The Polygon team announced via Twitter on Thursday that the digital banking platform Cogni has debuted the “Web3 Passport,” the first and only turn-key solution that ports the traditional Web2 KYC (“know-your-customer”) into a Web3 environment via the Polygon PoS chain. At launch, Passport will be available to a select number of Cogni users, before opening to the public in the summer of 2023.
Cogni’s Passport grants individual users complete customer privacy by minting a non-transferable NFT with encrypted personal information, which is captured during Cogni’s account opening process, to a user’s wallet, the Cogni team added.
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. MATIC is up by 1 % in the last 24 hours and is currently trading at $1.0082.