Lido Co-Founder Announces Plan to Launch Blockchain Identity Platform Y, to Compete with World Network

BlockBeats News, November 18th, according to CoinDesk's report, a group of cryptocurrency veterans, including the co-founder of decentralized finance giant Lido, are preparing to launch "Y," which is a blockchain identity platform aimed at competing with the World Network.

An individual close to Cyber Fund (a venture capital firm led by Lido's co-founders Konstantin Lomashuk and Vasiliy Shapovalov) stated that Y will not use biometric data but will instead look at the traces people leave behind when using the internet to verify their human status. According to Y's whitepaper, this approach can address privacy risks and minimize fraudulent activities — a stark contrast to World's reliance on iris scanning.