- NexeraID empowers companies to seamlessly onboard users to Web3 using self-custodial or custodial wallets.
- W3C enables companies and the public to come together and develop innovative web technologies.
AllianceBlock, a network building seamless gateways between TradeFi and DeFi, has announced that it joined forces with World Wide Web Consortium (W3C) through its identity issuance and verification solution, NexeraID. Already, W3C takes pride in more than 450 memberships including Ethereum Foundation, Coinbase Global, Apple Inc., and Microsoft, among others. As a result, AllianceBlock through its NexeraID will reach more DeFi users through the W3C collaboration.
Moreover, the three entities can work on the development of interoperable web standards through sovereign identities. According to AllianceBlock Founder and CEO Rachid Ajaja, the collaboration is strategic to the implementation of its core mission.
“We are extremely excited to be working with fellow W3C member organizations in the development of interoperable web standards, bringing expertise to help shape the principles of sovereign identity, which can only be done by collaborating with other industry leaders in these fields,” Ajaja noted.
NexeraID and W3C for Web3 Development
Notably, NexeraID empowers companies to seamlessly onboard users to Web3 using self-custodial or custodial wallets. Additionally, NexeraID streamlines complex compliance workflows while safeguarding users’ identities and assets. Moreover, NexeraID is compliant with W3C’s established standards for decentralized identifiers (DIDs) and verifiable credentials (VCs).
On the other hand, W3C enables companies and the public to come together and develop innovative web technologies. W3C is best known for web technologies like HTML and CSS.
According to the announcement, NexeraID intends to proactively collaborate with industry leaders to foster the standardization of Decentralized Identifiers (DID) and Verifiable Credentials (VC) on the W3C.
On its part, AllianceBlock and NexeraID will benefit from access to a vast network of leading industry players and provide their technical expertise to W3C while collaborating on improving and developing new standards for the digital identity space.
Furthermore, decentralized Identifiers became an official Web standard last year following the increased global regulatory push on KYC. Mind you, the decentralized identifiers give users and organizations greater security and privacy by allowing them to establish and manage their digital identities across technological boundaries.
In order to enhance user security, NexeraID employs a programmable smart wallet – that is built on the open-source AllianceBlock NexeraID Protocol – to store the client’s digital assets.
Notably, enterprise customers can easily expand into Web3 with NexeraID solutions since the self-sovereign identities (SSI) can be integrated into businesses’ infrastructures, enabling them to onboard users and validate their compliance with regulatory rules.
On the other hand, consumers can create safe and secure smart wallet accounts with NexeraID using their email or social media information, similar to current Web2 practices. Wallets can be managed using biometrics, Apple ID accounts, and Google Accounts. In addition, NexeraID users can further secure their smart wallets with spending limits and recovery rules, which is a crucial development in the Web3 industry.
