Opacity reusable credentials, [coming soon], [coming soon], and [coming soon] services extend your [sigh, coming soon] across [omg even this one?, coming soon] networks.
Everything points to Opacity.
Just got this from Revolut. It appears to be on DriveWealth’s side, so not blaming Revolut.
But this is getting out of hand.
KYCs are creating massive honeypots of personal data.
Crazy that in the EU I have to consent to cookies every time I open a website, while financial institutions are leaking all my personal data.
We need to rethink the system.
Verify once, reuse everywhere. 🙏 @HesterPeirce@SECGov.
AJAX let web2 pull data without reloading the page: IYKYK. zkTLS lets web3 pull verified facts without reloading the identity stack. One piece of middleware unleashed web2. The other will unleash web3. Central to our thesis @finalitycap since day 1 and why we backed @EulerLagrange and @OpacityNetwork.
Amazing to see this from a speech by none other than @HesterPeirce from earlier today.
The keys to the castle for making regulated finance composable through smart contract environments is the nature of CIP (what normies call KYC) and the incentives around the core obligations.
KYC once and use everywhere is exactly what we’re building at @OpacityLabs.
Stay tuned for more.
Amazing to see this from a speech by none other than @HesterPeirce from earlier today.
The keys to the castle for making regulated finance composable through smart contract environments is the nature of CIP (what normies call KYC) and the incentives around the core obligations.
KYC once and use everywhere is exactly what we’re building at @OpacityLabs.
Stay tuned for more.
This isn't your grandma's KYC.
It's a privacy-first verified credentials system with zkTLS cryptography to build a strong identity claim based on a triangulation of multiple authenticated signatures but that doesn't really fit into a clean acronym does it?
Anyways, Opacity.
Asset managers want to reach more investors by tokenizing assets.
But how do you connect investors to tokenized securities without without bespoke integrations between every TSV, wallet, and asset?
Opacity is the missing piece.
Opacity Portable Identity uses verification through multiple sources from your own secure logins.
Cryptographic signatures prove each login, and several authoritative sources add up to a fundamentally stronger identity credential.
Opacity Portable Identity.
My thoughts on the innovation exemption after a good nights sleep.
The SEC wants to facilitate innovation in market structure using DLT. A principle the SEC has followed since its inception is not paternalistically mandating a market structure.
They prefer to let the market organically iterate on different ways of setup venues.
That’s how I read the innovation exemption. A foundation for people to design around.
There is a big broker sized hole in the exemption which is why people should tread carefully. Depending on how fees are taken and orders are routed, you may need a broker or ask for relief.
Step in the right direction, and i am very happy we’re no longer in the waiting for Clarity mode.
🚨 TODAY: The SEC issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues from the definition of “exchange” in the Exchange Act to trade tokenized NMS stock using innovative permissioned automated market makers and liquidity pools.
Capital markets run on infrastructure designed before the world ran on the internet.
Opacity is building an upgrade to that infra. Starting with portable identity, and moving it to assets using tokenization.
This is a capital markets system upgrade.
The timeline would have you think it's either KYC or privacy.
There is a third path with user control, privacy by default, opt-in identity sharing, and no copies of your digital ID stored in honeypots.
Have a nice day.
One common misconception that bugs me:
KYC doesn’t break Defi. It’s that the way KYC is done requires subjective judgment, and that breaks Defi.
Subjective judgement used to gate/revoke access is effectively a gatekeeper.