, China, Dec. 02, 2024 (GLOBE NEWSWIRE) -- zkMe Network celebrates its second anniversary with significant ecosystem growth and technological advancement, marking the occasion with the launch of a strategic ecosystem rewards program and plans for a comprehensive tokenomics model in 2025.
As a decentralized identity infrastructure powered by zero-knowledge proofs, zkMe provides private and secure identity verification with enhanced data protection. The platform enables users to authorize multi-chain applications with a single verification, serving as an all-in-one identity solution across chains.Through its decentralized node network, zkMe Network ensures transparent verification processes while allowing users to maintain control of their data and earn rewards from credential sharing.
As the Web3 industry navigates increasing regulatory requirements, with the EU's MiCA regulations taking effect in 2025, zkMe's zero-knowledge proof technology continues to set the standard for privacy-preserving compliance solutions. The platform's innovative approach has earned recognition from leading investment firms, securing over $6 million in total funding, including a recent $4 million seed round led by Multicoin Capital with participation from OKX Ventures and Robot Ventures.
"In the digital age, privacy data may be your most valuable personal asset," states Alex Scheer, Founder and CEO of zkMe. Born in Germany, Alex's vision for data sovereignty emerged from deep reflection on digital privacy. "Every day, we leave digital footprints through transactions, investments, and social interactions in the blockchain ecosystem. While these activities create value, they can also become vulnerabilities that expose our personal information. This profound understanding of digital privacy challenges drove our team to establish zkMe as a global privacy solution," Alex explains.
Perhaps what's most striking about zkMe is the team's approach to building. "Think of us as modern digital craftsmen," Alex shares with enthusiasm. "We have the precision of German engineering but move at Web3 speed. While others might focus on crafting fancy narratives, we hands-on build identity infrastructure that deploys advanced identity solutions across 20+ major blockchain networks.
Self-sovereign identity, value-generating data sharing, and decentralized privacy are not just goals-they're our foundations."
In crypto, you need to be fast AND flawless - that's the standard we've set for ourselves." This patient, methodical approach has served them well in an industry often characterized by hype cycles.
The team's market assessment quickly proved accurate. "The market response has been remarkable," Alex explains. "We're seeing users actively seek out our privacy-preserving solution, especially given their growing concerns about identity data breaches. Leading investors have also recognized this potential, backing our vision with their support. These strong signals confirm what we believed from the start - that decentralized identity verification would become essential for the future of Web3."
zkMe has established partnerships with more than 70 Web3 projects across various sectors, including Real-World Asset (RWA) integration, On-and-Off-ramps platforms such as Plume and Xion Global, as well as DeFi and Gaming Infrastructure projects like KyberSwap, Hinkal, Singularity, and CARV. The platform's mobile application has reached 33,090 downloads and processed over 660,000 user attestations, demonstrating strong user adoption and market demand.
The company's technological infrastructure features several key innovations:
Zero-knowledge proofs (ZKP): A decentralized identity network powered by zero-knowledge proofs, enabling private verification while meeting compliance requirements
Reusable credentials: An all-in-one identity verification solution that unlocks multi-chain application access with just one verification
zkMe Identity Network : A decentralized network that ensures transparent verification processes while allowing users to control their data and earn rewards from credential sharing
Looking ahead to 2025, zkMe will introduce a comprehensive tokenomics model that aligns ecosystem value with participant contributions. The platform has developed a strategic framework that focuses on three key pillars:
Early supporters will receive ecosystem rewards through a structured incentive mechanism Active users will gain priority rights in future value distribution events Data contributors will benefit from a sustainable value-sharing system
The robust technological foundation enables zkMe to deliver unique value across the entire Web3 ecosystem. For users, the platform ensures true data sovereignty, enabling both secure verification and value capture through reusable credentials. Projects benefit from streamlined compliance infrastructure that dramatically reduces KYC costs while eliminating data breach risks. Meanwhile, developers can leverage a comprehensive SDK and API suite for rapid ecosystem integration and expansion.
As zkMe marks its second anniversary milestone, the platform acknowledges the crucial role of community support in its development journey. The upcoming year promises to be transformative, as the maturation of tokenomics and decentralized governance structures will usher in a season of unprecedented rewards for early contributors. Through these concrete actions, zkMe demonstrates that in this era of possibilities, privacy and compliance are not mutually exclusive choices but complementary forces driving industry advancement.
"We're not just solving current identity verification challenges," Alex emphasizes, outlining a grander vision. "Through self-sovereign identity management, users will actively match services and discover opportunities, truly creating value from their own data. This embodies the real spirit of Web3 - decentralization and anonymity while giving users complete control over their digital assets and identity data."
About zkMe
zkMe builds zk Identity Oracle for truly decentralized & anonymous cross-chain credential verifications.
No personal information is ever processed by anyone but the user themselves. Data leaks & misuse by the service provider are impossible; full interoperability & reusability result in a superior ID solution. zkMe is the only FATF compliant KYC provider to be fully decentralized, offering a full suite of products from anti-bit/anti-sybil, to KYC and more.
Contacts:
Email: ...
Website:
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency trading involves risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
CONTACT: Johnny Chan
zkMe
marketing at zk.me
MENAFN02122024004107003653ID1108947376
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.