Internet City, Dubai--(Newsfile Corp. - August 10, 2022) - LBank Exchange, a global digital asset trading platform, will list cheqd (CHEQ) on August 10, 2022. For all users of LBank Exchange, the CHEQ/USDT trading pair will be officially available for trading at 20:00 (UTC+8) on August 10, 2022.
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Self-sovereign identity gives individuals and organisations full control of their data with more security and transparency. However, a commercial incentives layer for the digital identity ecosystem is currently missing. cheqd brings simplicity, ease and fairness by inverting existing models of data ownership. For the first time, individuals and organisations that validate their online identities, such as passport offices, banks and utilities, are in control and can be financially rewarded. cheqd provides a market-leading solution for data ownership and value creation using blockchain technology. Its native token CHEQ will be listed on LBank Exchange at 20:00 (UTC+8) on August 10, 2022, to further expand its global reach and help it achieve its vision.
cheqd is a technology company enabling individuals and organisations to take full control of their data. It provides payment rails, customisable commercial models and governance structures for trusted data, including self-sovereign identity (SSI). Based on blockchain technology, cheqd is built upon a public permissionless network with a dedicated token - CHEQ.
It allows SSI companies to build and deliver secure solutions to their users. Through the cheqd network, anyone can verify identities quickly and securely. It enables new business models, where verifiable credentials are exchanged in a trusted, reusable, safer, and cheaper way.
cheqd's solution consists of three parts: a public permissionless network, where SSI credentials can be issued and read; CHEQ, a token that allows issuers/receivers/holders/node operators to pay each other for digital credentials without compromising the privacy and security of users; and suite of mobile and backend software tools that SSI vendors can embed in their own software.
Through its network, cheqd disrupts established identity paradigms and creates new trusted data marketplaces. The platform provides a common and public infrastructure easily accessible to anyone with payment rails between issuers, holders, and receivers of trusted data. It avoids the risk of creating new silos of data as private data isn't written to the ledger in any form. The scale of distribution in the SSI space is unmatched - through its strong community of partners, cheqd engages with companies in various industries, which further demonstrates the endless areas of opportunity for the application of SSI technology.
About CHEQ Token
Its native utility token - CHEQ - enables individuals to interact with organisations globally and for businesses to reap commercial benefits. In addition to data ownership, cheqd provides individuals and companies with a real-world financial incentive to share their data. CHEQ can also be staked or used to vote on cheqd network's governance proposals.
CHEQ has an initial total supply of 1 billion (i.e. 1,000,000,000) tokens, of which 5.5% is provided for community and grants, 29.5% is allocated to the foundation to support cheqd's mission as well as vote on the direction of the protocol, 8.1% is allocated to the advisors, 10% is allocated to the team, and the rest 47% is provided for the shareholders.
CHEQ token will be listed on LBank Exchange at 20:00 (UTC+8) on August 10, 2022, investors who are interested in cheqd investment can easily buy and sell CHEQ token on LBank Exchange by then.
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About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 7 million users from now more than 210 regions around the world.
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Self-sovereign identity (SSI) /decentralised identity puts data back under the control of the individual, so they can decide when what and to whom they share their data. However, it is missing a payments system which is slowing its growth.
cheqd delivers first-of-its-kind payment rails, customisable commercial models and governance structures for trusted data, including SSI. Based on blockchain technology, cheqd is built upon a public permissionless network with a dedicated token - $CHEQ.
By introducing payments and other sustainable economic incentives, cheqd will turbocharge SSI adoption, return control and privacy to individuals, and enable new business models for trusted data.
As identity and trusted data shift to this paradigm, cheqd will be the de-facto payment mechanism for identity and trusted data, globally and cross-industry (from financial services to Web3 companies, from travel to the public sector). The scale of distribution in the SSI space is unmatched -- over 50% of the SSI market have already joined the cheqd network and are building SSI applications on top of their network. Through its strong community of partners, cheqd engages with companies in various different industries, which further demonstrates the endless areas of opportunity for the application of SSI technology.
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