Use Cases
Every part of ZERO’s stack has a potential use case that stands out among a multitude of identity solutions. From solvency proof to capitalising on data broking, ZERO can help build infrastructures and enable inventions of new industry verticals that our team don’t currently see in view.
We’ve listed some examples of use cases, including practical examples/implementations for a few of them:
Privacy-Preserving KYC/AML: During onboarding, we carry the users through the ZKYC process. ZKYC from the get go gives owners of OMIDs access to privately prove their KYC information (age range, country of origin, etc). Other means of verification could come from VCs by issuers to further enhance user experience.
Lending & Borrowing: Through both VCs and DCs (dynamic credentials), lending platforms can be able to find the overall financial ability of a user (solvency). VCs that aggregate onchain credit scores across wallets can give an overall impression of a user’s solvency on chain. With ZERO lending is not limited to onchain abilities alone and connects overall financial abilities.
Data Marketplaces: Imagine if you could broker (trade) in your credential data for money. Avoid the data brokers in between and sell what you want to share. This is what a data marketplace powered by ZERO will be like. The open web requires standard measures for users to leverage on their credentials without compromising them, and ZERO with the power of the new web (web3) wants to lead that. The ZKP Marketplace SDK can enable ZKPs to be leveraged as commodities on data trading platforms (open data marketplaces) with you setting the rules. Your data is one of your most important assets and should be treated as such.
Medical Health Records: Medical records can feel invasive most times and yet are important for one’s well being. From medical history to conditions, people often try to hide these data from their medical health professional for privacy concerns (which for the most part is more social than logical). ZERO could give Medical services an insight to a patient's health data by just revealing what is most important for each case (e.g blood pressure/sugar range, number of previous cases of a condition) all without compromising any other medical data.
Decentralised Job Markets: Job seekers usually face challenges in effectively showcasing their skills and qualifications to potential employers. And job search platforms often lack trust and can be susceptible to fraud. Platforms such as LinkedIn allow for users to include experience in companies and skills without adequate proof, resumes are not at all provable either, as they’re usually hand-written by these job seekers and can be made misleading to unsuspecting employers. Using ZERO can provide a pseudo-trustless environment, where users can verify skills, education and experience through multiple VCs without the fear of compromise.
Fair Incentive Distributions: With talks about how to ensure equitable incentives on the new web (through fairdrops, rewarded activities) such as this, we can identify that there’s a growing need for a verifiable identity/credential system such as ZERO. Farmers have capitalised on the fact that Web3 platforms don’t rely on any form of KYC or proof of uniqueness systems to accrue incentives on multiple accounts. OMIDs provide a zk_kyc (ZKYC) platform and are unique, connecting several user accounts/wallets to one core ID that is provable and verifiable.
Asset Tokenisation: Asset tokenisation, the process of representing physical assets as digital tokens on the blockchain, has gained significant traction in recent years. ZERO can play a crucial role in enhancing the security, transparency, and efficiency of proving asset tokenization. RWA platforms/protocols may need to incorporate basic levels of compliance that are necessary for AML laws (as well as other jurisdiction based laws guiding Estate ownership), and ZERO is positioning itself to provide compliant ID verification that gives users the power to reveal only the necessary information that Regulators need.
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