.bit Rebrands to d.id: Unveiling a New chapter for the DID ecosystem

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SINGAPORE, Sept. 8, 2023 /PRNewswire/ -- Formerly known as .bit, the leading Web3 identity protocol founded by ex-Tencent colleagues, today announces its rebranding to d.id. Accompanying this transition, the team has launched a brand new website and an upgraded product matrix. The transformation signifies the brand's amplified commitment to creating a robust Decentralized Identity (DID) ecosystem. Leveraging the potential of DID, the new d.id Team aims to empower community growth and reinforce digital identity building.

Starting as .bit, the company gained recognition for providing DIDs that allow users to replace complex alphanumeric crypto wallet addresses with easily recognizable names, whilst retaining full control over their digital identity. So far, about 280,000 .bit names have been registered, and over 140 mainstream wallets and dApps have integrated with .bit.

With an evolving vision for DID, the team's journey now calls for a new chapter: enter d.id.

The new brand is rooted in addressing three pivotal themes - the relationship between communities and individuals, the essence of community governance and collaboration, and preserving individual uniqueness amidst rapid AI growth. Guided by these tenets, the team projects a refreshed perspective for DID: Envision an ecosystem where every identity starts from a distinct decentralized name, complemented by a person's "Soul-bound Tokens" which capture their myriad experiences and achievements. Together, these elements shape a person's unique digital identity within the decentralized world, echoing how our real-world names and accomplishments define us.

To bring this vision to life, the d.id team introduces "DID as a Service", offering a suite of DID-based solutions designed to facilitate community building and enhance digital identity. Through .bit, communities can seamlessly issue their own DIDs, branded with a recognizable suffix. SoulFrag stands out as the first DID-based reputation management system, ensuring every community member's contribution is acknowledged and valued. Voty, the first DID-based community governance system, promises fair and transparent governance experience. For individual users, the d.id Profile offers a tailored space to showcase their experiences and accomplishments.

The transition to d.id further emphasizes the brand's unwavering dedication to making Web3 accessible to all. The team introduced the "Barrier-free Web3" principle, a pledge to users and a call-to-action for the industry. All d.id offerings are designed to be seedless, gasless, yet remain decentralized, catering to even Web3 novices. This initiative aims to make everyone's interaction with Web3 as easy as possible.

"d.id represents more than just Web3 solutions; it signifies a paradigm shift. As our world becomes ever more interconnected, a robust and authentic digital identity is not merely a feature - it's essential, a key to active participation in our global communities," said Tim Yeoh, Founder of d.id. "We see DID as a shared resource, benefiting one and all. We are thrilled to partner with diverse communities, helping them in unlocking new possibilities with DID-based solutions."

Founded in 2021, the company has been a DID forerunner. Last August, the company closed a Series A funding round of $13 million from CMB International, HashKey Capital, QingSong Fund, GSR Ventures, GGV Capital, SNZ, SevenX Ventures and Xin Fund Management.

As d.id takes a leap into the future, the team remains focused on its commitment to exploring and nurturing the DID realm. Fueled by this rebranding, d.id will continue to innovate, seeking to positively reshape communities and individual identities across the globe.

About d.id

Established in 2021, d.id is a pioneer in decentralized identity (DID) systems. The company provides an array of DID-based solutions aimed at promoting community building and digital identity. Their product lineup includes .bit, a barrier-free DID issuance platform for communities and also a DID system for individuals; Voty, the first DID-based community governance system; SoulFrag, the first DID-based reputation management system; and d.id Profile, a DID-based profile for users to showcase milestones and accomplishments. With about 280,000 registered accounts and integration with more than 140 wallets and dApps, d.id is committed to building a trusted and inclusive DID ecosystem. Through DID, d.id endeavors to empower diverse entities in building robust communities, fostering genuine engagement and individual identity.

For more information, please visit the d.id website: https://d.id/
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Media Contact: [email protected]

SOURCE d.id