Jul. 2023 Volume 2 Issue 6
Welcome to zCloak Network’s Monthly Update for July. Last month, the zCloak team kept our regular pace to actively interact with other projects and participate in events. What’s more, we also made great headway on product building. Let’s briefly go through all of them. FYI, this series of monthly newsletters are dedicated to keeping our community members up to date, so please follow us and stay tuned for more information!
Product and Technology
zkID Card Center
The zCloak Network team has put a lot effort working on building the zkID Card Center — the next major product from zCloak. The basic idea is to provide a card infrastructure like Apple wallet for both iPhone and Android mobile phones but without the limitations of Apple. At the browser side, card issuers will be able to issue ID, passport, medical, education, banking certificate as Cards to their users with minimal effort. At the user side, people will be able to receive and hold their data card in their PWA wallet without downloading and installing any app. The zCloak Card aims to abstract away technology terms such as DID and verifiable credentials and only keep simple concepts for the users to understand. We believe the zCloak Card will become an essential tool for user-controlled data management.
In July, the card maker, card shop, user profile parts have been finished. With some integration and testing work, the Card Center PoC will be released in August.
zk-SBT for Conditional ERC-20
We have been promised programmable money since the early days of blockchain and Web3. But we haven’t seen much happening regarding intent and purpose-based payment. That will end with the conditional transfer ERC-20 protocol by zCloak Network. The token issuer will be able to specify detailed policies on the use of ERC-20 tokens, such as the identity attributes one needs to have in order to transfer or receive an ERC-20 token.
The use case for conditional ERC-20 tokens include RWA tokens for qualified investors, CBDC for people of specific nationalities, or donation fund for people with low income, etc. The PoC has been built in July and we expect to release it soon in Arbitrum.
DAO Ecology in the Post-Zuzalu Era
On July 2, zCloak Network, SeeDAO, and DeepDAO co-hosted a DAO salon with the topic of “DAO Ecology in the Post-Zuzalu Era” in Shanghai. About 100 community members took part in the salon.
During the salon, several presentations on different topics were presented. Annabella, the CMO of zCloak Network, shared thoughts about zCloak’s RWl solution and DAO-related tools. Three parts are involved, which are the RWI and self-sovereignty identity infrastructure zkID, Web3 trust issue solution — Valid ID, and DAO tooling usage scenarios. After the presentations, a panel discussion based on the theme was also successfully held.
2023 CSWA SURFING SUMMER
From July 28 to 30, with the sponsorship of zCloak Network, CSWA (Chinese Student Web3 Association) successfully held the first summer event in Yantai, Shandong province. The event aims to reach more overseas student communities and serves as an entry point of Web3 introduction and education to more students.
During the event, w3tester, the founder of zCloak Network, shared his experiences on Zero-Knowledge Proof and Privacy-Preserving Identity. Besides, a panel based on the topic of “How young people can capitalize on the new tech/internet era?” was also held. w3tester mentioned, with the privilege of being young, students should seize any possible chance to take part in projects that they are interested in, which not only can accumulate related experience but will also meet more potential opportunities.
3rd Round of World’s First Web3 Anti-Fraud/Phishing Movement
Poster for the 3rd round anti-fraud/phishing eventOn July 20, zCloak Network launched the 3rd round of “World’s First Web3 Anti-Fraud/Phishing Movement”, which will last till Aug 10. There are 5 more projects participating in this round. Till now, over 16,000 users successfully minted our NFT issued on Galxe. Besides, the winners of the 1st and 2nd rounds lucky draw will be published on zCloak’s official Twitter account shortly. Please stay tuned and pay attention to the tweet with the Valid Sign short link.
The movement receives widespread attention from the industry. More and more users are aware of the importance of verifying the validity of existing messages.
Here’s a Link to the 3rd round of our Anti-Fraud/Phishing Movement.
Relation Discord Party #46
On Jul 1, zCloak took part in Relation’s #46 discord community party to introduce our project. During the party, Cassiel, the PR specialist of zCloak briefly introduced the initial vision of zCloak project and shared some ideas about users’ data control. She mentioned that when we get into the big data era, corporations see our personal data as their key assets and they are not willing to give up control over it, and they rule a kingdom with a far larger population than any other country in the world ever. And zCloak, as a Web3 project, wants to revolute the current data computation and storage paradigm and change the traditional Web2’s cloud computation and storage into computation and storage based on local device, so as to realize the Web3 dream of reclaiming your own identity and data control.
Will the On-chain Credit System be a Hit in DeFi？
On July 5, zCloak Network organized an AMA with the topic of “Will On-Chain Credit System be a Hit in DeFi?”, representatives from zCloak Network and RociFi presented as speakers.
During the panel, Chris, the co-founder of RociFi illustrated the necessity of a native on-chain credit system, which mainly lies in that some users may not get satisfied with local financial credit in the real world due to the absence of an offline reputation system, this makes the original native credit scores more fair to everyone. Besides, he also mentioned the scoring system can make non-liquidation loans and fixed APR loans possible.
w3tester, the founder of zCloak Network mentioned that RociFi actually will play the role of an attester in the zCloak credit ecosystem to benefit both communities.
About zCloak Network
zCloak Network is a real-world identity (RWI) infrastructure for Web3, featuring privacy-first DID powered by zero knowledge proof. It aims to provide user data sovereignty by moving both the storage and the computation of data into user device from centralized servers.
zCloak Network also provides an entity identity infrastructure called Valid ID (valid3.id). It anchors the real-world identity of an organization to its DID — effectively a CA and PKI for Web3.