Cardano (ADA) Announces New Initiative Amid Decline

The Cardano Foundation has launched Veridian, an open-source digital identity platform designed to deliver quantum-resistant and globally interoperable identity solutions for individuals and organizations.

According to the announcement, Veridian leverages key event receipt infrastructure (KERI), decentralized identifiers (DIDs), and authentic on-chain data bearer (ACDC) credentials to verify identities and authenticate online communications.

Alongside the platform, the Cardano Foundation introduced the Veridian Wallet, which allows users to securely manage their credentials, private keys, and identifiers.

“We believe that your identity should be yours, secure, authentic, and under your control,” said Thomas A. Mayfield, head of decentralized trust and identity solutions at the Cardano Foundation. “With Veridian, it is now possible to build quantum-resistant, globally interoperable, enterprise-grade solutions for individuals and organizations.”

Veridian is entering the fray alongside other blockchain-based identity projects such as Worldcoin and Humanity Protocol, both of which use biometric data for identity verification.

*This is not investment advice.