Spruce Partners with Centre on Launching Verite

SpruceID -

Blockchain users already have a robust account system based on their keys. Why do they need another one controlled by someone else to manage their data?

We’re excited to announce our collaboration with Centre to launch Verite. Verite is an identity protocol that allows individuals and institutions to verify their identities and claims for easier usage. This will combine the best of decentralized identity and data interoperability standards to allow the entire blockchain industry to share data in ways that are authentic, secure, and private.

By having a shared open framework for trusted data, we can unlock use cases including but not limited to:

  • Undercollateralized lending in DeFi, using off-chain data to reduce risk.
  • Standard methods for publishing information-redacted data to smart contracts (“privacy-preserving oracles”).
  • Means to achieve permissioned DeFi and satisfy compliance requirements without compromising user privacy or data autonomy.

With Spruce, users get closer to being able to control their digital selves the same way they control their physical selves. Specifically,

  • DIDKit allows platform-agnostic interoperability for W3C Verifiable Credentials, W3C Decentralized Identifiers, and broad support for blockchain accounts across Ethereum, Bitcoin, Solana, and more.
  • Kepler allows users to specify exactly where their private data can be hosted and who has access, ensuring full privacy and control directly from their Web3 wallets.

Spruce lets users control their data across the web. We are moving to a new model where users no longer need to trust internet giants with their digital identities, and can instead choose decentralized login methods such as Sign-In with Ethereum to use accounts that they truly control, then enrich their sessions by selectively revealing information from their personal data vaults.

Centre has a proven track record of driving large-scale innovation in the blockchain industry, including USDC (now over $52B in circulation) which has acted as an ecosystem pillar in enabling DeFi, NFT, and DAO activity. Centre is now applying its extensive expertise and network across the blockchain ecosystem to coordinate standard ways that data are used to achieve compliance, risk mitigation, and entirely new use cases.

Spruce lets users control their data across the web. If you're curious about integrating Spruce's technology into your project, come chat with us in our Discord: