Looking back on two years in Algorand and the future of Vendible
Two years ago, we received a grant from the Algorand Foundation to work on a project focused on digital identity. Now, we want to share our progress and plans for the future. Our project has three main parts: identity, privacy, and payments.
We finished the first part in 2022 with the release of the Vendible wallet, a digital wallet that links your identity with your assets. To make money and help solve problems in the world of online transactions, we created Trustible.
Trustible needed to have strong privacy features, so we worked hard to make sure that neither we nor the companies we work with could access your information. We used advanced technology to protect your data and create a unique identity system, something never done before on a fully transparent network.
While developing Trustible, we also launched Ible City, a NFT collection designed to engage our users and build a community around our work. Ible City is essential for our plans and will play a big role in Trustible.
Having a community of users interacting with our app and each other helps us market our services to other developers. More importantly, it will help us achieve our goals when we start the third part of our project, payments. Although our path changed over time, our end goal remains the same. We are building towards widespread adoption of public blockchain technology by corporations. Below is a brief outline of where we are headed:
We’ve completed the core technology for the following areas and are currently implementing:
- Trustible phase II — account protection
- Integration of Ible City into Trustible Phase I
- PolygonID integration into Trustible
- Phase III — Recovery
- Phase IV — identity vault optimization
- Trustible launch
- Integration of Ible City into Trustible Phase II
- Wallet integrations for key recovery, asset loss protection, and onboarding without having to save passphrases
- Authentication integrations that leverage uID to provide trust in applications — while not inclusive, these integrations help:
- Ensure applications prevent bots from joining.
- Ensure each user can only have one account.
- Block bad actors from applications and enforce that cross-chain or through any traditional application.
- Perform zero-knowledge checks to filter potential applicants so developers can build applications targeted to specific user groups by age, location, etc.
- Perform anonymous KYC/AML.
- Perform selective disclosure for compliance.
- Promotion of applications building with Vendible in Trustible
- Member-to-member messaging (M2MM)
- Member-to-member payments
- Multi-layer authentication
For the third part of our project, payments, we plan to offer many services, such as:
- Credit ledger
- Asset theft protection
- Private/Protected payments
- Private/Compliant payments
- Instant credit ledger exchange
- uID for business
- Business payment services
- Workgroup authentication systems
- DAO management
- Polling/Voting
- uID for machines, AI, and IoT devices
- Data management for application developers
- Distributed data storage
- Distributed blockchain nodes
- Anonymous reputation systems
- Enterprise integrations
As you can see, we’re not just building a single app but infrastructure for a secure internet. We’re excited about the progress we’ve made and look forward to offering solutions to longstanding problems. In the coming weeks, we’ll share more details about our plans so you can better understand our network and your role in it.
