Last week, the zkMe team had the privilege of participating in Consensus 2024, hosted by ConinDesk, the largest and most influential gathering in the crypto space. Consensus is renowned for the quality of its attendees, and this afforded zkMe an ideal opportunity to showcase zkMe's Zero Knowledge (ZK) Identity Layer to future partners and how it solves many of the regulatory challenges in the current markets.

What is Consensus 2024?

Consensus 2024 hosted by Coindesk is one of the biggest events in crypto bringing together a diverse array of participants, including developers, investors, founders, brands, and policymakers, for hard-hitting conversations with visionary speakers and hands-on workshops aimed at solving industry challenges. It is worth noting that this Consensus 2024 had 15,000 attendees from over 100 countries as well as over 6,800 companies attending the conference. The event truly lived up to its name, serving as the primary forum where the industry comes together to discuss the most pivotal matters, highlight significant successes, and debate critical conversations. This year's Consensus was a testament to the industry's collaborative spirit and dedication to laying the foundation for a more decentralized future.

Key Takeaways from Consensus 2024

This tremendous conference provided zkMe with the perfect opportunity to showcase our cutting-edge zero-knowledge proofs (ZKP) infrastructure, by connecting with current and potential partners, in addition to grow our visibility within the Web3 community.The zkMe team attended a number of events on Consensus 2024 which included Sui Connect, Polygon Crypto Policy Bootcamp, Snapshot Consensus, and more. At these events, our team members and CEO-Alex Scheer had the opportunity to meet many like-minded individuals who were very supportive of our zkMe project. They resonated deeply with our vision and mission, recognizing self-sovereign identity as a future trend.The discussions on compliance at the conference also struck a chord with many attendees, and several expressed interest in becoming our partners to jointly protect user privacy and uphold compliance standards.We were delighted to participate in a variety of events organized by project teams to learn more about their current developments. While we have made significant progress on chain expansion, we will continue to integrate with more in the coming months to provide better services to our users.

The topic of Real World Asset (RWA) tokenization was also widely discussed at Consensus 2024. This aligns well with our product, and we foresee potential collaborations in this area in the future. By partnering with other companies, we aim to better promote the application of RWA and provide more compliant and secure services to our users.

We also participated in several insightful sessions on cryptocurrency regulation and innovation at the Main Event of Consensus 2024. In "Fighting Illicit Crypto and Promoting Responsible Innovation," a top U.S. official discussed efforts to curb illicit activities while promoting technological innovation. Another session, "Regulating Software Development - What to Expect in the Coming Three Years," highlighted regulatory scrutiny on crypto software and the need for proactive risk mitigation. The session "Passport to Europe: Understanding the EU’s MiCA Framework" provided a comprehensive overview of the European Union's new regulatory framework for digital assets. MiCA offers businesses legal clarity and a license valid across 27 EU countries but also poses compliance challenges and severe penalties for non-compliance. In a previous zkMe Blog, we also discussed the impact of MiCA on the regulation of the cryptocurrency industry and how to use zkMe zkKYC to meet compliance requirements.

Looking Ahead

The energy and innovation at Consensus 2024 have truly inspired us. Engaging with industry leaders and receiving direct feedback from the community has been invaluable. We are dedicated to integrating these insights into our development process to enhance our solutions. Our goal is to push the boundaries of what’s possible in decentralized identity verification and contribute to a more secure and private digital landscape." — Alex Scheer, CEO of zkMe

We are excited to incorporate the web3 industry trend learned from Consensus 2024 into our upcoming initiatives and look forward to contributing to a more decentralized and private future.

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:
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