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BLOCKPASS WORKS WhITH EASYFI TO PROVIDE SEAMLESS DIGITAL IDENTITY DATA FOR THE MONEY MARKET
Blockpass is a unique, reusable digital identity solution for organizations engaged in crypto-asset, regulated businesses, or increasingly remote business environments where trust must be digitally verified. Blockpass allows end-users to create a verified portable identity to monitor their own and instantly reuse with any service. With Blockpass, end-users can create a verified portable identity to instantly control and reuse any integrated service. Blockpass introduced the first On-Chain KYC solution to serve many blockchains in the coming years, integrating with Chainlink Network, a decentralized Oracle solution, in early January.
EasyFi announced their partnership with Blockpass to initiate comprehensive on-chain data to establish the Digital Identity Management System (IMS) for the EasyFi Universal Layer 2 DeFi credit protocol. This has, of course, been done in preparation for our plans to achieve lower collateralization rates or as part of securing loans in DeFi.
This partnership and integration mark the culmination of a very important component in the Layer 2 identity space.
Anyone who follows this area will know that some important integrations have taken place in the past few months. These all relate to the integrations between 4 different companies — Blockpass, Chainlink, Matic, and EasyFi.
THE IDENTITY QUAD ON LAYER 2 DEFI
These cross-platform integrations are of great importance for any Layer 2 solution. The partnership with Blockpass completes the so-called Identity Quad in Layer 2 networks.
THE IDENTITY QUAD
BLOCKPASS: The “Creator” and verifier of the chain’s digital identity data required for consumption. It developed its digital identity protocol to improve the chain compliance experience.
CHAINLINK: The “Feeder” feeds the digital identity data in the chain from Blockpass to Layer2 and other blockchain networks.
MATICNETWORK: The “Enabler” enables and offers quick and inexpensive access to the on-chain identity data received for use in the smart contracts provided in its network, thereby checking the on-chain -Identity becomes affordable.
EASYFINETWORK: The “Adopter” take over, consume and distribute this digital identity data to enable decentralized and compliant lending and lending of digital assets via our L2 protocol.
WEB 3.0 MANAGEMENT IN EASYFI
The EasyFi identity management system heralds your move to enable borrowers’ digital identities and ultimately provides users with under-collateralized loans.
We believe Blockpass’s EasyFi IMS with on-chain identity data management modules and Credit Rating Generation System (CRGS) will double as a strong pair and add strength to future microloans, loans with payday features covered by loans. Insufficiently secured and under-collateralized, credit default exchanges, and other financial instruments.
EasyFi works on a web 3.0 identity layer to design sophisticated algorithms and processes to identify the borrower assessment mechanisms needed to achieve the lower margin rates mentioned. EasyFi integrates a multi-chain credit rating system.
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