- In November 2024, the XRP Ledger activated the Digital Identity (DID) Amendment through XLS-40, enabling decentralized identity management. This update allows users to control their digital identities independently from centralized authorities, enhancing privacy and security in digital transactions. The amendment introduces Decentralized Identifiers (DIDs), which function as unique, verifiable identity markers, preventing identity forgery and streamlining Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. Analysts anticipate this development will boost adoption of decentralized finance (DeFi) services
- In September 2024, Arianee partnered with ENS Labs to revolutionize digital identity management on the blockchain. This collaboration integrates Ethereum Name Service (ENS) into the Arianee Protocol, enabling brands to link their public wallet addresses to an ENS name connected to their corporate domain. This innovation enhances security, authenticity, and transparency, redefining how brands interact with customers in the digital space. The partnership simplifies identity verification, ensuring trustworthy digital interactions while promoting decentralized identity solutions
- In January 2023, AWS partnered with Ava Labs to accelerate blockchain adoption across enterprises, institutions, and governments. This collaboration simplifies node deployment and management on Avalanche, enhancing the network’s scalability and flexibility for developers. AWS supports Avalanche’s infrastructure and decentralized application (dApp) ecosystem, offering one-click node deployment through its marketplace. Additionally, Ava Labs joined AWS Activate, a program assisting startups in blockchain innovation. This partnership strengthens Avalanche’s presence in Web3, making blockchain technology more accessible
- In May 2022, Microsoft introduced Microsoft Entra, a new product family designed to enhance identity and access management. This suite includes Azure Active Directory (Azure AD) alongside two new categories: Microsoft Entra Permissions Management and Microsoft Entra Verified ID. Verified ID is built on decentralized identity standards, providing a secure, interoperable, and self-owned identity solution. Meanwhile, Permissions Management offers comprehensive visibility and control over permissions across multi-cloud environments, helping organizations reduce access risks. This launch reflects Microsoft's commitment to strengthening security and trust in digital interactions
- In July 2021, Oracle Financial Services Software Ltd partnered with Everest to integrate blockchain technology into global banking operations. This collaboration enables Oracle’s banking clients to verify customer credentials and securely store them on a blockchain platform across multiple jurisdictions. The integration enhances Oracle’s banking software, improving Know Your Customer (KYC) compliance and facilitating remote customer onboarding. Everest’s biometric identity verification and eKYC solutions strengthen financial security while streamlining cross-border transactions
