New Medium article by Phil Kelly from O(1) Labs

The recent FTX situation has thrown a whole range of discussion points on the table in so far as decentralisation, safe CEXes (see the twitter space here) and the problem of trust in crypto generally. Phil Kelly, COO of O(1) Labs has written an excellent Medium article entitiled ‘Composable Identity with ZK: Avoiding Web3 data monopolies, and marketing and phishing empires‘.

The article gives an insight into the power of ZK (zero knowledge) to leverage many different kinds of use cases in Web3 and specifically by utlilising snarkyJS the typescript library that forms the basis of zkApps (dapps built on Mina Protocol).

New use cases under development include:

• Pseudonymous KYC, to help DeFi protocols with needs related to the regulatory environment.
• Proof of credit score / credit score range, to help open up DeFi undercollateralized lending.
• Proof of unique liveness, to prevent sybil attacks and overclaiming of economic benefits.
• Proof of token ownership / experience (e.g., I voted in five DAOs, or I achieved a return of over x% on my crypto portfolio) to support privileged interactions with DAOs, games, NFT drops, DeFI protocols, or for gated, anonymous access to a shared communication group.

Phil Kelly – O(1)Labs

Click HERE to read Phil’s article and click HERE to subscribe to O(1) Labs’s medium feed.