zCloak Network March Newsletter

Mar. 2023 Volume 2 Issue 2

Welcome to zCloak Network’s March Monthly Update. During the past month, the zCloak team has achieved a great breakthrough regarding our new platform — — Valid ID, which has just launched to the public. This month’s newsletter covers the updates of our core achievements on the Valid ID platform and other events worth mentioning. Let’s have a quick look at what we built in March. 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

Valid ID Platform Launching

zCloak officially launched the Valid ID platform, a decentralized solution for entity identity management in the Web3 World. You can think of it as PGP, Web of Trust and PKI combined and reborn in Web3. By linking real-world information such as websites, Twitter accounts, and official emails to W3C Decentralized Identifiers (DIDs), Valid ID enables the attestation of entity identity. Its unique feature — multi-party attestation — gives a decentralized way to prove identity by multiple parties. Click on this link to find more about the Valid ID platform.

We are about to publish a thorough light paper about the Valid ID platform, including its design methodology, features, functions and potential application. Please stay tuned.

Event

Officially Settle Down in HK Entrepreneurship Center

zCloak Network was accepted to join the Hong Kong Cyberport Incubation Programme in February 2023, and on Mar. 20, it has become one of the newest members of the Cyberport community by moving into the Cyberport Entrepreneurship Centre. zCloak will better develop our technology and business, expanding our global reach. We expect to work closely with the HKMA (Hong Kong Monetary Authority) and all major financial institutions to jointly promote technological innovation and digital transformation in the financial industry.

AMAs

Hashkey DID — — Web3 in HK & Cross-chain DID

Mar 2, Map Protocol organized an AMA with the topic of “Web3 in Hong Kong and the Future of Cross-chain DID”, the representatives of Hashkey, zCloak, and Dotbit presented as speakers.

Annabella, the CMO of zCloak Network shared some ideas about the current DID market, its future development, and the crypto industry in HK. Lots of projects burst into the market, which is good for building the web3 world, but there are still problems with user data privacy. What zCloak promotes for the future development of DID project is that we need to carefully combine the web2 world with the web3 world rather than just relying on on-chain info to protect users’ data privacy sovereignty. Besides, Annabella also mentioned that the HK government’s opening up to the crypto industry is definitely beneficial to both the blockchain companies and HK’s digital economy. And zCloak hopes to apply our technology to decentralized applications and decentralized finance to improve the development of Web3 in Hong Kong and provide more diversified financial services to the world with Hong Kong as the starting point.

Link for you to revisit: https://twitter.com/i/spaces/1kvJpmnvjZZxE

DATT &zCloak Network Founder

On Mar 22, the fifth event of the Digital Asset Think Tank (DATT) Lecture Series was successfully held online. w3tester, founder of zCloak Network, was invited to introduce some knowledge of zero-knowledge proof VM and private digital identity.

Firstly, w3tester introduced the concept of zero-knowledge proof, clarified the technical aspects of ZKP, explained the simplicity and zero-knowledge characteristics of ZKP, and introduced some traditional ZKP application scenarios. Then he shared some ideas about the W3C DID and Web3, and elicited the DID used in the blockchain field through the W3C DID, pointing out that the biggest problem with blockchain-based identity systems is the privacy issue. It’s worth mentioning that, the zCloak algorithm cleverly addresses the two necessary conditions of trustworthy data and the honest computational process required in the user’s local zero-knowledge proof computation.

Valid ID Pre-heating Community Call

On March 24, zCloak team held the 2nd community call with the topic of “Valid ID Pre-heating”. zCloak’s business growth manager Jacky and CMO Annabella presented. We had a wonderful time with around 500 community members, and we really appreciate all the support.

During the call, Jacky detailedly introduced Valid ID platform to the audiences, such as what it is, what benefits we can get once onboarding the platform, what unique features it has compared with other identity-verified projects, etc. At the same time, Annabella shared some use cases with us, like the anti-fraud announcement and news release, issuing Verifiable Credentials, and project smart contract address anchoring. Finally, Annabella demonstrated the Valid Sign function to help audiences know the exact process of how it works and what users can achieve with it.