"You can't have a decentralized web without decentralized identity that works at scale." - Jamie Burke, CEO of Outlier Ventures and cheqd backer.

At cheqd, we are developing an incentivized dedicated network that empowers individuals and organizations to have full control over their personal data. We are also building the necessary infrastructure to enable decentralized identity to operate effectively on a large scale.

To achieve this, cheqd is constructing payment rails and customizable commercial models for authentic, trusted data, and self-sovereign identity. Traditional digital identity services online are often slow, unfriendly to users, and costly for businesses to process. Identity verification can range from $10 for individuals to hundreds of dollars for corporate entities. On an individual level, managing over 190 passwords is challenging and susceptible to hacking.

In recent years, various startups, established ID companies, governments, and non-profits have utilized decentralized identity to give individuals more control over their data and enhance its security and transparency. However, a commercial incentives layer for the self-sovereign identity ecosystem is currently lacking.

To address this issue, we are leveraging blockchain technology to create a decentralized network for digital identity payments. Our network facilitates payment transactions between organizations and individuals for issuing, holding, and receiving authentic data on a global scale. Additionally, it allows for the customization of commercial models for various ecosystems, including financial services, airlines, pharmaceuticals, and emerging sectors like DeFi, NFTs, and Crypto.

cheqd aims to become the leading network for self-sovereign and self-managed identity, providing rewards to all parties involved (issuers, holders, and receivers) in the ecosystem, regardless of whether they are institutional or individual participants. We envision cheqd as the token for the future of decentralized identity and privacy.