Monthly Update — May 2024
INTRODUCTION
Welcome to zkMe's Monthly Update for May!This month has been filled with exciting developments, community engagements, and new partnerships, all driving our mission forward to provide secure, privacy-preserving identity verification solutions. zkMe upholds the highest standards of compliance and AML by building zk Identity Oracles for truly decentralized and anonymous cross-chain credential verifications.
TL;DR
- Attestations increased by 29% to 651K.
- zkMe App downloads soared by 61.9% to 34K.
- Attended Consensus 2024.
- Announced integrations with Aptos, BNB, Arbitrum and Ronin.
- Formed partnerships with Hinkal, DOP, Xion and Impossible Finance.
- Product update highlights: The zkMe App and Dashboard have added new document verification and program tracking features, the Widget SDK now supports Program Numbers and zkKYC on Ronin Mainnet, and our blog and homepage have been updated with the latest project information.
Consensus 2024
Last month, the zkMe team had the honor of participating in Consensus 2024, hosted by CoinDesk. This event is one of the largest and most influential gatherings in the blockchain space. We were excited to demonstrate to both existing and potential partners how zkMe's Zero Knowledge (ZK) Identity Layer addresses many of the current market challenges.
Read zkMe Attends Consensus 2024 in Austin to learn more details.
PRODUCT
Statistics
In May, our platform experienced notable growth compared to April. The number of attestations, encompassing all zkMe-supported verification steps including SSI, MeID, zkPoC, AML, zkPoL, zkKYC, and activity participation, surged by 29% to reach 651K, demonstrating the robustness of our verification processes. Additionally, downloads increased by an impressive 61.9% to 34K, reflecting the rising interest in our services.
Key Technical Update Highlights
App has added a new feature that supports verifying the match between the document selected by the user and the document scanned. This functionality aims to reduce errors and enhance the accuracy of document verification processes.Dashboard now features a new “Program name” field. The filtering and search options have been enhanced to support filtering by Program name. This enhancement allows the projects to conveniently have a general overview of which users completed KYC under which programs. In addition, due to the shift from one account corresponding to one program to supporting multiple programs under one account, we’ve transitioned from using the account address as the primary reference to utilizing the program address as the focal point.Widget SDK now supports the inclusion of Program Number as a parameter when project owners invoke it. The SDK can recognize the Program Number provided by the project owner and execute the designated KYC program scheme accordingly for subsequent operations. In addition, the widget supports zkKYC on Ronin Mainnet for On-chain Mint Version.Our newly hosted blog now features a direct link to zkMe Official Website, where users and customers can stay updated with the latest insights and developments of zkMe! Furthermore, we have refreshed the articles featured in the ‘zkMe News’ section on our homepage. This update ensures that visitors receive the most recent and relevant information regarding our projects and innovations.
INTEGRATION ANNOUNCEMENTS
In May, we released four announcements of zkMe integrating with four major chains: Aptos, BNB Smart Chain, Arbitrum One, and Ronin, expanding our ecosystem to cater to more users on different blockchain networks.
Aptos is an independent upgradeable Layer-1 blockchain platform focused on safety and scalability, boasting a dynamic ecosystem of more than 200 launched projects. Since its Mainnet launch, Aptos has seen over 300 million transactions, over 7 million addresses created, and a real-world time-to-finality (TTF) of under one second. With this partnership, zkMe’s identity oracle will be integrated into the Aptos ecosystem and will be automatically available to all developers and creators building on Aptos.
BNB Smart Chain (BSC) is renowned for its high throughput and low transaction costs, providing an ideal environment for deploying decentralized applications. By integrating zkMe’s solutions with BSC, we leverage these benefits to offer a more seamless and cost-effective identity verification process. This approach not only enhances privacy but also simplifies compliance, making decentralized identities more accessible and practical in BNB Chain.
Arbitrum One is a Layer 2 optimistic rollup chain that implements the Arbitrum Rollup protocol and settles to Ethereum’s Layer 1 chain. It lets you build high-performance Ethereum dApps with low transaction costs and Ethereum-grade security guarantees, introducing no additional trust assumptions. With this integration, Arbitrum One’s vast Arbinauts base will soon be able to leverage zkMe’s identity oracles to seamlessly incorporate privacy-preserving identity solutions into their decentralized applications (dApps) and services.
Ronin, an Ethereum Virtual Machine-compatible blockchain, has been specifically designed to cater to the gaming industry. Developed by Sky Mavis, the brains behind the popular blockchain game Axie Infinity, Ronin stands out for its dedication to meeting the unique demands of Web3 gaming. Its ability to facilitate ultra-fast transactions at minimal costs makes it an ideal platform for games requiring frequent microtransactions. Through our collaboration, zkMe’s identity oracle will be effortlessly incorporated into the Ronin ecosystem, immediately available to developers and creators within Ronin.
PARTNERSHIP ANNOUNCEMENTS
We are delighted to onboard four new clients to our zkMe ecosystem this month: Impossible Finance, Hinkal, Xion, and DOP. They have placed their trust in our zkp technology, which can assist them in achieving on-chain compliance with a privacy-preserved approach. Together, we uphold the standards of KYC and AML, contributing to the creation of a better Web3 world.
Impossible Finance is a leading decentralized finance (DeFi) platform pioneering accessible financial services globally. Impossible Finance is set to integrate key solutions from zkMe, including MeID, zkKYC, and AML Screening, to enhance platform integrity, regulatory compliance, user trust, and security. These measures support sustainable growth and long-term viability.
Hinkal is a cutting-edge, institutional-grade zk-protocol that revolutionizes blockchain privacy by re-anonymizing transactions. Operational across seven major EVM-compatible chains, Hinkal integrates with eight decentralized applications (dApps). It offers users unparalleled privacy features, allowing them to shield any token by depositing it into their own or another user’s shielded address This collaboration integrates ZkMe’s identity solutions with Hinkal’s zk-protocol, adding zkKYC and AML screenings to prevent unauthorized access and ensure secure, confidential transactions.
Xion Global is a trailblazer in the Web3 payment space, offering businesses a secure, transparent, and decentralized payment experience. As a leading payment gateway on the Polygon network, Xion Global leverages blockchain technology to empower its clients, providing a robust infrastructure for secure and private Web3 payments at over 600k+ merchants throughout South Africa and abroad. As the first decentralized issuer to launch on Polygon ID, zkMe’s zkKYC feature offers comprehensive KYC and AML solutions while preserving user privacy.
DOP (Data Ownership Protocol) is restoring control to users over their own data in the Web3 economy, which protocol enables selective transparency of user data, empowering people to own and control their financial information. Through this partnership, DOP is adopting zkMe's cutting-edge zkPoC (Zero-Knowledge Proof of Citizenship) and AML solution. This pioneering technology enables DOP to verify user credentials without exposing any personal data.
Other things you might have missed
- Published <Navigating Regulatory Challenges in DeFi: How zkMe Can Help>
- zkMe joins FinTech Association of HK
- Alex Scheer, Founder and CEO of zkMe joins 'DOP Expert Panel' Twitter Space
- zkMe EDU article - The U.S. Treasury's 2024 Strategy for Combating Illicit Financing
- zkMe was featured by TechCrunch: Global crypto firms turn to Hong Kong for refuge — and opportunity
Join our Discord and connect with our social channels to stay updated on our latest news and announcements!
About zkMe
zkMe builds zk Identity Oracles 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’s 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.For more information, follow the links below:
Website | Twitter | Discord | Docs |