Decentralized Income Tool by Cr3dentials Secures Funding from Kaleo Ventures
Cr3dentials, a decentralized protocol designed for income and employment verification, has secured additional funding to advance its mission. The latest investment of $25,000 comes from Kaleo Ventures, following earlier investments of $20,000 from Microtraction and $40,000 from Microtraction as well.
Cr3dentials leverages zero-knowledge proofs (ZKPs) to enable individuals to prove their income or employment status without revealing sensitive data. Users submit cryptographically verified credentials issued by employers or financial institutions, and the protocol creates ZKPs about the user's income or employment attributes. These proofs can then be shared with verifiers, such as lenders or landlords, who can trust the validity of the claim without seeing the raw sensitive data.
Despite the successful fundraising, Cr3dentials has been facing a distribution problem, with co-founder Elo Mukoro attributing the gap to a lack of users for the firm's product. To address this issue, the recent capital raise is primarily geared towards completing the firm's proof of concept and revenue generation efforts.
Cr3dentials has lined up pilot programs with five different companies, including cryptocurrency exchange Onboard Global, to test usability, security, and scalability before wide deployment. The cash injection from Kaleo Ventures is intended to facilitate the process of solidifying these pilot programs and generating revenue for Cr3dentials.
As for upcoming pilot programs and the use of zero-knowledge proofs, there is no specific information available in the provided documents. Typically, decentralized identity and verification projects like Cr3dentials run pilots with financial institutions, government agencies, or blockchain consortia to gather feedback and ensure the system's effectiveness before wide-scale adoption.
For the latest information on Cr3dentials pilot programs and their use of zero-knowledge proofs, checking the official Cr3dentials website, recent press releases, or technical whitepapers published after July 2025 would be advisable.
- Celebrating the $25,000 investment from Kaleo Ventures, Cr3dentials plans to invest in artificial intelligence technology to enhance its blockchain-based income and employment verification protocol.
- With the aim of increasing its user base, Cr3dentials is exploring potential integration with Africa's financial sector, recognizing the continent's growing interest in cryptocurrency and decentralized finance.
- As Cr3dentials moves towards revenue generation, it is essential for the firm to invest in robust technology to establish itself as a trusted partner for businesses seeking secure and efficient identity and verification solutions.
- The recent influx of investment funds into Cr3dentials highlights growing global interest in transformative technology like blockchain and artificial intelligence, paving the way for an exciting new era in finance and investing.
- With blockchain and artificial intelligence at its core, Cr3dentials is positioned to revolutionize various sectors, from finance and business to government and beyond, by enabling secure, decentralized, and private identity verification.
