The Pacific island nation of Palau is furthering its partnership with decentralized id protocol RNS.ID to deploy digital residency IDs (DIDs) on the Solana blockchain.
The launch of Solana-based IDs was introduced yesterday by the official RNS.ID Twitter account. The corporate claims that “this marks the primary time a sovereign nation points authorized id on Solana.”
The nation launched its digital residency program in 2022, which grants world residents residency backed by Palau. However the individuals who purchase them do not must bodily dwell there. The nation minted its first Authorized DID, or decentralized ID, in September 2023 on Ethereum—with none aside from Ethereum co-founder Vitalik Buterin in attendance.
https://x.com/RNS_global/standing/1816316977226604925
The RNS.ID platform lets customers apply for a Palau digital residence card for $248. These residencies enable for a visa extension as much as 180 days, whereas additionally offering anonymity for individuals who wish to use cryptocurrency exchanges that they may in any other case be barred from accessing due to their location.
“It is thrilling to see Palau utilizing Solana now for his or her IDs. From the documentary we did on the ID system they’re constructing we might see that they had the fitting concepts on the proper time and have been getting some market traction. I count on that proceed now with this new initiative,” George Harrap, co-founder of Step Finance informed Decrypt.
The Palau authorities enforces a vetting course of on all candidates—together with anti-money laundering and id verification checks, which take as much as 10 days. A latest announcement claims that RNS.ID has to date issued 7,338 digital residencies to its customers since September 2023.
On-chain decentralized IDs
Decentralized id methods have lengthy been pitched as a number of the high purposes of blockchain expertise with probably the most far-reaching implications. Might experiences indicated that Microstrategy—well-known for its Bitcoin (BTC) accumulation technique—is growing a decentralized id system constructed on the world’s first blockchain.
MicroStrategy co-founder and Government Chairman Michael Saylor defined on the time that the system in query could be based mostly on Ordinals-like inscriptions. Equally, final 12 months Shiba Inu builders unveiled that they have been engaged on their very own digital id methods as nicely.
One other main participant within the area of decentralized id is Worldcoin, an organization that may additionally delight itself on the participation of OpenAI CEO Sam Altman.
In February, Worldcoin additionally introduced that it’s going to implement an answer for its World ID for use to confirm the identities of e-sport gamers.
The initiative was developed in partnership with crypto-powered e-sports match platform Neighborhood Gaming, and goals to permit match members to “show their personhood.” That might be primarily completed by scannin their irises with a tool that Worldcoin proponents name the Orb.
Edited by Stacy Elliott.
