May 8, 2018
globaliD’s platform enables secure, portable and reliable identity verification through permission based processes which leverage the benefit of blockchain technology. This complements COTI’s network for decentralized and scalable payments and its cutting edge DAG (directed acyclic graphs) structures and base protocol, known as the Trustchain™, which can process 10,000 transactions per second.
As COTI continues to expand its user base, the collaboration with globaliD is a further positive step to ensure frictionless, fast and secure identity verification. COTI will integrate with globaliD’s decentralized platform, enabling COTI to seamlessly integrate users and manage permission and compliance for users’ levels of access, with personal information securely stored and encrypted.
Greg Kidd, CEO of globaliD, said:
“We’re pleased to announce this partnership, which allows COTI to further maximize the user experience through working together with globaliD. As COTI continues to be a pioneer in bridging the gap between the best of traditional payment with the best of cryptocurrency and blockchain technologies, this is a further positive step to providing a seamless, reliable way to manage identity verification in a fast-growing space.”
Shahaf Bar-Geffen, CEO of COTI, commented:
“Our partnership with globaliD will allow for greater functionality across COTI’s payment service. By providing a decentralized and trusted identity, which overcomes boundaries of location, globaliD will bolster the secure KYC/AML processes that COTI has put in place. As we continue to push the frontiers in fintech, we will work closely with globaliD to offer the best solutions in identity verification.”
About COTI: COTI is a transaction network that was built from the ground-up to solve the technological challenges of today, in particular within the payments industry. COTI, Currency of the Internet, solves the real world problem of high processing fees and low approval rates by cutting out the middlemen involved in payment transactions. With low-to-zero fees, full buyer-seller protections, its Trust Scoring Engine and decentralised Mediation System, COTI combines the best of traditional payment methods with the best of digital currencies.
About globaliD: globaliD, a venture-funded San Francisco-based identity provider, offers a portable, safe, and private way for people to create a digital identity and gain permissions to act through its ecosystem. globaliD is venture backed by Arbor Ventures, CampOne Ventures, 500 Startups, Altair, and China Rock Capital.
We are excited to announce that our community pre-sale will begin May 21st and continue for three consecutive days. The full details will be out this coming Thursday in our newsletter and in the COTI Telegram group. Be sure to spread the word to your circles. More updates coming soon, so stay tuned!