Picasso To Collaborate With KILT Protocol

Published on: 22.09.2021

Composable Finance hopes that parachain procurement is in our near future, and thus are hard at work perfecting what we are building for Picasso, our Kusama parachain. An exciting new step we are taking in improving Picasso is exploring ways to leverage KILT’s decentralized identity technology. This will help us improve how identities are represented on Picasso, and will also help us better understand user behaviors on our offering. Through this collaboration, they aim to build several liquidity products.

KILT: Digital Identities that Protect Personal Data

KILT is a project providing decentralized identities for participants in the Web 3.0 space. This technology allows users to represent their identity without revealing aspects of the identity that the user desires to keep private. Thus, KILT can be used to preserve user privacy in addition to utilities like creating identifiers for machines, services, and anything else requiring some sort of identifier.

KILT identities are self-sovereign, anonymous, revocable, verifiable, and decentralized credentials. This is offered to other applications via its software development kit (SDK). The KILT SDK allows developers to easily create dApps and other blockchain applications that issue, hold, and verify credentials. These can be customized to meet the needs of various organizations, at a low cost.

This project adopted Substrate early on (in 2018), which provides it with seamless integration into Polkadot’s ecosystem and any linked projects, such as our Picasso parachain.

KILT procured its own parachain on September 8th during Kusama’s sixth parachain auction. Built upon this parachain is a global network of collators, which holds and secures the data for KILT’s blockchain. KILT has also announced some of its next steps, including implementing its first runtime upgrade, introducing governance and Treasury capabilities and adding KILT core functionalities such as Decentralised Identifiers (DIDs) and Verifiable Credentials.

Composable is pleased to be working with this promising parachain-based protocol, and believes that incorporating KILT’s technology will help us best serve our users in a privacy-protected manner.