cheqd and Dock, two decentralized identity platforms (DID), have announced a strategic partnership to accelerate the adoption of DID solutions, as reported to Finbold on Wednesday, September 18.
The integration creates a network of more than 100,000 users and hundreds of active partners.
Dock and cheqd decentralized ID solutions
Dock is known for supporting identity solution providers with know-your-customer (KYC) processes, background checks and biometrics by helping them create verifiable digital credentials.
The platform improves customer onboarding, accelerates transactions and increases operational efficiency.
Likewise, it offers a robust application programming interface (API), easy-to-use web applications and a secure ID wallet infrastructure used by more than 600 customers.
On the other hand, cheqd operates an enterprise-level infrastructure for building reference ecosystems and enabling customers to manage and monetize their data.
With more than 80,000 mainnet addresses and 200 partners, cheqd is tackling some of the key barriers to digital privacy, compliance and scalability across a number of industries.
What the collaboration between Dock and cheqd delivers
By combining cheqd’s payments infrastructure with Dock’s flexible software-as-a-service (SaaS) platform, the partnership is poised to deliver scalable solutions for industries ranging from finance to government services.
This partnership will see Dock’s mainnet and testnet traffic migrate to the cheqd network, converting the DOCK token to CHEQ.
However, both platforms continue to operate independently.
Fraser Edwards, CEO and co-founder of cheqd, emphasized the importance of the partnership, stating that it creates the most comprehensive stack for decentralized ID:
“The partnership between Dock and Cheqd creates the most complete decentralized ID (DID) software stack, which includes code-less management and privacy-protecting payments for verifiable credentials. This alliance is a clear signal that cheqd is the home for DID, with Dock and their customers joining our ecosystem of partners and customers, as well as the merger of two communities that firmly believe in DID’s vision.”
The growth of the decentralized ID market
The DID market is expected to grow significantly over the next five years, with an expected CAGR of over 90%, driven by increasing regulatory requirements such as eIDAS regulations in Europe.
The joint cheqd and Dock network will provide extensive support for DIDs, with multi-SDK integration and open source tools.
To ensure their solutions meet the needs of both governments and enterprises, both companies will remain committed to regulatory compliance, including the EU Digital Identity Framework and eIDAS 2.0.
With the support of a strong leadership team, including cheqd’s Fraser Edwards and Ankur Banerjee, alongside Dock’s Nick Lambert and Elina Cadouri, the alliance is poised to drive mainstream adoption of decentralized identity.
Other upcoming innovations announced by the two partners, such as cheqd’s MiCA-compatible stablecoin and Dock’s mobile driver’s license and cloud wallet, will also further enhance the ecosystem.