Elastos has partnered with Metaverse Bank (TMB) to provide a decentralized digital identity service that allows users to securely verify all forms of personal credentials.
According to an official press release, the service will cover a wide range of applications, from eKYC banking verification to educational qualifications. Include professional references, age, residency or financial status, or any other qualifications required.
Metaverse Bank uses blockchain technology to record, secure, and match transactions based on any type of unit of value, such as financial assets, access/usage rights, ownership, or other forms of credentials, including identity. To do. Thanks to the development and use of EDA, the nature of the asset is virtually irrelevant.
EDA facilitated by blockchain includes all information including not only the value of an asset, but also ownership, provenance, history, and even physical location and jurisdiction. Users on either side of the transaction retain the autonomy to choose their preferred assets, such as personal identification, ensuring flexibility and control throughout the exchange process.
Decentralized Digital Identity (DID) is at the heart of Elastos' Web3 vision. The so-called SmartWeb, which turns the Internet into a user-driven, interactive ecosystem.
The company said it is about fusing decentralized technology and security, moving from centralized control to a more democratic space where users own and control their data. Through our partnership with TMB, users will be able to verify their credentials on their terms, giving them complete and absolute control over what they share and for what purpose.
TMB's services are powered by Enigma3, an AI-driven platform that can recognize and adjust all forms of transaction value, allowing individuals to connect directly with service providers. According to the announcement, the entire infrastructure was developed in accordance with open banking standards.
TMB officials commented that the absence of intermediaries controlling access and usage removes the final barrier to entry. Such systems are more comprehensive than previous centralized systems.
About Metaverse Bank
Metaverse Bank is a transaction platform custom-built for the Metaverse and Web3 business models, allowing payments and other transactions to seamlessly move between cryptographic tokens and real-world assets. It is based on the Enigma3 engine, which is powered by AI and facilitates a multi-inclusive economic model.
Elastos is a public blockchain project that integrates blockchain technology with a reimagined set of platform components to produce a modern internet infrastructure that inherently protects privacy and ownership of digital assets. The company's mission is to build globally accessible open source services and enable developers to build an Internet where individuals own and control their data.